Bank Al Habib

1. Available Products for saving account:

There are Different categories of saving accounts in bank al habib.
1.Monthly saver account or Islamic Mahana Amdani Saving Account (Based on Islamic principles of
Mudarabah)
2Fixed Deposit Account (Term deposit receipt)
3. Normal Saving Account
4. Islamic Senior Citizen Account ( Return is higher than normal saving account )

TDR is for fixed account. Where bank will pay you some return. It is short or long term deposit
account. (1 year to 5 years)
In case of premature encashment, profit is paid at the prevailing PLS Saving rate.

2. Procedure for opening saving account in Bank Al Habib

1.“Islamic Mahana Amdani Savings Account”
You can Apply by filling the account opening form available at the relationship branch by submitting re
uired document according to your occupation criteria given below.

 Original CNIC along with a verified copy

 Job Card / Job Letter and Salary Slip for Salaried individual
 Any other proof of income

Procedure differs from person to person.

o If you are a student you will have to provide income source of your parents (mother or father)
or brother.
o If you are independent and doing job then you will have to provide salary slip.
o Retired then retirement letter from that institute.
o If you are doing business then NTN is needed.

Deposit may be provided as security for allowing limits under Shariah Compliant modes of Finance

2. Islamic Senior Citizen 1-Year Term Deposit

Senior citizens can earn monthly profits
AL Habib Islamic Senior Citizen Term Deposit lets you earn high profits when you keep your savings
for a fixed term of 1-year.
 Based on the Islamic Principles of Mudarabah
 Available in tenure of One Year
 Senior Citizen Term Deposit can be opened with PKR 25,000/-
 Profit rates are declared on monthly basis in arrears
 Early encashment is allowed as per applicable Terms & Conditions
  Withholding tax on profits and Zakat will be applicable as per laws
 Deposit may be provided as security for allowing limits under Shariah Compliant modes of
Finance

3. AL Habib Islamic Term Deposit

It Earns better profits than the regular saving accounts
If you have financial ability to tuck away your money for a certain period of time you can place your
deposit in a fixed tenure, for example for six months. The AL Habib Islamic Term Deposit Account
earns Shariah compliant returns in flexible deposit periods, tailor-made to meet your short-term and
long-term financial needs.

 Term deposits based on Islamic principles of Mudarabah

 Available in tenures of 7-days, 1-month, 3-months, 6-months, 1-year, 3-years, and 5-years
 Minimum balance required PKR 25,000/-
 Early encashment is allowed as per applicable Terms & Conditions
 Profit rates are declared on monthly basis in arrears
 Profit payout at maturity basis
 Withholding Tax on profits and Zakat will be applicable as per laws
 Deposit may be provided as security for allowing limits under Shariah Compliant modes of
Finance

Other Benefits:
o Free Internet & Mobile Banking
o Free Banker’s Cheque
o Free Online Banking
o Receive profits every month
o Free ATM/Debit Card
o No restriction on withdrawals
o Mobile Banking & SMS Alerts Facility

3. Interest: Interest for 100,000 is 815 per month. (9.87%)

4. Loan requirement:
Personal loans are not allowed in bank al habib. For SMES( small medium enterprise) and other self
employed or businesses Bank Al Habib provide loans but against collaterals not mortgage.
If you need 1800000 rupees so you will have to provide bond papers, TDR, or Cash of 20,00000
Islamic Apni Car Finance (DM-Consumer)

AL Habib Islamic Apni Car is an auto finance facility that lets you buy a car through Shariah-compliant
mode of Diminishing Musharakah (DM). With affordable plans to suit your convenience, the facility is
a quick and easy route to own a car. Enjoy the ride like never before.

The facility is based on Shirkat ul Milk. Under the facility, Bank and customer jointly own the vehicle.
After assuming the ownership and possession of vehicle, bank rents outs its share of ownership to
customer. Bank share of ownership is divided into units and customer undertakes to purchase the
bank share of ownership, periodically.

Below mentioned people are eligible to apply for apni car:

o Pakistani nationals
o Account holder of any bank
o Salaried person, business man or self employed

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