TAQWA Committee Account is a unique saving solution which offers regular savers a medium term low risk and high return avenue for savings with flexible options and affordable denominations. The essence of TAQWA Committee Account is the “Multiplier” effect, the Mudarabah partnership increases with time and so does the return.
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.
- Monthly accumulation of profit - payable at maturity.
- Fixed monthly investment structure.
- Investment Denominations - Multiple of Rs. 2,000 (i.e., Rs. 2,000/-, Rs. 4,000/-, Rs. 6,000/- and onwards) with a cap of Rs. 20,000/-month.
- Flexible Term options of 01 and 03 years.
- Multiple Committee booking options.
Withholding Tax and Zakat is applicable as per prevailing policy of Government.
No partial withdrawals and deposits except pre-mature settlement