Al - Barakah Junior Jumbo Saving Account
Overview
A savings account specifically designed to enable parents and/or guardians conveniently save for their children, especially for school fees, medical treatment etc.
A savings account specifically designed to enable parents and/or guardians conveniently save for their children, especially for school fees, medical treatment etc.
- Underlying Contract is Qardh.
- Account can be opened and operated in TZS/USD/EUR/GBP
- Minimum opening balance is TZS 20,000 and for USD/GBP/EUR 20
- Minimum Operating balance is TZS 10,000/- USD/GBP/EUR 20
- Withdrawal fee TZS 3,000
- < 4 Transaction p.a USD/EUR/GBP: FREE
- > 4 Transaction p.a USD/EUR/GBP: 10.00 USD/EUR/GBP
Shariah Compliant i.e. funds are not channeled into impermissible activities.
Withdrawals are restricted to 4 times per annum
Eligible to a non-linked TemboCard visa / MasterCard
The account is not allowed to be registered with Simbanking or Internet banking
No joint account or more than one account is allowed per child
Account is for children below 18 years
Child’s Birth Certificate
Parent/Guardian Legal ID
2 Passport size photos each for Parent/Guardian and Child
Low risk individual customers and customers using NIDA ID are not supposed to provide introduction letter from VEO/WEO
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