Falah
3 Year Term Deposit Certificate (Monthly Income Certificate)
With Falah 3 Year Term Deposit Certificates you earn
high rate of returns on your savings with the flexibility of withdrawing your
profits at your convenience as a regular source of income. You can place funds
in this product if you are an individual or a business entity.
It is a profit bearing fixed deposit account
designed on the foundation of ‘Mudarabah’, where Bank is the ‘Mudarib’ (manager
of the funds) and you, the customer is the ‘Rabb-ul-Maal’ (owner of funds).
Bank at its discretion, use or employ your deposited funds in Shariah compliant
modes such as Ijarah, Murabaha and Musharakah.
Bank Alfalah Islamic Banking will share the profit
on the basis of predetermined profit sharing ratio. The rate of return on your
deposit will be determined through a Shariah approved mechanism called
weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all
depositors will share such loss proportionate to their investment.
Features:
·
Invest with a minimum deposit of Rs.
100,000 only.
·
Investment is fixed for three years.
·
Maximum deposit limit of Rs. 25 million.
·
Profit is paid monthly.
·
Rollover option available upon written
intimation.
·
Single tier product.
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