In a screenshot, which is currently circulating online, Banks, 25, commented on an Instagram post about Malik's latest cover of lifestyle magazine GQ.
"He legit looks like he used to be a girl. He gives me transman teas," the rapper said.
However, fans of the 23-year-old "Pillowtalk" hitmaker were quick to response, with one commenting: "Banks is going to jail one day for being a cyber bully."
This is not the first the "212" hitmaker has criticised the former One Direction singer.
In May, her Twitter account was suspended after she tweeted him a series of racial and homophobic slurs.
Disclaimer: No Business Standard Journalist was involved in creation of this content