How to open an account at Dubai Islamic Bank

By Abdul Raffay ⏐ 6 years ago ⏐

5 min read

Dubai Islamic Bank Pakistan is a completely owned subsidiary of Dubai Islamic Bank UAE, it was incorporated as a public unlisted company on May 27 2005, and officially commenced its operations as a commercial bank on March 28, 2006. The bank currently has a total of 200 branches across Pakistan.

DIB offers an array of services to its customers, one of which is internet Banking, Internet Banking facility provides a hassle-free solution to managing account funds and other affairs without having to wait in queues.

Some of the internet banking facilities provided by DIB are mentioned below:

View your account balance
View and download account statements
Order ATM / Visa Debit Cards
Book Fixed Deposits
Transfer funds to your own account and other accounts at DIB.
Make Foreign Currency Transfers
Make Pay Orders and Demand Drafts
Order Check Books
View account activity through Internet Banking

Let’s look at 4 different types of account you can open at DIB:

Current account
Savings account
Junior account
Asaan account

Current Account:

There are 2 types of people who can apply for a current account at DIB:

Salaried individual (Age limit: 18 to 70 years old)
Business owner (Age limit: 18 to 70 years old)

Salaried individual:

To apply for a current account at DIB, you need to collect the following documents:

CNIC
Proof of employment (through an employment verification letter)
Copy of your utility bills

Business owner:

Collect and submit the following documents to the bank if you want to open a current account at DIB:

CNIC
Proof of business

After you’ve submitted these documents, you’d also need to pay a minimum fee of 1000 PKR for account opening while no minimum balance is required for account maintenance.

Features of Current Account:

Open your account in PKR and other major foreign currencies.
Free internet banking
No worries on maintaining a minimum monthly balance.
Unlimited withdrawals and deposits every month.
An Islamic current account.

Savings Account:

There are 2 types of people who can apply for a savings account at DIB:

Salaried individual (Age limit: 18 to 70 years old)
Business owner (Age limit: 18 to 70 years old)

Salaried individual:

To apply for a savings account at DIB, you need to collect the following documents:

CNIC
Proof of employment (through an employment verification letter)
Copy of your utility bills

Business owner:

Collect and submit the following documents to the bank if you want to open a savings account at DIB:

CNIC
Proof of business

After submitting these documents you’d also need to pay a minimum fee of 1000 PKR for account opening while no minimum balance is required for account maintenance (except for foreign currency saving account for which a minimum daily balance of 500 PKR monthly is required).

Profits rates for the month of July varied from 2.25% to 3%.

Features of Savings Account:

Profit calculated on Monthly average balance.
Profit payment on a monthly basis.
Unlimited number of deposits and
Avail Silver or Gold ATM/VISA Debit Card (applicable for Pak Rupees account only).
Free account statement on a half-year basis.
Free internet banking.
Free access to Dubai Islamic Phone Banking offering 24/7 telebanking services.
Free online banking allows account access at all Dubai Islamic branches across Pakistan.

Junior Account:

DIB also provides interest-free banking facilities to kids under the age of 18, this will help kids to hone their saving habits and will allow also provide them with an array of services.

You can open your Junior account with as little as 5 PKR with no requirements for maintaining a minimum balance.

Features of Junior Account:

Get Visa Debit Card with the consent of your guardian, allowing global acceptance at over 29 million merchants and 1.8 million ATMs worldwide.
Get a free colourful moneybox to help you start saving money along with other gifts.
Every six months, receive a free bank statement of your account, showing your savings and profits earned.
More savings means more profit

Asaan Account:

Open an Asaan Account if you’re not the type of person to get indulged in the formalities of providing documents for account opening. For an Asaan Account, the only document required is the individual’s CNIC.

Features of Asaan Account:

Can be opened under 2 variants i.e. Savings or Current Account.
The account can only be opened by Individuals (Singly or Jointly).
Offered in PKR only.
No minimum balance requirement
Maximum withdrawal (debit) allowed in a calendar month is limited to 500,000 PKR per month. Also, the maximum deposit (credit) balance shall not exceed Rs. 500,000.
For Asaan Savings Account, profit is calculated on monthly average balance and payment is on a monthly basis.

In all these are the 4 types of accounts you can open at DIB, so if you feel interested, visit your nearest DIB branch to apply.

Not convinced? Here is a complete list of all Pakistani banks where you can open your accounts: