 |
For the people who hold the holy desire to go for the Hajj with an onetime deposit along with bank's given profit there on, Al-Arafah Termed Hajj Deposit has been introduced. |
|
|
After maturity, onetime deposit will meet up the expenses of Hajj. |
|
|
One can prepare for the Hajj within five to twenty five years and he/she can deposit the required amount accordingly. |
|
|
Initial amount will be deposited under the procedure of Mudaraba. The main attraction of the scheme is that, profit will be accumulated on the deposit in a daily-stay basis. In fact it holds 0.10 more weightage than on 3 years deposit. |
|
|
This scheme can be opened with own name, or in the name of any predecessors or close relatives. |
|
|
After opening this Hajj account, if someone cannot go for pilgrimage for any unavoidable reason or dies, the provision of "Badla Hajj" can be given. |
|
|
If the Hajj account is opened in the name of other person, and that person fails to go for pilgrimage for any unavoidable reason or dies, the arrangement of "Badla Hajj" must be done. Under no circumstances the deposited amount will be withdrawn. |
|
|
After maturity, if the deposited amount along with accumulated profit is less than the Hajj expenditure on that particular year, the depositor can make up the residual amount at once and go for pilgrimage. |
|
|
A separate form has to be filled up to open Termed Hajj deposit. |
|
|
Under this scheme one can open an account in the name of a minor or a child too. |
|
|
Tax will be applicable on the deposited amount along with profit according to the country law. |
|
|
Estimated expenditure for Hajj for next 25 years after 2008 and the relative one time deposit will be as under: |
|
| Year |
Deposit |
Estimated expense for Hajj |
| 5 |
1,00,000/- |
1,66,000/- |
| 6 |
95,000/- |
1,75,000/- |
| 7 |
88,000/- |
1,82,000/- |
| 8 |
82,000/- |
1,91,000/- |
| 9 |
78,000/- |
2,01,000/- |
| 10 |
74,000/- |
2,11,000/- |
| 11 |
68,000/- |
2,20,000/- |
| 12 |
66,000/- |
2,32,000/- |
| 13 |
62,500/- |
2,44,000/- |
| 14 |
59,500/- |
2,57,000/- |
| 15 |
55,000/- |
2,69,000/- |
| 16 |
53,000/- |
2,82,000/- |
| 17 |
48,000/- |
2,98,000/- |
| 18 |
46,000/- |
3,12,000/- |
| 19 |
43,000/- |
3,28,500/- |
| 20 |
41,000/- |
3,44,000/- |
| 21 |
39,000/- |
3,62,000/- |
| 22 |
37,000/- |
3,82,000/- |
| 23 |
35,000/- |
4,00,000/- |
| 24 |
32,500/- |
4,20,000/- |
| 25 |
31,000/- |
4,41,000/- |
|
Home
Copyright © 2009 Al-Arafah Islami Bank. All rights reserved.