A minimum deposit of R100 is required to open a Monthly Investment Plan and thereafter a minimum monthly investment of R100.
Funds invested for a fixed 12-month period.
All deposits and withdrawals will be subject to Al Baraka's banking fees, click here to view
The Bank earns profit from its financing activities which are carried out on the basis of Murabaha, Musharaka and Ijarah finance contracts. The profit earned is shared with the investment depositors based on the Bank’s profit distribution model.
Actual profit earned for the month is used to calculate the rate of return to the depositors and can vary month to month.
For the month of April the profit earned was 2.8770% (March 2022 - 2.7860%)
The following documentation is required to apply:
The founding document of the applying entity.
Click here for a list of Entities with their respective document.
Proof of address, not older than 3 months, for the verification of the business trading address.
South African green bar-coded Identity Document or Smart ID for each of the authorised signatories
South African green bar-coded Identity Document or Smart ID for each of the authorised signatories and
Proof of address, not older than 3 months, for the verification of residential address of the authorised signatories
Click here to view all acceptable forms of proof of address required to open an account
Please note that depending on the nature of business and type of Entity additional information will be requested.
With these on hand, you can then contact your nearest branch to apply, or complete the Contact Form on this page for our Sales Consultant to call you.
Get in touch
Please complete the form below and a member of our team will contact you as soon as possible: