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
Best Suitabe For
Short and long term savings
Target Age Group
21 - 60 years
Interest Rate / Profit Rate
18.17%
Interest Calculation Frequency
Monthly
Profit Payment Frequency
Monthly
Currency of Account
PKR
Free ATM / Debit Card?
ATM Card Network
VISA / MasterCard
Free Cheque Book?
Manage with App?
Branch Banking
Online Banking?
Other Bank Accounts from Meezan Bank
Meezan Bank Rupee Current Account
APR
0%
Open Account with
Rs.
1,000
An account that provides you simplest way to enjoy Islamic banking services