Accounts & Deposits

BankIslami Account Opening, Rates & Gen Z Account

Every current, savings, and term deposit account BankIslami offers — including its youth-focused Gen Z Account — and how profit rates actually work.

• Profit & Loss Sharing
• Online Onboarding
• Gen Z Account

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University) · Last verified Sep 8, 2026

Bank Islami saving account rates aren't fixed interest rates. As a Shariah-compliant bank, BankIslami runs deposit accounts on a Mudarabah profit-and-loss-sharing basis: depositors are investors (Rabb-ul-Maal) whose funds the bank (Mudarib) invests in Shariah-compliant assets, with profit distributed by a declared weightage rather than a promised fixed percentage. The rate changes every month based on actual pool income, declared at the start of the following month.

Current Declared Profit Rates (May 2026)

Pulled directly from BankIslami's own official Declared Rates (PKR-FCY) circular — the most recently published figures at the time this page was last verified. Rates are set monthly, so always cross-check BankIslami's own Rates & Weightages page for the current month before relying on a number here.

Sourced from BankIslami's official "Declared Rates (PKR-FCY)" circular for May 2026, published on bankislami.com.pk/rates-weightages/. Profit Sharing Ratio for most general-pool products: Bank (Mudarib share) 50% : Customer (Rab-ul-Maal share) 50%. Rates are declared only for products in which depositors have actually invested, and can rise or fall every month — this is not a fixed or guaranteed return.

Profit Estimator

Enter your balance and choose an account type to estimate your monthly profit at the current declared rate shown above. This is an illustrative estimate only, not a BankIslami quotation — your actual profit depends on the rate declared for the month it's earned, which changes.

Illustrative estimate only. Assumes the annual rate shown applies evenly across your balance for a full month (simple annual rate ÷ 12); actual Mudarabah profit is calculated from the pool's real monthly income and can differ. Withholding tax applied per Section 151 of the Income Tax Ordinance, 2001 — see the Zakat & Withholding Tax section below for details.

BankIslami Accounts at a Glance

Account list confirmed from BankIslami's official Personal Banking > Accounts menu; Gen Z Account fees from the July–December 2026 Schedule of Charges.

Gen Z Account: What It Includes

How to Open a BankIslami Account

BankIslami offers Digital Onboarding for opening an account remotely, alongside traditional in-branch opening. For the full document checklist by customer type (salaried, sole proprietor, partnership, company) and a step-by-step walkthrough of digital onboarding, see BankIslami Account Opening.

Zakat & Withholding Tax on Your Account

Two separate deductions can reduce what you see in a BankIslami savings or profit-bearing account: Zakat, deducted once a year under Pakistan's Zakat and Ushr Ordinance, 1980, and withholding tax, deducted from every profit payout under Section 151 of the Income Tax Ordinance, 2001. They run on different rules and neither cancels out the other.

Zakat is only deducted from savings-type and profit-bearing accounts (PLS, TDRs, and similar products) — not from current accounts. If you're eligible for a faith/fiqh exemption, BankIslami's branches accept the standard CZ-50 declaration form; submit it before the Zakat valuation date to avoid that year's deduction. This exemption is unrelated to your tax filer status: you can be Zakat-exempt and still pay full withholding tax, or vice versa.

Withholding tax is separate and applies to everyone's profit, filer or not — being a filer only lowers the rate, it doesn't remove the deduction. For most individual account holders with annual profit under Rs. 5 million, this withholding is treated as a final tax, meaning it settles your obligation on that profit without it being added to your normal taxable income. This is a general summary of a nationwide tax rule that applies at every bank in Pakistan, not something specific to BankIslami's own policy — confirm your own filer status and any recent Finance Act changes with FBR or a tax advisor before assuming a specific rate applies to you.

Zakat and Ushr Ordinance, 1980 (Zakat Collection and Refund Rules, 1981) for the CZ-50 exemption process; FBR's Withholding Income Tax Rate Card (Section 151, Division-IA of Part-III of the First Schedule) for the 20%/40% profit-on-debt rate. Verify against FBR's current-year rate card before relying on this for a filing decision.

Frequently Asked Questions

Good For

• Understanding why BankIslami doesn't quote a fixed interest rate
• Picking the right account type for salaried, business, freelance, or youth banking
• Comparing the Gen Z Account's free features against other banks' youth accounts
• Starting the online account-opening process instead of visiting a branch
• Knowing when Zakat and withholding tax get deducted from your profit, and how to reduce each

More on BankIslami

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For independent verification, see State Bank of Pakistan, Pakistan Stock Exchange, SECP, FBR.