Sahabat Agro is a marketing programme that is based on the concept of membership, refer and reward by Agrobank. It is also compliant with an Islamic Shariah principle known as Hibah Muallaqah, condition grants.

Benefits of Sahabat Agro

According to Agrobank’s official website, the benefits of joining Sahabat Agro programme are:

• There is no monetary risk
• It is charitable
• It gives you monthly passive income if you refer
• You get unlimited savings
• Your rewards can be inheritable in case anything happens to you
• It is Shariah compliant

Requirements to Join

First of all, you will have to be 18 years old and above in order to join this Sahabat Agro programme. There are two types of accounts offered in this programme: Individual and Non-Individual. The individual account is open to all Malaysian citizens, permanent residents of Malaysia and Non-Malaysian citizens while the Non-Individual account is open to all societies, associations, clubs, cooperatives, single businesses, business partnerships and registered companies.

Details of the Programme

The product that is being offered in the Sahabat Agro programme is the term deposit account Agroprima S. Agroprima S is also based on an Islamic Shariah concept known as Tawarruq. A Tawarruq basically consists of two sale and purchase contracts. The first contract involves selling the asset to the purchaser based on a deferred basis. Subsequently, that first sale’s purchaser will sell that specific asset to a third party based on cash and spot basis.

The minimum deposit is RM500 for individual and non-individual accounts and the method of payment is upon maturity which is a tenure of 12 months. The default return rate for Agroprima S is 0.25% per annum but in the Sahabat Agro programme, members are rewarded with a higher return.

The return rate for per annum is 0.70% and it is based on level and category of the members. Classic level members are eligible to receive 50% of the total return rate, Gold level members are eligible to receive 75% of the total return rate and the Platinum level members are eligible to receive 100% of the total return rate. It must be also noted that Agrobank has and reserves the right to change the percentage of the return rate in accordance to the Agrobank’s discretion from time to time for promotional purposes or other purposes.

For those who are interested in referring their family members and friends into the program to earn passive income, Agrobank has also prepared up to four different types of levels in their Sahabat Agro programme and each levels earn a specific percentage of the reward. The levels are Level 1, Level 2, Level 3 and Level 4. Level 1 members will be rewarded with 30%, Level 2 members will be rewarded with 25%, Level 3 members will be rewarded with 23% and Level 4 members will be rewarded with 22%. . Similarly, it must be also noted that Agrobank has and reserves the right to change the percentage of the reward in accordance to the Agrobank’s discretion from time to time for promotional purposes or other purposes.

When you refer your family member or friend to the Sahabat Agro programme, you will be rewarded a specific percentage when that family member or friend maintains a positive Average Credit Balance in his or her AgroPrimaS account. The cash reward will then be credited into your savings or GIRO account and this is calculated on a monthly basis.

Fees and Charges

There are no fees and charges for joining the Sahabat Agro programme. However, there is a brokerage fee of 0.05% from your total investment amount or RM50. Whichever amount that is lower will then be charged if you do premature withdrawals below than 3 months. If your AgroPrimaS Term Deposit-i Account is broken or lost, you will be charged RM5 for every certificate issued. In addition, the selling price for Sahabat Agro’s products is subject to the price set by Agrobank from time to time and it also includes a GST of 6%.

How to Get Started?

In order to get started, simply visit your nearest Agrobank branch to open the account and then register as a Sahabat Agro member at that Agrobank branch. After that, activate the AGRONET which is the internet banking service to enable you to browse the Sahabat Agro Portal that will display all the membership related information.

Next, start referring your family members and friends to do the same things as mentioned above. It is also important to ensure that your membership number is written on the Membership Registration Form as a referrer or else you won’t get your reward.

Agrobank has also arranged for official briefing schedule on their Sahabat Agro programme in different states of Peninsular Malaysia. Specific details on the time and venue can be found in Agrobank’s official website.

So what are you waiting for? Sign up for Sahabat Agro programme today and start referring your family members and friends to earn your monthly passive income!