Maybank

UPDATES ON ISLAMIC DEPOSIT TERMS AND CONDITIONS

Maybank will update the Terms and Conditions governing certain deposit products and related banking services, effective November 16, 2026.

Summary of Updates:

1. Updates to various provisions to enhance clarity, improve readability, and align with customer fairness principles and applicable regulations.
2. Clarification on the application of Shariah principles to Islamic Banking products, including references to the MPI Islamic Banking Committee and the Maybank Group Shariah Committee.
3. Clarification of account opening requirements and account maintenance provisions.
4. Revisions to passbook loss, misplaced, or stolen passbook provisions, including clarification on the Bank's liability where loss or damage results from the Bank's proven negligence or willful misconduct.
5. Clarification of checkbook handling, safekeeping, and destruction procedures for unclaimed checkbooks.
6. Updates to cheque alteration provisions to further clarify circumstances under which altered cheques may be rejected or returned.
7. Inclusion of a plain-language explanation of escheatment for dormant accounts and unclaimed balances.
8. Clarification that service fees, maintenance charges, and other applicable charges may be imposed or revised in accordance with applicable laws and regulations.
9. Updates to account closure provisions to align with applicable laws, regulations, and the Bank's policies and procedures.
10. Revision of venue provisions for legal actions to align with applicable Rules of Court and regulatory requirements.
11. Enhancement of ATM card security provisions, including the option for customers to permanently block a misplaced, lost, or stolen card through the Bank's mobile application.
12. Removal of certain manual notification and confirmation requirements that are no longer necessary due to enhanced digital self-service security features.
13. Clarification of the Bank's authority to provide updates regarding products and services through electronic channels such as email and SMS.
14. Correction and updating of cross-references, citations, and other administrative provisions for consistency and accuracy.

To view the complete updated Terms and Conditions, click here.