Albaraka Bank Fixed Deposits
Al Baraka Term Deposit
Al Baraka Term Deposit is a perfect solution for customers seeking high profits in a Shariah compliant way which you can secure your future. Our sales officers will be happy to assist you in designing an investment plan for you and for your loved ones.
- Minimum initial Investment: Rs. 25,000/-
- Available in PKR and other major currencies likeUSD, GBP, EURO & AED
- Available tenures: 1 month, 3 months, 6 months, 1- 5 years
- Profit payment options: Quarterly, Bi-Annually, Annually or Maturity
- Free ATM/Debit Card with unlimited access to ATMs nationwide.
- Additional benefits such as e-Statement, 24/7 Phone Banking, SMS Banking
Al Baraka Term Deposit is based on the Islamic concept of Mudarabah. Under this arrangement the customer is Rab-ul-Maal (Investor) and the bank is Mudarib (Fund Manager). Customer deposit is invested in profitable business ventures which are legal and Shariah compliant. The profit/loss is shared on a pre determined ratios. As Fund Manager, the bank is entitled to a part of the profit, whereas profit distribution amongst the depositors and shareholders is made according to the weightages assigned to their investment at the beginning of each month.
- Individuals (18 years & above)
- Sole Proprietor
- Clubs / Societies / Associations / Trusts
For more information, kindly visit our branch or call us on 111-113-442.