If you found this page informative, share it now!

A Holy Journey with Comfort & Convenience

Meezan Labbaik Saving Asaan is an ideal deposit product for you if you are an individual saver and wish to save for your spouse, children, parents, etc. You can take benefit from this special Mudarabah based Deposit account (available in six months to twenty years plan) for Umrah & Hajj where you will also be entitled for profit on the deposited amount, thus providing Customers a bigger incentive to save for Umrah/Hajj through Meezan Labbaik Saving Asaan. Meezan Labbaik Saving Asaan Account can be opened by Individuals.

Key Features

Minimium Investment

Minimium Investment

Minimum deposit required to open an account is Rs. 1,000/-

Duration

Duration

Labbaik Saving Plan is available for six (06) months to twenty (20) years

Additional Deposits

Additional Deposits

Customers can deposit additional amounts in order to complete the deposit amount and make the desired journey sooner

Recurring Deposits

Recurring Deposits

Customers will deposit monthly contribution as per the deposit schedule plan

Customer Choice

Customer Choice

After completion of the desired deposit amount, customers will have a right to travel with Meezan Bank or redeem their funds to go with an alternate company

Withdrawal Schedule

Withdrawal Schedule

No pre-mature withdrawal schedule will be applied

One Account, Many people

One Account, Many People

Available for individuals, where customers can open a single / joint account with family members

50% Redeem

50% Redeem

Customers may redeem 50% of the contribution as per defined procedure, one-time in the entire deposit tenure

No Card

No Cheque Book or Card

Labbaik Saving Account is a non-chequing account, where no cheque book or VISA Debit Card will be issued

How the Labbaik Savings Account Works

Download Fatwa in English Download Fatwa in Urdu

On agreeing to become a Labbaik Saving Asaan Account holder, you will enter into the relationship of Mudarabah with the Bank. Under this relationship, you will be the Investor (or Rab-ul- Maal) and the Bank will be the Manager (or Mudarib) of the funds deposited by you in the Deposit pool. These funds will be utilized by the Bank to provide financing to customers under Islamic modes of financing, including but not limited to Murabaha, Ijarah, Istisna and Diminishing Musharakah.

Profit Sharing Ratio

Bank will share 50% of Gross Income as Mudarib

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

Weightages for the Month of May 2018
Account Categories Profit Distribution Period Tier Groups Weightage Assigned
Saving Account Monthly - 0.79
Consolidated Weightages
Profit Rates for the Month of March 2018
Average Monthly Balance (PKR) Profit Rates (% per annum)
On Average Monthly Balance 3.01%
Historical Profit Rates

How to Apply for a Labbaik Savings Account

Method 1.

Apply Online

Alhamdulillah, Meezan Bank is the first Bank in Pakistan that offers the facility of filling its Account Opening Form online.

Apply Online

Method 2.

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.

Download Form

Method 3.

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.

Locate a Branch

Open a Labbaik Savings Account Now!

Fill out the form below and you'll be guided about how you can open your new account.

Name *
Email
Phone Number *
City
Nearest branch