Askari Halal Investment Accounts (AHIA) – Non Chequing Accounts (Term Deposits)

Description Specific Product Details
Name of Product: Askari Islamic Investment Certificates (AIIC)
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Term Deposit
Minimum Balance Required: Rs. 50,000/- (minimum investment amount)
Tenors: 3 months, 6 months , 1 year, 3 years, 4 years, 5 years
Profit Calculation: Monthly
Periodicity of Profit Distribution:
  • For 3-6 months tenor = at maturity
  • For 1 year – 5 years tenor = monthly, quarterly and at maturity options
Service Charges (if any): As per Schedule of Charges – Islamic
Other Features:
  • Premature withdrawal option available
  • Chequing account required for AIIC Issuance and profit payment
Description Specific Product Details
Name of Product: Askari Khas Islamic Deposit Account (AKIDA)
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Term Deposit
Minimum Balance Required: Rs. 200,000/= (minimum investment amount)
Tenors: 3 months, 6 months, 1 year, 2 years
Profit Calculation: Monthly
Periodicity of Profit Distribution: At maturity
Service Charges (if any): As per Schedule of Charges – Islamic
Other Features:
  • Premature withdrawal option available
  • Chequing account required for AKIDA Issuance and profit payment
Description Specific Product Details
Name of Product: Askari Halal Certificates of Asaan Monthly Mudarabah (AHCAMM)
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Term Deposit
Minimum Balance Required: Rs. 50,000/-
Tenors: Minimum: 1 month
Maximum: no limit (auto roll-over on monthly basis)
Profit Calculation: Monthly
Periodicity of Profit Distribution: Monthly
Service Charges (if any): As per Schedule of Charges (SOC)
Other Features:
  • Premature withdrawal option available
  • Chequing account required for AHCAMM Issuance and profit payment
Description Specific Product Details
Underlying Mode Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Term Deposit
Minimum Balance: Rs.10,000/- (minimum investment amount)
Tenors: 1 Year
Profit Calculation: Monthly
Periodicity of Profit Distribution: Options available for monthly, quarterly, semi-annually or at maturity
Target Customers:
  • Senior citizens (aged 60 or above)
  • Incase of joint account, one of the account holders must be of age 60 or above
Service Charges (if any): As per Schedule of Bank Charges – Islamic Banking
Other Features:
  • Chequing Account (Askari Halal Saving Account (AHS)) required for issuance of Investment Certificate(s) and profit payment
  • Premature withdrawal option available
  • Free value added services
    • Issuance of ATM/Visa Debit Card
    • Cheque book
    • 50% waiver of fee for Safe Deposit Lockers
    • Free e-Statement facility
    • Duplicate account statements
    • I-Net Banking facility
    • Dedicated RM/CRO
    • SMS alerts facility (both debit & credit transactions)
    • Local Remittances (PO/DD/TT)
    • Online fund transfers
    • Special counters for senior citizen
Description Specific Product Details
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Term Deposit
Minimum Balance: Rs.10M (minimum investment amount)
Tenors: Minimum:  1 week
Maximum: 2 weeks, 1 month, 3 months, 6 months
Profit Calculation: Monthly
Periodicity of Profit Distribution: 1 week to 1 month = At maturity
3 months to 6 months = Monthly
Target Customers: Islamic Financial Institutions only
Service Charges (if any): As per Schedule of Charges (SOC)
Other Features: Withdrawals of funds are subject to written 24 hours notice for Rs. 10 – 200M deposit and 48 hours notice for Rs. 200M+ deposits.