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PERSONAL BANKING

We provide personal banking products for our esteemed customers.

Current Account (Qard)

Jaiz Bank accepts deposits into Current Account from its customers based on principle of Qard (Demand loan). The customer gives the bank authority to use the funds to invest in its operations, with the condition that the deposit is considered as a non-interest loan by the depositor to the bank.

Savings account (Mudarabah)

Jaiz Savings Account is operated based on the principle of Mudaraba (Partnership). The account allows customers earn profit on their deposits. Account holders are considered as investors while the bank act as the fund manager and invests the depositors’ monies into financially profitable, socially desirable and commercially viable business ventures which are legal and Shariah compliant. Gross profit made from the investment is distributed at the end of every month based on customers account balance at a profit sharing ratio of 30:70 between the Customer and Bank respectively.”

Jaiz Premium Savings Account (JAPSA)

At Jaiz Bank, building your wealth ethically is always a priority. Jaiz Bank's JAPSA Term Deposit is an innovative product designed specially to meet your investment needs. Our Term Deposit offers you the option of higher profit rates at tenures which suit your needs. Account holders are considered as investors while the bank acts as the fund manager and invests the depositors’ monies into financially-profitable, socially-desirable and commercially-viable business ventures which are legal and Shariah compliant.

Jaiz Kids Account (Mudarabah)

Opening an account for your child is an exciting moment. We at Jaiz Bank believe that learning the concept of saving early would help children develop financial responsibility later in life. This is why we introduced the Jaiz Kids Account. This account can be opened in trust for a child by the parent/guardian who will be the primary account holder with the responsibility of running it until the child attains adulthood. The account is operated based on the principle of Mudaraba (Partnership). It allows customers earn profit on their deposits.

Jaiz Auto Finance (Murabaha)

This a product designed to finance acquisition of automobiles for salary account holders in public, private and other reputable organizations. This is financed under Murabaha (cost plus). The bank purchases the vehicle and sells to the customer with a reasonable markup (otherwise called profit). Payment for the vehicle sold to the customer is usually on monthly basis from the customer’s salary for a period of 3 to 4 years.

Jaiz Household Appliances Finance (Murabaha

This is a consumer product that enables customers to acquire household appliances ranging from refrigerators, freezers, furniture, kitchen appliances, laptop computer, TV set, etc. with the flexibility of a monthly payment plan. This is financed under Murabaha (cost plus). The bank purchases the appliances identified by the customer and sells same to the customer at cost plus profit. Payment is usually on monthly basis from the customer’s salary for a period of up to 24 months.

Jaiz General Consumer Finance (Murabaha)

This is a consumer product that enables customers acquire building materials, consumable goods and real estate with the flexibility of a monthly payment plan. This is financed under Murabaha (cost plus). The bank purchases the goods identified by the customer and sells same to the customer at cost plus profit. Payment is usually on monthly basis from the customer’s salary for a period of up to 36 months.

Jaiz Home Finance (IjarawaIqtina)

This is a product that enables a customer to own a house. Under Jaiz Home Finance, the Bank partners with its customer to jointly own a house identified by the customer. The customer in turn agrees to lease the Bank’s share of the house while gradually buying that portion of the house owned by the bank. Rent paid by the customer gradually decreases as customer’s share of the house increases with buying out of the bank’s share.

Ijara Service

This product is ideal for individuals/Salary employees looking for financing to pay for services such as school fee’s, rent, medical Bills etc. Under this arrangement the Bank pays for the service and the customer pays back over a period of time.

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You can get your Jaiz bank account ready and working within a snap of a finger.

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