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Saving Account

Transform Your Tomorrow Through Smart Halal Savings

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Category

Our Savings Account is designed to cater both individuals and businesses, offering a safe and rewarding way to grow your savings. Your deposits are invested in Shariah-compliant mode i.e. Mudarabah ensuring your funds are managed under Islamic principles.

Whether you’re saving for purchasing a home, planning a family vacation, education or retirement, this account helps you achieve your financial goals with competitive halal profit rates and no balance requirements. Additionally, enjoy the convenience of managing your account on the go with our state of the art Faysal digibank mobile app, internet and WhatsApp banking services. Start saving today with Faysal Bank Saving accounts!

Features

  • Available in PKR and Foreign currencies (USD, Euro and GBP)

  • On maintaining average balance of PKR 50,000 & above you can avail:

    • Free Cheque Book

    • Free Pay Orders

    • Free Duplicate Statement of accounts

  • No minimum balance

  • Unlimited transactions

  • Profit calculated on the Average monthly balance, assigned weightages & income earned by respective pool on monthly basis.

  • Nationwide online access through Faysal Bank branch, DigiBank Mobile App, Internet Banking, Contact Center & ATMs network

Please note: All above mentioned above free offerings to both current and saving accounts are at the Bank’s sole discretion and Bank reserves the right to discontinue at any point of time.

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).

For more information, please call our Contact Centre at 111 06 06 06, or visit your nearest Faysal Islamic Banking Branch.

Eligible Customers

Suitable for salaried Individuals and business entities.

How it Works

Means a kind of partnership, where Faysal Islamic Banking is the “Mubarib” (manager of the funds) and the customer is the “Rabb-ul-Maal” (owner of funds). The bank as the Mudarib may invest or disinvest, at its sole discretion the customer’s deposits in Shariah complaint modes such as Ijarah, Murabaha, Musharakah, etc. 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. The depositors will share in the profit earned through financing in different Islamic modes of financing. Losses, if any, will be shared in the proportion of investment by each depositor.

Documents Required

Individual

Salaried Person

  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Attested copy of Certificate from the employer OR

  • Service Card OR

  • Recent Salary Slip

Self Employed

  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Proof of earning OR

  • Source of income establishing business existence

Minor's Accounts
  • Legible copy of form "B" OR

  • Birth Certificate OR

  • Student ID Card

  • Valid attested copy of Guardian Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • If the "Major" is not a legal guardian of "Minor", court order would be required

Business Account

Proprietorship

  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Account opening requisition on business letter head along with stamp.

  • Copy of Sales Tax registration or NTN Certificate.

  • Certificate or proof of membership of trade bodies (where applicable) Registration certificate for registered concerns.

  • Any other documents (if required).

Partnership

  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Account opening requisition on business letter head along with stamp.

  • Declaration of proprietorship on business letter head with stamp.

  • Copy of Sales Tax registration or NTN Certificate.

  • Certificate or proof of membership of trade bodies (where applicable) Registration certificate for registered concerns.

  • Partnership deed

  • Partnership resolution

  • Any other documents (if required).

Companies

  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Account opening requisition on business letter head along with stamp.

  • Copy of Sales Tax registration or NTN Certificate.

  • Certificate or proof of membership of trade bodies (where applicable) Registration certificate for registered concerns.

  • List of Directors

  • Board Resolution

  • Certificate of Incorporation

  • Memorandum of Articles & Association

  • Form A/B

  • Form 29

  • By Laws in case of NGO/NPO/Trust etc

  • Any other documents (if required).

Important Links

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