Hajj Al Baraka Saving Plan
Let Al Baraka be your ticket to HAJJ
Hajj Al Baraka Saving Plan takes into consideration of every Muslim's dream of performing Hajj and caters to their future financial needs to embark on the spiritual journey of pilgrimage. This is a special Mudarabah based recurring deposit plan that allows customers to setup a customized Hajj Saving Plan as per their intended future plans to perform Hajj, while providing them with a competitive profit rate on monthly basis.
This is a fact that every Muslim desires to perform Hajj in their lifetime but very few are fortunate to save up, so here is the solution for everyone to plan and fulfil their dream through ABPL’s “Hajj Al Baraka” product, that shall assist every Muslim with their quest to embark upon this spiritual journey.
Features & Benefits:
- • Start as low as Rs. 125 per day OR Rs. 3,800/-per month
- • Plan availability 3 to 20 years
- • Multiple deposit options i.e. Monthly/Quarterly/Semi-Annually/Annually
- • Dedicated Hajj Calculator for Govt. & Pvt. Hajj (40 days & 20 days)
- • Chance to perform early Hajj*
- • Free Standing Instructions
- • Free SMS Alerts
- • Easy exit option
- • Plan progress viewership (ABPL Internet Banking)
- • Takaful Option*
*Terms and Conditions Apply.
Take the journey that matters most and perform Hajj with Al Baraka Pakistan.
- • Individuals (Singly or with their family members/Dependents).
- • Age Group: 18 – 55 years
- • Can save at least PKR 3,700 per month
- • Can be a Pakistani resident or a non-Pakistani resident
Dependents for Hajj
- • Family members only
- • Minimum age 1 year to enroll for plan
- • Up to 5 plans in total on one application
Hajj Al Baraka works on the underlying contract of Mudarabah, Wakalah and Qard.
Customer will deposit funds on periodic basis as per agreed saving plan on the basis of Mudarabah whereby Bank will act as a Mudarib (Manager) and Customer will act as a Rab-ul-Maal (Investor). Funds under this Mudarabah arrangement will be invested in the general deposit pool maintained by the Bank and the profit will be distributed as per agreed Profit Sharing Ratio and Weightage.
In Wakalah arrangement, the customer will agree to appoint Al Baraka Bank as his/her Wakeel (agent) for facilitation in the collection of takaful cover contribution, whereby the bank may, acting as a collection agent, collect Takaful cover contribution amount from the customers who opt Takaful option.
In Qard arrangement, ABPL will provide funds to travel agent on behalf of the eligible customer on the basis of Qard and the customer will repay the Qard amount within a scheduled period. (In case of early hajj only).
Customer must visit any Al Baraka Bank’s branch and sign up for Hajj Al Baraka by submitting the following:
- • HAB Application Form
- • HAB Calculator Illustration Sheet
- • Health Declaration Form (Optional)
- • Key Fact Statement (KFS)
- • Copy of CNIC of applicant
- • Copy of CNIC of dependents (if they are listed as a dependent for performing Hajj)
- • Original payment voucher for takaful (If opted)
Visit our nearest Al Baraka Branch, where our experienced staff will assist and guide you regarding various products. We are just a call away through our 24/7 Phone banking at 111-113-442, with an extensive network of branches spread across various cities and towns in Pakistan.