Mudaraba Monthly Income- Uparjon

A Shariah-compliant Mudaraba monthly income scheme designed for Bangladeshi citizens, offering profit distribution according to a pre-agreed ratio. Customers can make monthly installment deposits and receive the maturity amount according to their preferred payment method, subject to the applicable terms and conditions.

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Eligibility

Any citizen of Bangladesh having sound mind, individually or jointly, can open this account.

Islamic Principles

Mudaraba is a partnership in profit whereby one party provides capital and the other party provides skill and labour. Profit is distributed as per the pre-agreed ratio, and loss is borne by Sahib Al-Maal.

Required/Identification Documents

Complete account opening form with TP & KYC. Photocopy of NID/Passport/Driving License/Ward Commissioner Certificate with photo. (Photo must be attested by Ward Commissioner.) Two recent passport-size photographs of each account holder, duly attested by the introducer. Introducer’s signature in the A/C opening form and at the back of the photograph(s) of signatories. Passport-size photograph of nominee, attested by the account holder. Proof of Address: Copy of Utility Bill for the latest 3 months. Updated TIN (Optional). Any other documents as required under the prevailing rules & regulations of the Bank, considering the nature of the Depositor(s). Charges: See the Schedule of Charges of the Bank.

Payment on Maturity

On maturity of a regular scheme, the bank will pay the balance amount (after deducting Tax, VAT, Excise Duty, etc.) as per customer preference, either by cash, payment order, or to the linked Current or Savings Account, or the amount will be capitalized and rolled over for the further period of time.

Installment Deposit

Installment may be deposited within the 25th of every month by cash/cheque or under the depositor’s instruction from another deposit account. If the 25th day of the month happens to be a holiday, the installment will be deposited on the next working day.

Prematurity Profit Calculation Method with Rate

No profit will be given if the account is closed before 1 year from the opening date. After one year, the customer will get the Mudaraba Savings Account (MSA) rate. If a customer wants to close the A/C between two maturity periods, the customer will get the full maturity rate for the previous maturity tenor and the regular Mudaraba Savings Account (MSA) rate for the remaining period. However, no profit will be given for several days of a particular month.

Profit Rate for Quard Amount

No profit will be charged against the Quard amount, and no profit will be distributed against the Quard amount. Profit will be distributed only for the remaining amount. Tk. 2,000/- for stationery and stamp fees at actual will be paid by the customer.

Investment Growth Calculator

Adjust your investment, tenure and expected profit rate to estimate potential growth.

InvestmentBDT 100,000

BDT 10,000BDT 5,000,000

Tenure5 Years

1 Year15 Years

Expected Profit Rate8.5%

5%15%

Islamic

BDT 150,366

8.5%

Conventional

BDT 118,769

3.5%

Estimated additional growth: BDT 31,597

Growth over time

5-year projection

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Mudaraba Monthly Income- Uparjon

Required/Identification Documents

Complete account opening form with TP & KYC. Photocopy of NID/Passport/Driving License/Ward Commissioner Certificate with photo. (Photo must be attested by Ward Commissioner.) Two recent passport-size photographs of each account holder, duly attested by the introducer. Introducer’s signature in the A/C opening form and at the back of the photograph(s) of signatories. Passport-size photograph of nominee, attested by the account holder. Proof of Address: Copy of Utility Bill for the latest 3 months. Updated TIN (Optional). Any other documents as required under the prevailing rules & regulations of the Bank, considering the nature of the Depositor(s). Charges: See the Schedule of Charges of the Bank.

Payment on Maturity

On maturity of a regular scheme, the bank will pay the balance amount (after deducting Tax, VAT, Excise Duty, etc.) as per customer preference, either by cash, payment order, or to the linked Current or Savings Account, or the amount will be capitalized and rolled over for the further period of time.

Prematurity Profit Calculation Method with Rate

No profit will be given if the account is closed before 1 year from the opening date. After one year, the customer will get the Mudaraba Savings Account (MSA) rate. If a customer wants to close the A/C between two maturity periods, the customer will get the full maturity rate for the previous maturity tenor and the regular Mudaraba Savings Account (MSA) rate for the remaining period. However, no profit will be given for several days of a particular month.