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.
Minimum deposit required to open an account is Rs. 1,000/-
Labbaik Saving Plan is available for six (06) months to twenty (20) years
Customers can deposit additional amounts in order to complete the deposit amount and make the desired journey sooner
Customers will deposit monthly contribution as per the deposit schedule plan
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
No pre-mature withdrawal schedule will be applied
Available for individuals, where customers can open a single / joint account with family members
Customers may redeem 50% of the contribution as per defined procedure, one-time in the entire deposit tenure
Labbaik Saving Account is a non-chequing account, where no cheque book or VISA Debit Card will be issued
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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.
Bank will share 50% of Gross Income as Mudarib
Depositor will share 50% of Gross Income as Rab-ul-Maal
| Products | Tier Groups | Weightage Assigned |
|---|---|---|
| Labbaik Savings Aasaan | Monthly | 0.66 |
| Products | Tenure | Profit Assigned |
|---|---|---|
| Labbaik Savings Aasaan | Monthly | 18.17% |
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 FormYou 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 BranchFill out the form below and you'll be guided about how you can open your new account.