PB Retail Negotiable Instruments of Deposit (R-NID)

PB Retail Negotiable Instruments of Deposit (R-NID)

PB Retail Negotiable Instruments of Deposit (R-NID) is an interest bearing certificate issued at a specific rate of return with the Nominal Amount payable upon maturity, and interest payable upon maturity and/or periodical basis depending on the interest payment frequency.

Features & Benefits

  • Exclusively for retail customers’ placement. Retail customers shall include individuals aged 18 years and above and non-individuals i.e. sole proprietorships, partnerships and small and medium enterprises (SMEs) as defined in the Policy Document on Capital Adequacy Framework (Basel II – Risk Weighted Assets) issued on 1 August 2016 or any amendment from Bank Negara Malaysia from time to time.
  • R-NID is only offered to Malaysian residents.
  • Low minimum Nominal Amount i.e. RM10,000 (in multiples of RM1,000). There is no maximum Nominal Amount.
  • Available tenure is up to 5 years.
  • R-NID can be issued at par/premium/discount.
  • A R-NID certificate will be generated for each R-NID transaction. The original certificate is kept in custody and stored electronically by Public Bank Berhad ("the Bank") on start date which acts as an Authorised Depository i.e. a licensed financial institution approved by Bank Negara Malaysia and a member of RENTAS.
  • A Confirmation Advice detailing the information of R-NID transaction such as tenure, maturity date, interest rate, Nominal Amount, R-NID certificate number and etc. will be mailed to customers on the start date of the R-NID or made available via PBe for record purpose.
  • No fees and charges for investment into the R-NID. However, customers are required to open and maintain a conventional savings/current account ("Designated Account") with the Bank in order to invest in the R-NID. Fees and charges may be chargeable on the Designated Account, where the details of the fees and charges are available upon request or from the Bank’s branches and PBe website.
  • Optional overdraft facility is available to the customers subject to application where the R-NID certificate will be pledged as collateral for the overdraft facility.
  • The main differences in the product features between R-NID and Fixed Deposit are as follows:
Features R-NID Fixed Deposit
Nominal Amount/Principal Guaranteed
Yes, only if held to maturity
Selling of R-NID to the Bank prior to maturity may result in partial loss on the initial Nominal Amount
Any selling of the R-NID to the Bank prior to the maturity date is subject to the buy/purchase rates that will be published by the Bank
Yes, regardless of being held to maturity or early withdrawal
Insured by PIDM
No
Yes
 

Click for more information
R-NID Tranche 2 Detailed Product Features
R-NID Tranche 3 Detailed Product Features
Terms and Conditions [Bahasa Malaysia] [English] [中文]
Product Disclosure Sheet [Bahasa Malaysia] [English]

 
WARNING
THIS PRODUCT IS PRINCIPAL GUARANTEED BY THE ISSUING BANK UPON MATURITY ONLY. IF THE PRODUCT IS SOLD PRIOR TO MATURITY, THE CUSTOMER MAY LOSE PART OF THE INITIAL DEPOSIT. THE CUSTOMER IS REMINDED THAT THIS PRODUCT IS NOT INSURED BY PERBADANAN INSURANS DEPOSIT MALAYSIA.