Regular Income Provider
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A profit-sharing investment account in which profits are paid every month on a lump sum investment
Al Baraka Bank recognises the need to provide you with the opportunity to earn a regular income from your investment on a monthly basis. This unique account operates on the Islamic risk/reward partnership principle which enables you to take care of your monthly financial commitments.
Simply invest a minimum of R20 000, or more for a year or longer and you will regularly receive your monthly profit-share payout.
The flexibility of the account allows you to add to your investment capital by a minimum of R1000 a time - that way increasing your monthly income to meet your changed circumstances.
The profit your account generates will be calculated at the end of each month and remitted to you within 4 working days of that date.
Profits can be paid out by cheque, or deposited in another Al Baraka account or in any other bank in South Africa.
The Regular Income Provider offers you the following flexibility:
* You may add to your investment capital at any time.
* You may invest longer than the stipulated 12 month investment period.
* You may decide how you would like your profits paid out.
* You may reinvest your surplus monthly profits in the same account provided that it is over R1000, or you may invest it in another Al Baraka account.
Click here to contact us and find out more about investing with Al Baraka Bank.
Click here to download application forms