• Peace of mind in placing funds with a bank that uses it in Halal (Riba-free) transactions
• More Investments – Higher Halal Profits
• No penalty on pre-mature upliftment (early withdrawal)
• Automatic Rollover
• Flexible profit payments

• Shariah compliant fixed deposit account
• Minimum deposit placement of PKR 100,000 only
• Flexible profit payments
• Automatic Rollover
• 3 options at the time of maturity:
  
    1. Rollover principal only
    2. Rollover principal with profit only
    3. Upliftment
  
• No penalty on pre-mature upliftment (early withdrawal)
• Non-stop Branch Banking from 9 AM to 5 PM daily* (except Friday prayer break)

* 9 AM to 7 PM daily non-stop Branch Banking at selected branches (except Friday prayer break)

Saadiq Term Deposit Account is based on the Islamic principle of “MudarabaMutlaqa” (Unrestricted 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 well-merited funds remain Riba-free.

In case of pre-mature upliftment, the account-holder will receive profit for the last completed tenure based on respective profit rates for the number of days the funds are held with the bank. However, this is subject to a minimum investment period of 1 month. For upliftment within 1 month, profit will not be payable, only principal will be returned.