KAF Digital Bank: Islamic digital bank accounts and limits
Who can open a KAF Digital Bank Savings Account-i, the Basic and Premium limits, and fees. KAF’s account page does not post a standing profit rate.
How to open and activate
Apply in the official app
The bank says all applications must be submitted via its mobile app. You will need standard identification and contact details.
Complete e-KYC
The official page describes document verification and biometric screening.
Make the initial credit transfer
After you pass the assessments, make an initial credit transfer from another bank account within 30 days. That transfer activates the account.
The official page also states there is no minimum balance (you may hold RM0). Deposits are insured by PIDM.
Official limits and fees
| Account tier | Daily total limit | Monthly total limit |
|---|---|---|
| Basic Plus Savings Account-i | RM5,000 | RM20,000 |
| Premium Savings Account-i | RM50,000 | RM200,000 |
These aggregate limits include DuitNow transfers and QR payments, card payments and withdrawals. Source: hello.kaf.com.my fees and charges.
Early account closure is RM20 if you close within three months of opening. If the account becomes dormant and the balance is RM10 or more, the official table lists an annual service fee of RM10 until the balance is exhausted or for up to seven years. A hardcopy statement is RM10 per request, plus courier fees.
Why there is no rate in our table
The official Basic Savings Account-i page describes the deposit as a Qard contract: the bank, as borrower, is expected to repay the principal without additional profit or interest under that contract. Fees are described under an Ujrah framework.
KAF’s public account pages do not publish a promised profit or hibah rate, so the comparison table marks the return as “not published”. If the bank later posts a rate in the app, take that figure from the bank.
FAQs
Is KAF Digital Bank Islamic?
Yes. It is licensed as an Islamic digital bank. The official account page describes Qard and Ujrah contracts.
Can a non-citizen open an account?
The official page says Malaysian citizens only.
What profit rate does KAF pay?
KAF’s public account pages do not publish a standing rate, and we do not copy a figure from a third-party review.