MCB Islamic Niswaan Saving Account

MCB Islamic Niswaan Account has been exclusively designed for women from all segments of the society who are seeking Shari’ah compliant chequing saving account with value added free facilities subject to meeting below-mentioned criteria. Click Here to open account now.

Benefits/Features

MCB Islamic Niswaan Saving Account can be offered to:

Females (Individuals & Sole Proprietors)
No minimum balance requirement
Profit is calculated on monthly average balance basis
Joint account allowed, provided that the primary account holder is a female.

Initial Deposit

Rs. 1000/-

Transaction Limit

Unlimited Deposits & Withdrawals

Online Banking

Free

Acceptable Currency

PKR

Profit Payment Frequency

Monthly

Free Services and Eligibility Criteria:

Eligibility Criteria	Eligibility Criteria Description	Eligible Benefits
Criteria-1	For MCB Islamic Niswaan accountholder, the services mentioned in column (C) shall become free for the: • Month of account opening if PKR 100,000/- ≤ Initial Deposit Amount < PKR 500,000/- is made by the customer in the same month; OR • Current month if PKR 100,000/- ≤ Monthly Average Balance < PKR 500,000/- is maintained by the customer for the previous month.	Cheque Book Issuance to be Free*
Criteria-2	For MCB Islamic Niswaan accountholder, the services mentioned in column (C) shall become free for the: • Month of account opening if PKR 500,000/- ≤ Initial Deposit Amount < PKR 1,000,000/- is made by the customer in the same month; OR • Current month if PKR 500,000/- ≤ Monthly Average Balance < PKR 1,000,000/- is maintained by the customer for the previous month.	i. Issuance of Cheque Book to be Free; AND ii. Issuance of Debit Card (New and Annual / Renewal) – All variants of any payment scheme to be Free except UnionPay’s Platinum Card.
Criteria-3	For MCB Islamic Niswaan accountholder, the services mentioned in column (C) shall become free for the: • Month of account opening if PKR 1,000,000/- ≤ Initial Deposit Amount < PKR 2,000,000/- is made by the customer in the same month; OR • Current month if PKR 1,000,000/- ≤ Monthly Average Balance < PKR 2,000,000/- is maintained by the customer for the previous month.	i. Issuance of Cheque Book to be Free; AND ii. Issuance of Debit Card (New and Annual / Renewal) – All variants of any payment scheme to be Free except UnionPay’s Platinum Card; AND iii.50% discount in first year locker charges on small size locker (subject to locker availability).
Criteria-4	For MCB Islamic Niswaan accountholder, the services mentioned in column (C) shall become free for the: • Month of account opening if PKR Initial Deposit Amount ≥ PKR 2,000,000/- is made by the customer in the same month; OR • Current month if Monthly Average Balance ≥ PKR 2,000,000/- is maintained by the customer for the previous month.	i.Issuance of Cheque Book to be Free; AND ii.Issuance of Debit Card (New and Annual / Renewal) – All variants of any payment scheme to be Free; AND iii.100% discount* in first year locker charges on small size locker (subject to locker availability); AND iv.50% discount* in processing fee on Consumer Car Finance and Housing Finance.
* Note:	Means PKR 1/- plus applicable taxes / FED.

If the above criteria are not met by MCB Islamic Niswaan Accountholder, then standard charges for the aforementioned services shall be applicable as given in MCB Islamic Bank’s Schedule of Banking Charges as prevailing from time to time.

Other Facilities

Cheque Books
Banker’s Cheque
ATM/Debit Card
SMS Alerts
Internet Banking
Mobile App
Phone Banking (24/7 Call Centre)

Nature of Product

MCB Islamic Niswaan Account is a profit bearing account based on the principles of Mudarabah, where Customer is “Rabb-ul-Maal” and Bank is “Mudarib”. Bank may, at its discretion, use or employ such funds as it deems fit under the avenues approved by Shari’ah Board of the Bank. Bank shall share the profit on the basis of predetermined profit sharing ratio. Return on deposits will be based on predetermined weightages for each month or any interval decided by the bank and announced as per SBP’s instructions for which a sheet containing this information shall be available on Customer’s demand and also be placed at the public notice board of branches and on the website of the bank.

Key Fact Sheet

MCB Islamic has taken a proactive approach to promote responsible and transparent banking practices. To help customers make informed decisions about our products, we have created Key Fact Statements (KFS) that provide a comprehensive overview of the affordability, features, pricing, and other important factors of our banking services. We encourage you to review the below KFS sheet carefully to make informed decision.

KFS For Niswaan Saving Account

In the event of loss to the pool, all the investors of the pool shall share such loss proportionate to their investment.
For more information, please call our Contact Centre at 042-111-222-642, or visit your nearest MCB Islamic Bank Branch.
Note: Terms and Conditions apply. All taxes and Zakat are applicable as per Government regulations, and all Bank Charges are applicable as per the prevailing Schedule of Charges (SOC).