Is the Wahed Everyday Shariah Account (ESA) PIDM-insured?

No. The Wahed Everyday Shariah Account (ESA) is not PIDM-insured — it is not a bank deposit.

SAVINGS / Wahed Everyday Shariah Account (ESA)

Wahed Everyday Shariah Account (ESA)

Q: What is the interest rate on the Wahed Everyday Shariah Account (ESA)?

The Wahed Everyday Shariah Account (ESA) pays a base rate of Not disclosed. Shariah-compliant cash management account from Wahed (SC-licensed Digital Investment Manager, eCMSL/A0359/2019). Official FAQ states 'You can potentially earn returns up to 4.95% annually' — an estimated/variable return, not a guaranteed rate; no fixed base rate published on the official page. Not PIDM-protected; up to RM100,000 protected by the Capital Market Compensation Fund Corporation against fraud, misappropriation or insolvency of the licensed intermediary (a different protection from PIDM). Verified 4 Sept 2026 against the official Wahed Everyday Shariah Account (ESA) website.

Wahed Everyday Shariah Account (ESA) · Malaysia · Verified 4 Sept 2026

BASE RATE

Not disclosed

MAX RATE (ALL TIERS)

Not disclosed

BALANCE CAP

None

■ BONUS TIER REQUIREMENTS

Salary credit NOT REQUIRED

Card spend NOT REQUIRED

Bill payments (JomPAY / standing instruction) NOT REQUIRED

Insurance / investments via bank NOT REQUIRED

PIDM insured NO — NOT A BANK DEPOSIT

Minimum balance RM50 to open; no minimum balance to maintain or earn returns

HOW THE RATE WORKS

Shariah-compliant cash management account from Wahed (SC-licensed Digital Investment Manager, eCMSL/A0359/2019). Official FAQ states 'You can potentially earn returns up to 4.95% annually' — an estimated/variable return, not a guaranteed rate; no fixed base rate published on the official page. Not PIDM-protected; up to RM100,000 protected by the Capital Market Compensation Fund Corporation against fraud, misappropriation or insolvency of the licensed intermediary (a different protection from PIDM).

SOURCE

https://www.wahed.com/mme/frequently-answered-questions---everyday-shariah-account

Wahed official ESA FAQ page: 'You need at least RM50 to open an account'; 'You can potentially earn returns up to 4.95% annually'; 'Up to RM100,000 of your investment is protected by the Capital Market Compensation Fund Corporation from fraud, misappropriation, or insolvency by a licensed capital market intermediary'; Wahed is a licensed DIM by SC Malaysia. No fixed rate published; no PIDM membership.

Verified 4 Sept 2026. Rates change — always confirm on the official site.