Start your journey with us at KAF Digital Bank (KAF DB), where our Basic Plus Savings Account-i is designed to provide you with a secure, convenient, and flexible banking experience. 

This account, available exclusively to Malaysian citizens, offers a host of features to help you manage your finances effortlessly. Below are the steps to apply for the Basic Plus Savings Account-i, along with the necessary details, features, and eligibility criteria.

Provide Necessary Information

To proceed with your application, you must submit the following details:

• Email Address: Ensure it is active, as you will receive crucial notifications.
• Full Name and Nickname: Your legal name and any preferred names.
• NRIC or Passport Number: Necessary for identity verification.
• Residential and Mailing Address: For correspondence and verification.
• Date of Birth: Ensure accuracy for identification purposes.
• Nationality: This account is eligible for Malaysians only.
• Contact Number: A valid number for communication.
• Income Level: Your monthly income.
• Current Occupation: Your job title and role.
• Nature of the Occupation: Description of your job responsibilities.
• Occupation Industry: The industry you work in.
• Name of Current Employer: Your employer's name.
• Purpose of Opening the Account: Reasons for opening the account.
• Source of Funds: Origin of the funds you will deposit.

Complete the Checklist

For your application to be successful, ensure the following:

1. Complete and Correct Information: 

Double-check that all the details provided are accurate and complete.

2. Pass Critical Assessments:

• E-KYC (Electronic Know Your Customer): A digital identity verification process.
• Document Verification: Verification of submitted documents.
• Biometric Screening: Verification through biometric data.

3. Initial Credit Transfer: 

Perform an initial credit transfer from another bank account within 30 days after passing the assessments. This transfer confirms your identity and activates your account. We will notify you via email once you have passed all assessments.

Activate Your Account

Once your application is approved and you have performed the initial credit transfer, your account will be activated. You will then receive a virtual debit card and you are allowed to start using your account immediately.

Account Features and Limits

• Monthly Spending Limit: RM20,000
• Transaction Limits: No cap or restriction on per transaction and your daily transaction limits is within the RM5,000 monthly spending limit.
• Virtual Debit Card: You will receive a virtual debit card upon account activation.

Available Services

With your Basic Plus Savings Account-i, you can perform various transactions, including:

• Intrabank Transfers: Transfers between KAF Digital Bank accounts (both outgoing and incoming).
• DuitNow Bank Transfers: Transfers using the DuitNow system (both outgoing and incoming).
• DuitNow QR Peer-to-Peer Transfers: QR code payments (both outgoing and incoming).
• DuitNow QR for Merchant Payments: QR code payments to merchants (outgoing only).
• DuitNow ID Transfers: Transfers using DuitNow ID (both outgoing and incoming).
• VISA Card Transactions: Card-not-present transactions such as online shopping and online overseas transactions (both outgoing and incoming).

Islamic Contracts Applied

• Qard: 

Refers to a contract of lending money where the lender provides a loan to the borrower with the expectation of repayment of the principal amount without any additional profit or interest. In this context, we act as the borrower, and you are the lender.

• Ujrah: 

A Shariah-compliant framework that governs the fee structure for its services. Unlike conventional banking models that may charge interest, the Ujrah contract ensures transparency and fairness.

Eligibility Criteria

• Malaysian Citizens Only: The account is only available for Malaysians.
• Minimum Age: Applicants must be at least 18 years old.
• Application Through the App: All applications must be submitted via our mobile app.
• Currency: Transactions and balances are maintained in Ringgit Malaysia (RM).
• No Minimum Balance: You can maintain any balance, even as low as RM0.
• Deposit Insurance: Your deposits are insured by Perbadanan Insurans Deposit Malaysia (PIDM).

With the KAF Digital Bank Basic Plus Savings Account-i, you can enjoy a hassle-free banking experience tailored to meet your needs. Our comprehensive application process ensures your account is set up securely, while the account's features and benefits provide the flexibility and convenience you deserve. Start your journey with us today and take advantage of our innovative banking solutions designed to make your financial life easier and more efficient.