AL BARAKA MAHANA AMDANI PLUS
The Bank now offers amazing profit rates with monthly payout on its mahana amadani plus term deposit which is one of the finest term deposit rates in the banking sector.
- • Available in PKR only.
- • Minimum investment of PKR 100,000/- with no upper limit.
- • Tenure: 1 Year & 3 Years.
- • Profit Calculation & Payment will be on monthly basis.
- • Early redemption can be possible before the term completion as per last completed tenure.
- • Customer must be an account holder to book Term Deposit.
- • No auto rollover facility.
- • Individuals (18+ years)
- • Sole Proprietors
- • Partnerships
- • Companies
- • Clubs / Societies / Associations / Trust
Al Baraka Mahana Amdani Plus Account is based on the Islamic concept of Mudarabah, a form of partnership, in which depositors act as Rab-al-Maal (Capital Provider) whereas bank acts as Mudarib (Expertise Provider). Bank invests these funds in a pool from which financings are given to various sectors such as Corporate, SME, Consumer, etc. on the Islamic principles of sale, partnership and lease. The profit arising from such financings is shared between depositors and bank as per the agreed ratio.