FNB Islamic Term Deposit

[Hempiz]

Hey,

I came across this but there is limited info available online and I don't trust salespeople.

Does anyone have this type of fixed deposit?
What's the returns like ?
How does the Weighting system work?

Pros / Cons?

 

[Grubscrew]

Is weighting like interest?

 

[Hempiz]

My understanding,(and this is where I'm looking for clarity)...It's based on a profit share basis. Normal is 60:40 split. On a 30 day account, it's about 55:45. On a 180 day account it's something like 50:50. Etc.

 

[ld13]

My understanding,(and this is where I'm looking for clarity)...It's based on a profit share basis.

Assuming that there is a profit to begin with. They warn you that you also participate in any losses.

 

[Hempiz]

Yes, true. But that's not uncommon. Similar risk apply the stock market, SATRIX 40 , Unit Trust etc.