Saving A/cs
Raast Senior Citizen Account
Funds deposited by the Accountholder with the Bank under the Raast Senior Citizen Account shall be based on Musharakah which is an agreement between the Accountholders and Bank to invest a sum of money in a business and share its profits according to agreement. The investment of this partnership consists of capital contributed by the partners. The Bank as active partner may invest or disinvest, at its sole discretion, the capital of Musharakah in any of the businesses of the Bank as it deems fit with the approval of the Shariah Board (SB) of the Bank
- No initial deposit requirement
- No minimum balance requirement
- Profit Calculation is on Monthly average balance
- Profit payment is monthly
- Free issuance of 25 leaves Cheque book (first time only)
- Free statement of account (Quarterly upon customer’s request)
- Free SMS Alerts
- Free Internet & mobile Banking (Access will be provided as per Bank’s policy)
- Higher expected profit rate than normal Saving Accounts PLS (Profit & Loss Sharing Account)
- 50% concession will be allowed over the published Islamic Schedule of Charges on all the bank services rendered to except financing facility
- Customer having valid CNIC/NICOP and aged 60 years & above. Account can be open singly or jointly. However prime account holder will be a Senior Citizen, while secondary account holder can be less than 60 years.