U Islamic Salary Transfer Account

Free services, complete satisfaction!

U Islamic Salary Transfer Account is a transactional account that is specially tailored to match the daily financial needs of individuals, sole proprietors, partnerships, companies and payroll accounts, while offering them free banking services. This is a Remunerative Current Account, based on the Islamic principle of Mudarabah and is specially designed for customers who wish for exceptional banking services without paying for them.

Additional Benefits & Service Fee Waivers

(Tier 1) Basic Waivers – (PKR 25K – 99.999K)

By opening or maintaining a monthly average balance between Rs. 25,000/-to Rs. 99,999/-, customer will be entitled to the following free services:

Cheque Book (25 leaves)
Pay Orders Issuance & Cancellation
Debit Card (Pay Pak)
Account Statement & Certificates

(Tier 2) Super Waivers – (PKR 100K & Above)

By opening or maintaining a monthly average balance of Rs. 100,000/- and above, customer will be entitled to the following free services:

+All Tier 1 Basic Waivers
Debit Card (MasterCard)
Same Day Clearing

* Terms & Conditions are applicable.

Shari’ah Structure

U Islamic Salary Transfer Account is a Savings deposit product based on the Islamic principle of “Mudarabah” which is a kind of partnership, whereby customer will deposit funds on the basis of Mudarabah. The Bank will act as a Mudarib (Manager) and Customer will act as a Rab-ul-Maal (Investor). Funds under this Mudarabah arrangement will be invested in the deposit pool maintained by the Bank and the profit will be distributed as per pre-agreed Profit Sharing Ratio and Weightage announced by Pool Management.

Moreover, profit will be distributed as per approved prevailing U Bank Islamic Banking Profit & Loss Distribution and Pool Management Policy after Shari’ah Advisor’s approval.

Salient Features

Minimum Initial Deposit Requirement is of PKR 1,000

No Account Maintenance Charges

Unlimited Deposits & Withdrawal

No Maximum Balance Limit

Profit calculated on Monthly Average Balance (MAB) & paid on Monthly basis

Free SMS Alerts, Internet & Mobile Banking, E-Statements Facility, Discounts on Debit Card

Zakat and Taxes are applicable as per regulations

Required Documents

Valid CNIC of applicant
Source of income or salary slip (for housewives’ source of income of the spouse can be considered)
Account opening form

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Success Stories

Bringing Dreams to Life

Yasir Sheikh, a resident of Sheikh Muhalla in Shikarpur, Sindh, always dreamed of running his own business. He began with a small cart selling snacks on the street and gradually expanded to owning a grocery store. As his family grew, Yasir’s desire to provide a quality education for his children intensified. He enrolled them in good private schools, but soon found himself struggling to manage the school fees alongside daily expenses. Faced with the difficult choice between feeding his family and paying for education, Yasir felt overwhelmed and worried. In search of a solution, Yasir turned to U Bank for financial support. The bank's staff guided him through the loan options, and he quickly secured the necessary funds with Barhta Karobar Plus Loan. Within a year, Yasir not only expanded his grocery business but also successfully repaid the loan. Today, his store offers a wider variety of products, his income has increased, and his children are receiving the education he always dreamed of providing. Yasir’s story is a testament to how U Bank's microfinance services can empower small businesses to improve lives and livelihoods in Pakistan.

From Salesman to Business Owner

M. Iqbal Qadri from Adda Shabeel, Sahiwal – Punjab, Pakistan, is a determined business owner, who was working for a small pharmacy as a salesman before progressing to opening his own shop in Sahiwal. Sahiwal, where he is from, is an agricultural region and his family had traditionally been farmers. Between 2006 and 2007, Iqbal worked as a salesman, before he decided to open up his own retail store. He further required capital to expand it and increase his customer inflow. With suggestions from his friends, he twice availed the U Bank Islamic Banking - Apna Karobar Premium Murabaha Financing facility to add investment to his store for its growth. Today, he owns the shop himself, has added inventory and variety to his store, does not have to pay rent, sends his kids to good schools, and is living a good life.

U Bank Transforming Lives of Entrepreneurs

In the rural town of Kot Laysan, Rajanpur, Punjab, Tauqeer Ahmed has been running a successful clothing shop in Saddar Bazaar for 16 years, offering a wide variety of female clothing, from formal wedding clothes to casual dresses. Before starting his own business, Tauqeer worked as a salesman in a jewelry store for a decade, where he struggled with financial constraints. Realizing the potential in the clothing market, he decided to open his own shop, which required less initial investment and promised higher sales. To further expand his business, Tauqeer turned to U Bank for a Running Finance facility. The bank responded promptly, processing his loan quickly and offering a low markup rate. With this financial support, Tauqeer was able to invest in his business, resulting in substantial growth. Now, he enjoys daily sales of thousands of rupees, his income has improved significantly, and he has elevated his household's living standards. Tauqeer’s story highlights the vital role that U Bank's microfinance services play in empowering small and medium-sized businesses in Pakistan.

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