Menu

Faysal Islami Zamin Account

Zamin is a Shariah-compliant savings account which provides customers the opportunity to save for medium to long term financial goals through periodic deposits and additionally, assures customers of a continued monthly payment to family in case of any mishap through free of cost Takaful Coverage throughout the plan.

Zamin Account offers competitive Halal returns on these savings and ‘State of the Art’ Mobile & Internet Banking facility to track investments.

Features of Faysal Islami Zamin Account

  • Shariah Compliant Modarabah based Savings Account
  • Initial investment starts from as low as Rs.5,000/-
  • Plans as per Customer needs with multiple tenors starting from 3, 5, 7 and 10 years
  • Flexible investment options; monthly/ quarterly/ six-monthly/yearly
  • Competitive Halal Returns with monthly profit reinvestment
  • Continued payment to family/heirs in case of death/total permanent disability through FREE Takaful Cover as per selected plan.
    • On 3 years plan: 1 year of monthly continued payment
    • On 5 years plan: 3 years of monthly continued payment
    • On 7 years plan: 4 years of monthly continued payment
    • On 10 years plan: 5 year of monthly continued payment
  • Account can be opened by individuals between 18 – 55 years (Maximum age should be less than 65 years at Plan Maturity)
  • Hassle-free encashment without any charges
  • Free Auto Debit from checking account
  • Digibank App and Digibank Internet Banking to view and track investments

Free Takaful Coverage

Coverage Type Takaful Coverage Amount Eligible Age
Natural Death/ Total Permanent Disability  

Up to Rs. 4.5 Million (in form of monthly payments)

ü  On 3 years plan: 1 year of monthly payments

ü  On 5 years plan: 3 years of monthly payments

ü  On 7 years plan: 4 years of monthly payments

ü  On 10 years plan: 5 years of monthly payments

 

18-55 years

(max. 65 years at the time of maturity)

Accidental Death/ Disability  

Accidental Death/Disability Benefit
of up to Rs. 500,000/-

 

18-55 years

(max. 65 years at the time of maturity)

Terms and conditions will apply.

NOTE: If investment amount is not paid / received by the Bank, on due date during the investment tenure, the Bank will have the discretion to cease the Takaful coverage for subsequent months. However, the Customer can avail free takaful coverage again upon making regular payments  subsequently as per the agreed plan along with resubmission of health declaration form at parent branch.

Takaful Claim Process

In case of death/total permanent disability, nominee shall visit Faysal Bank Branch and submit a Takaful Claim form which will be shared with Takaful Company.

  • Faysal Bank is providing Takaful coverage to clients through a third party agreement with EFU – WTO. The Bank does not administer and/or manage the underlying Takaful product and consequently will not be responsible for payment of any claims that may arise thereof.
  • The customer will have to meet the Takaful Company criteria, as mentioned in Product Fact Sheet, for eligibility of Takaful Coverage including the submission of required documents.
  • Providing Takaful Coverage, Takaful claim acceptance, and claim amount payments are the sole responsibility of the Takaful Company and the Bank will not be liable for any grievances the customer may have with this respect whatsoever. However, the Bank will facilitate the customer in claim processing.

Underlying Shariah Principle

Faysal Islami Zamin Account is offered on the basis of ‘Mudarabah’, where Faysal Islami is the ‘Mudarib’ (manager of the funds) and the customer is the ‘Rab-ul-Maal’ (owner of funds). Funds in Faysal Islami Zamin Account are deployed in Shariah-compliant modes such as Ijarah, Murabaha and Musharakah. The rate of profit on the deposit will be determined through a Shariah approved mechanism for calculation of weightages which will be announced at the beginning of each calendar month and shall be applicable for that month only. Losses, if any, will be shared in the proportion of investment by each depositor. Monthly weightages for profit distribution shall be calculated and displayed at all Faysal Islami branches as well as our website www.faysalbank.com/services/islamic-rates/

 Note: All Taxes and Zakat are applicable as per Government regulations. Other account maintenance and transactional charges apply as per Faysal Islamic Banking Schedule of Charges (SOC).

Open your account today by visiting your nearest Faysal Islami branch or
call us at (021) 111 060606

phone

Call Us or Text Us

Our hotline is available 24X7

Tel: 111-06-06-06

Text 9181

map Karachi

Nearest ATM & Branch

ATM - Engro Polymer & Chemicals Ltd. Plant Site EZ/I/P-II-I Eastern Zone, Bin Qasim

Branch - Engro Polymer & Chemicals Ltd. Plant Site EZ/I/P-II-I Eastern Zone, Bin Qasim