Al Baraka Term Deposit
(Rs)
(Rs)
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Features
- Profit payment frequency is on quarterly, bi-annually and annually basis
- The funds can be fixed for a tenor ranging from 1 months to 5 years
- Interest rate varies from 11% to 17.50% based on the deposited amount and the term length
- An Islamic Fixed Deposit account
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Benefits
- Competitive rewarding rates on long-term deposits
- Option of withdrawal funds prior to maturity
- Only Rs. 25,000 initial Investment required to get profit
- Free E-statements, Phone and SMS Banking
- Free issuance of debit card
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Eligibility
Salaried Person:
- Age Limit: 21 - 60 years
- Documents required: CNIC, Proof of employment, Copy of utility billSelf-employed/Businessmen:
- Age Limit: 21 - 70 years
- Documents required: CNIC, Proof of business -
FAQ
Anyone who is a Pakistani resident individual, private and public limited companies, can use a term/fixed deposits account.You can use a fixed deposit account from 1 month up to 10 years of length. The profit rate will also be better if you deposit it for longer time periods.Yes, you can ask the bank to pay the profit on a monthly basis however the rate of interest or profit rate will only be charged or calculated on annual basis.Yes, you can withdraw your funds from your fixed term bank account however some banks may charge a penalty or a fee for early withdrawals than a fixed maturity date.
Other Details
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Best Suitabe For
Long term savings
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Target Age Group
21 - 60 years
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Interest Rate / Profit Rate
17%
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Interest Calculation Frequency
Monthly
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Profit Payment Frequency
Quarterly
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Currency of Account
PKR
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Free ATM / Debit Card?
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ATM Card Network
MasterCard / UnionPay
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Free Cheque Book?
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Manage with App?
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Branch Banking
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Online Banking?
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