MCB Islamic Hajj & Umrah Term Deposits
Individuals planning for the sacred journey of Hajj or Umrah can now invest their savings in Shari’ah compliant term deposit “MCB Islamic Hajj & Umrah Term Deposit”.
Minimum Investment Requirement
PKR. 10,000
Acceptable Currency
PKR
Profit Payment Frequency
Maturity
Tenure
6 Months
1 Year
Nature of Product
MCB Islamic Islamic Hajj & Umrah Term Deposit 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 products and 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. 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 MCB Islamic Hajj & Umrah Non-Checking Savings Account. In the event of loss to the pool, all the investors of the pool shall share such loss proportionate to their investment. Click here to see Premature TDR Encashment Matrices.
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 Bank Charges (SOBC).
