Deposit in Raast Youth Savings Account are accepted on Musharakah basis (Profit & Loss) strictly in conformity with the principles of Islamic Shariah. The deposits received in Raast Youth Savings Account are invested in Islamic assets like Murabaha, Ijarah, Diminishing Musharaka or Islamic Sukuks etc which are duly approved by Shariah Board. The Raast Youth Savings account opening facility is available in all BOK Islamic Branches as well as Islamic Banking Windows at Conventional Branches of BOK.
- Minimum initial deposit requirement is Rs.10/-
- No minimum Balance requirement
- **First ATM/Debit Card (Free of Cost)
- **First Cheque book of 25 leaves (Free of Cost)
- **No annual fee charges on ATM/Debit Card until age of 25 Years
- Free SMS alerts on each transaction.
- Free Online withdrawal and deposit.
- No account closure Charges.
- No withdrawal and deposit limitation.
- On request, free one bank statement per month
- Free DD/PO in favour of Universities/ Education Boards/ Schools/ colleges/ Educational Institutions etc. in Pakistan, irrespective of the amount.
Special Incentives for Gold Medalist (for Bachelor’s Degree and Master Degree Holders from HEC recognized Universities)
- Life time free ATM/Debit Card Issuance
- Life time free cheque book (25 leaves per Year)
- Life time free ATM/Debit card annual service charges
- For Gold Medalist Conditions Apply: Account must be maintained minimum 01 year before result announcement under this scheme.
- Individuals (Students) at the age of an applicant (18 Years up to 25 Years)
- **Upon attaining the age above 25 years or change in status of applicant whichever comes first, service charges shall be applicable as per Schedule of Service Charges- Islamic.
- For further details, visit any nearest Islamic Branch of BOK or Islamic Banking Windows.
Withholding Tax and Zakat applicable as per prevailing laws and regulations of Pakistan.
Note: Weightages will be announced before starting of each month and Profit will be declared up to seven days of subsequent month. In case of loss, loss will be bear as per investment according to rules of Musharakah. For historical profit rates please click on link https://www.bok.com.pk/islamic/profit-rates