Mudarabah Term Deposit Receipt (MTDR)

Features and Benefits
  • Based on Mudarabah Principle of Islamic Shari'ah.
  • 1 month to 12 months and above.
  • Payment on maturity or premature encashment.
  • Auto Renewal Facility at maturity.
  • Withdrawal facility up to 90% of present encashment value of MTDR.
  • Account can be opened in joint names.
  • Income Distribution Method
  • Individual, Corporate Body, Trust, Club, Association, Society and Non-trading Concerns may open and operate an A/C.
  • Eligibility
  • Income is distributed between the Bank (Mudarib) and the Depositor (Saahibul Maal) as per Weightage Average Method.
  • Requirements
  • Photocopy of NID/Passport/Employer’s Certificate/Certificate from any dignitary/Driving License.
  • Passport size photograph of the applicant and the nominee (attested by the applicant).
  • Specific papers/documents as per requirement.
  • Fees/ Service Charges
  • No Fee or Service Charge.