TAQWA Direct Pension Credit Account

Taqwa Direct Pension Credit Account is a depository account which aims at providing the necessary tool for pensioners to transact their entire Pension payment related activities through single platform. This account can be opened by any individual/single pensioner.

Salient Features

The salient features of this account are as follows:
  • Mudarabah based product whereby the profit is distributed between the customer and Bank based on the pre-determined profit sharing ratio and weightages.
  • Account will be opened in PKR
  • Account can be fed through Pension payment only
  • No local or international credit shall be allowed in the account
  • No commercial remittance shall be deposited in the account
  • The account will be opened by single person (pensioner) only.
  • No requirement for initial deposit.
  • Profit will be calculated on average balance of the month.
  • The bank account shall not be a joint account
  • Withholding Tax and Zakat will be applicable as per prevailing laws and regulations of Government.
  • Other service charges (if any) will be applicable as per approved schedule of charges.
  • Other terms & conditions will be applicable as per account opening form.
This page was last updated on: November 13, 2020 12:00:00 AM