U Islamic Asaan Current Account
Minimum requirements with maximum convenience!
U Bank Islamic Banking offers a Shari’ah-compliant current account based on the Islamic principle of Qard. U Islamic Asaan Current Account fulfils your daily banking needs at your convenience and is specially designed for customers who may face challenges in providing extensive documentation for opening a bank account. This is the perfect Shari’ah-compliant banking solution for daily wage earners, skilled/unskilled workers, self-employed individuals, farmers, housewives, students, etc. to benefit from our bank account services.
U Islamic Asaan Current Account is the perfect choice for customers who wish for hassle-free, easy account opening without excessive documentation requirements. The account can be opened singly or jointly only by Pakistani resident individuals.
Islamic Concept
U Islamic Asaan Current Account is based on the Islamic principle of Qard, whereby the bank is a ‘debtor’ and the depositor is the ‘creditor’. This is a non-remunerative account where the bank is liable to pay the depositor’s money back to the customer on demand without any additional charges.
Salient Features
Account opening with a minimum balance of PKR 100 only
Maximum credit balance limit of PKR 1,000,000
Maximum debit balance limit of PKR 1,000,000 per month
Free Internet and online branch banking facility
Account can be opened simply with a valid CNIC
Debit card and cheque book facility
Required Documents
- Valid CNIC of the applicant
- Single pager account opening form
Terms & Conditions are applicable.
FAQs
1. How can a customer open a U Islamic Asaan Current Account?
U Islamic Asaan Current Account can be opened with a simplified single-page account opening form
along with just PKR 100 and a valid CNIC or NICOP.
2. Who is eligible to open the U Islamic Asaan Current Account?
The following resident Pakistanis with a valid CNIC or NICOP are eligible to open a U Islamic Asaan Current Account:
- Skilled Workers (Electricians, Plumbers, Mechanics)
- Unskilled Workers (Cleaners, Guards, Clerks)
- Self-employed (Shopkeepers, Hawkers)
- Daily wage earners
- Farmers
- Housewives
- Students
- Pensioners, etc.
3. What is the minimum amount required to open a U Islamic Asaan Current Account?
The minimum amount required to open a U Islamic Asaan Current Account is PKR 100.
4. What is the Shari’ah structure of U Islamic Asaan Current Account?
U Islamic Asaan Current Account is a Shari’ah-compliant current account based on the Islamic principle of Qard, where the bank cannot give any profit/non-routine service to the customer, as any
incentive over loan is Riba.
5. Is there any account maintenance fee associated with U Islamic Asaan Current Account?
There is no account maintenance fee in U Islamic Asaan Current Account.
6. What are the deposit (credits) and withdrawal (debits) limits?
The limits to deposits and withdrawals are as follows:
- Total debit per month: PKR 1,000,000
- Total credit balance limit: PKR 1,000,000
7. Can U Islamic Asaan Current Account be opened jointly?
Yes, the U Islamic Asaan Current Account can be opened jointly as well.
8. Is there any limit on the number of transactions for U Islamic Asaan Current Account?
No, this account provides the facility of unlimited transactions.
9. What are the value-added services to be offered on this account?
- FREE Online Banking Services
- FREE Internet Banking
- FREE Mobile App
- FREE SMS Alerts
- Phone Banking (24/7 Call Centre)
- All other facilities can be availed such as Debit Cards, Cheque Books, Pay Orders and etc. are as per the prevailing bank’s Schedule of Charges
Free services are provided to all current account customers across the board.
10. Will I be allowed to open regular accounts in the bank in addition to the U Islamic Asaan Current Account?
No, customer won’t be allowed to open any other regular account if they already have a U Islamic Asaan Current Account.
11. Can I book Term Deposit Receipt (TDR) through my U Islamic Asaan Current Account?
Yes, a customer can book TDR through his/her U Islamic Asaan Current Account.
12. In case of further queries or ambiguities, what should I do?
You may call our 24/7 helpline at +92 51-111-282-265 or visit your nearest Islamic banking branch.