With Falah Islamic Senior Citizen Savings Account, you can now have a high return yielding Savings Avenue with increased profit on higher deposit levels. The product provides senior citizens with financial safety and independence so that they can spend their retirement in peace.
| Eligibility Criteria | Pakistani National with CNIC/NICOP/SNIC aged 55 and above Individuals and joint accountholders. In case of joint applicants, the primary applicant should be at least 55 years of age or above, and the other joint account holder must be at least 18 years of age |
| Initial Deposit | PKR 100/- |
| Product Features |
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| Benefits |
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| Additional Benefits | On maintaining, an average monthly balance of PKR 10,000/- in your checking account, get free accidental death and permanent disability takaful coverage of up to PKR 2 Million.
On maintaining a minimum monthly average balance of PKR 1m or equivalent FCY deposit in current/savings/term deposit accounts, avail numerous free services as per our preferred banking services. |
| Underlying Principle | This product is based on the concept of Mudarabah |
Note:
- Profit calculation & distribution will as per prevailing pool management guidelines
- All the free services are subject to the terms and conditions as per prevailing Schedule of Charges
- Withholding Tax and Zakat is applicable as per existing policy of Government
