Deposits in TH are based on Wakalah concept, which means an act of one person (Muwakkil) appointing another party (Wakil) as one’s representative to handle one’s affair. It is syariah-compliant and all savings are guaranteed by the Malaysian Government.
The transition to the Wakalah Contract will take effect from December 31, 2019 replacing the previously used Wadiah Yad Dhamanah savings contract. Under this new contract, TH acts as the representative to manage the depositors’ fund for investment and pilgrimage affairs where the profits generated annually will be distributed to the depositors based on TH’s financial performance.
TH is constantly striving to improve its services by implementing reforms and restructuring efforts for the benefit of depositors. Among the advantages of saving in TH are the deposits are 100 per cent guaranteed by the Government as per the Hajj Act 1995, and the zakat is paid on behalf of the depositors. Depositors do not need to fill out any new documents and all dealings can be done as usual at any TH branch offices nationwide.
TH hereby would like to inform that by retaining the account with TH after December 31, 2019, the depositors are deemed to have agreed to the transition to this Wakalah concept deposit contract.
Advantages of Savings at TH
- The savings is shariah-compliant.
- 100% guaranteed by the Malaysian Government.
- Exempted from tax payment.
- Zakat is already paid at the rate of 2.5%.
- No savings limit.
Savings & Withdrawals
- No savings limit imposed.
- Savings can be done by cash deposits, cheques, fund transfers or through any of the following methods:
- TH Service Counters (Headquarters and Branch Offices)
- TH Mobile Counters
- Salary deduction
- Electronic and Internet Banking
- Service Counters of TH Strategic Partners
- Collection Agents
- Maximum cash withdrawal is RM10,000 at TH, BIMB and BKRM Counter.
- Non-cash withdrawal of more than RM10,000 can only be done at TH Headquarters and Branch Offices by Telegraphic Transfers.
Depositors’ accounts with no transaction for more than 7 years will be classified as Inactive Accounts, in accordance with the Regulations and the Tabung Haji Act (1995).
Starting from 2018, Inactive Accounts shall no longer receive distribution of the Annual Hibah.
TH is exempted from surrendering the money from the Inactive Accounts to the Registrar of Unclaimed Money. As such, the Depositor or his Beneficiary can still make a claim on the Inactive Account’s balance, at any time, by submitting such documents which may be prescribed by TH.
TH Counter & TH Mobile Counter
TH Counters are open at all TH Branch Offices throughout the country.
TH Mobile Counters
TH offers Mobile Counter services aimed at facilitating customers at specific locations such as exhibitions/expo sites, factories, offices, schools, etc.
TH Strategic Partner & TH Deposit Collection Agent
TH Strategic Partner
Depositors can perform TH transactions at counters, Automatic Teller Machines (ATM) and through online banking of TH Strategic Partners i.e. Bank Islam, Bank Rakyat, Maybank and CIMB.
Click here to view TH Electronic Channel Services.
TH Deposit Collection Agent
Depositors can also perform TH transactions through the appointed Savings Collection Agents as follows:
- Pos Malaysia Berhad
- Bank Simpanan Nasional
- CIMB Bank Berhad
- RHB Berhad
- Public Bank Berhad
- Ambank Berhad
- Bank Muamalat Malaysia Bhd.
- Hong Leong Islamic Bank
- Kuwait Finance Bank
- Affin Islamic Bank Berhad
Service charges will be charged at the rates set by the Collection Agent from time to time.
Download form click here.