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A Savings Account with Halal Profit

Meezan Bachat Account provides halal monthly profit for low income and middle-income group of customers with the same convenience and services of a regular savings account. It offers varying profit weightages to different amount tiers.

Meezan Bachat Account can be opened by Salaried or Self-employed, Housewives and Retired individuals.

Key Features

Free Chequebook

No charges on issuance of chequebook

Free Pay Orders

Free Pay Orders

Free Internet Banking

Free Internet Banking facility

Low Minimium Investment

Minimum deposit required to open an account is Rs. 50,000/-

Free Online Banking

Free Online Banking service at all Meezan Bank branches

Profit Payment

Profit payment is made to your Meezan Bank account on a monthly basis

Profit Calculation

Profit will be calculated on the Daily Product Basis

Amount Tiers and Expected Profit Rates for Sep – 2023
Tier 1 - Rs 1 to 499.99 K 14%
Tier 2 - Rs 500 K & Above 11.5%
Effective 1st September 2023, profit calculation in Meezan Bachat Account shall be done in following manner.
Illustration:
Example (effective 1st September 2023): If a customer maintains closing balance of Rs 700,000 per day in his Meezan Bachat Account, the applicable profit calculation shall be as follows:
Profit Calculation
Rs 499,999 x 14% / 365 = Rs 191.78 for 1 day
Rs 200,001 x 11.5% / 365 = Rs 63.01 for 1 day
Total Profit (before the impact of taxation) for 1 day = Rs 254.79 (Rs 191.78+ Rs 63.01)
Note: Prior to 1st September 2023, if customer's balance fell in a higher tier, then entire amount was assigned weightage of that respective tier.

How the Bachat Savings Account Works

Download Fatwa

On agreeing to become a Meezan Bachat Account holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharkah.

Profit Sharing Ratio

Bank will share 50% of Gross Income as Mudarib

Depositor will share 50% of Gross Income as Rab-ul-Maal

Weightages
Weightages for the Month of June 2024
ProductsTier GroupsWeightage Assigned
Meezan Bachat AccountRe.1 - 499.99 K0.52
Meezan Bachat Account500 K & Above0.42
Consolidated Weightages
Profit Rates
Profit Rates for the Month of May 2024
ProductsAmountProfit Assigned
Meezan Bachat AccountRe.1 - 499.99 K14.04%
Meezan Bachat Account500 K & Above11.56%
Profit Rates
Historical Profit Rates

Want to Open a Bachat Savings Account

Download, Print, Fill Form

PDF version of our printed Account Opening Form is also available for download. You can print the form, fill your details and submit it along with the required documents at your preferred branch.

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Visit a Branch

You may visit any branch of Meezan Bank and our staff will assist you in filling the printed Account Opening Form and opening your account.

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