Riba Free Banking - Standard Chartered Bank Pakistan

Saadiq Saver AccountAt Standard Chartered Saadiq, we believe that banking should come with a peace of mind. Saadiq Saver offers long term savings on your investments without compromising your values and beliefs.

Benefits

• Peace of mind in placing funds with a bank that uses it in Shariah compliant (Riba-free) transactions.
• More savings – Higher Profits.
• Complete transactional convenience.
• Funds are accessible with Saadiq Visa Debit Card 24 / 7 at over 2,000 ATMs and 50,000 post terminals in Pakistan.
• Saadiq Visa Debit Card is accepted at 1 million VISA network ATMs and 27 million outlets worldwide.
• World-class benefits of Internet Banking, SMS and Phone Banking services available 24 / 7.

Salient Features

• Unlimited deposits and withdrawals.
• Monthly average balance requirement of PKR 100,000/- only.
• Tier based profit rates.
• Profit is calculated on monthly average available balance and paid six monthly (30th June / 31st December).
• Access your funds with Saadiq VISA Debit Card 24 / 7.
• Online Banking, ATM / Visa Debit Card, SMS Banking and Phone Banking services available.
• Access your funds through a network of over 130 online branches in 32 cities and more than 2,000 ATMs across Pakistan.

Product Structure

Saadiq Saver is a 'Special Savings Account' based on the Islamic principle of Mudaraba whereby the account-holder is the investor (Rabb-ul-maal) and the bank acts as an investment manager (Mudarib) who invests the account-holders' funds in Islamic assets to earn profits and share with them based on their pre-determined weightages declared at the start of every month, details of which are available on the bank's website or can be obtained from our branches upon request.

The product structure is based on a profit & loss sharing concept hence it may lead to a possibility of a net loss in any given period in which case the same will be passed on to the account-holders (investors) on pro rata basis and the Mudarib will not be compensated for its efforts and expenses incurred on investment activities performed on behalf of the account-holders.
We at Standard Chartered Saadiq are committed to offering Shariah compliant banking services and ensure that your funds remain Riba-free.

Useful Information

• Shariah Consultants
• Mudarib's Profit Share and Weightages
• Saadiq Terms and Conditions (Credit Cards)
• Saadiq MID

• FAQs & Disclosure / Announcement
• Saadiq Schedule of Charges
• Saadiq Terms and Conditions (Urdu)
• Saadiq Account Opening Form (Customer Copy)

• Saadiq Home Finance Pricing
• Fatwas
• Saadiq Terms and Conditions
• Saadiq Term Deposit Application Form
• Straight2Bank Service Charges

Personal Banking - Saadiq - Standard Chartered Bank Pakistan