U Islamic Noor Account
Empowering Women with Shari’ah-Compliant Savings
U Bank brings a Shari’ah-compliant banking solution tailored exclusively for women seeking Riba-free returns on their savings while fulfilling their everyday banking needs with ease and convenience. Perfect for females who are salaried/self-employed, entrepreneurs, freelancers, students, or housewives, the U Islamic Noor Account offers attractive expected returns, free services, and exclusive offers and discounts in accordance with Islamic principles.
Account opening with only PKR 1,000
Monthly profit payments
Free first Cheque Book & Debit Card (Pay Pak)
Free Pay Orders
Free Takaful coverage
Exclusive discount offers
Free Internet & Mobile Banking
50% waivers on small Locker annual fees (depending on availability)
50% discount on Consumer Finance processing fee
- Valid CNIC of female applicant
- Source of income or salary slip (for housewives’ source of income of the spouse can be considered)
- Account opening form
Terms & Conditions are applicable
What is U Islamic Noor Account?
U Islamic Noor Account is a Shari’ah-compliant Mudarabah based account, which offers savings along with core banking services, exciting benefits and features for the female segment of the society
Who can apply?
U Islamic Noor Account can be opened by females holding Pakistani nationality, including non-resident Pakistanis, entrepreneurs, salaried and self-employed individuals, college students, or housewives who wish to open bank account to fulfill their banking needs.
What are the unique benefits in U Islamic Noor Account for the customer?
- Free first Cheque Book
- Free first Debit Card (Pay Pak)
- Free Pay Orders
- Free Takaful coverage
- Free Internet & Mobile Banking
What are the special privileges or discounts being offered by U Islamic Noor Account?
- 50% waivers on small Locker annual fees (depending on availability)
- 50% discount on Consumer Finance processing fee
- Exclusive discount offers
What is the initial amount required to open U Islamic Noor Account?
The initial amount of PKR 1,000 is required to open U Islamic Noor Account.
Is there any account maintenance fee associated with U Islamic Noor Account?
There is no account maintenance fee in U Islamic Noor Account.
Is there any balance maintaining requirements on availing free services?
Free services will be offered to customers who maintain a monthly average balance (MAB) of PKR 10,000/- & above.
Are there any additional charges applicable on other variants of Debit Card?
Yes, only first PayPak Debit Card is free. Rest variants will be charged as per Schedule of Charges.
What is the mechanism of Profit calculation and payment?
Profit will be calculated on the basis of monthly average balance (MAB) and will be credited into customer’s account on monthly basis.
Is U Islamic Noor Account a Shari’ah-Compliant Product?
U Islamic Noor Account is based on the concept of Mudarabah – a kind of partnership in Islamic Shari’ah, in which the customer will deposit funds and the funds will be invested in the general deposit pool maintained by U Bank Pool Management and the profit will be distributed as per agreed Profit Sharing Ratio and Weightage.
Can U Islamic Noor Account be opened jointly?
Yes. U Islamic Noor Account primary customer should be a female and secondary can be a male or female.
In U Islamic Noor Account, is Zakat / Withholding applicable?
Yes, Zakat / Withholding tax will be applicable as per law.
Can a housewife open U Islamic Noor Account on income documents of her husband/financial supporter?
Yes, a housewife can open U Islamic Noor Account upon satisfactory submission of income documents of her husband / financial supporter.
What is the procedure of opening this account?
• Visit your nearest U Bank Islamic Banking branch
• Provide the necessary KYC documents
• Read & Sign the complete account opening form and submit
Is there any limit on the number of transactions?
No – this account provides the facility of unlimited transactions.
In case of further queries or ambiguities, what should I do?
You may call our 24/7 Phone Banking at UAN: +92 51 111-282-265 or visit the concerned Islamic Branch.
