Islamic Bank Accounts in Kaduna

A profit-sharing savings account run on the Mudarabah (partnership) contract. The depositor is the capital provider (rabb-ul-mal) and the bank is the fund manager (mudarib) that invests pooled balances in Shariah-compliant, socially responsible ventures. Gross profit is distributed monthly based on the customer's average balance and a pre-agreed profit-sharing ratio. Comes with instant Verve or Mastercard debit card, internet, mobile and USSD banking, cheque and dividend warrant lodgment up to N2 million face value, and a free monthly e-statement. Suited to individuals who want their savings to earn a halal return while staying accessible.

Jaiz Bank issues naira debit cards (Verve, with Mastercard also available) linked to active current or savings accounts. The Jaiz Verve Card carries a three-year validity, EMV chip and PIN security, two-factor authentication for online payments and contactless capability. Published transaction limits are N150,000 per day at local ATMs, N2,500,000 at local POS terminals and N2,000,000 for local web transactions. It works nationwide across ATMs, POS and online merchants and can pay for select global subscriptions including Microsoft, Netflix, Google Play, Spotify, Starlink, Prime and Uber. A separate Visa Dollar Card is offered for the domiciliary account. Cards are requested at a branch and activated at any branch or Jaiz ATM.

A foreign-currency account operated in US Dollars, Pounds Sterling or Euros for customers with international transactions. It is funded through cash deposits, inflows and wire transfers, allows international transfers and payments, and gives access to funds abroad via a Visa Dollar Card. Jaiz states zero cash withdrawal and account maintenance charges, no limit on the number of monthly withdrawals, and foreign-currency withdrawals processed at designated branches. The account shows as view-only under the Special Account section of the mobile app. Aimed at importers, exporters, families receiving remittances and anyone needing to hold or move hard currency.

Jaiz Bank's fixed-tenure investment deposit, marketed as the Jaiz Term Deposit (JTD) and Jaiz Premium Savings Account (JAPSA). It takes a lump sum of at least N500,000 for a chosen tenure between 30 and 360 days under the Mudarabah contract: the depositor is the investor, the bank is the fund manager, and gross profit is distributed monthly on a pre-agreed profit-sharing ratio. Higher profit rates are offered for longer tenures, and an investment certificate is issued for each placement. Aimed at customers with idle cash who want a defined-horizon halal return rather than an instant-access account.

A children's savings account opened in trust for a minor by a parent or guardian, who remains the primary operator until the child reaches adulthood. Like the adult savings product it runs on the Mudarabah partnership contract, so the child's balance earns a monthly profit-shared return rather than interest. Features include monthly profit payment, an instant Verve debit card, cheque and dividend warrant lodgment up to N2 million face value, internet, mobile and USSD banking and a free monthly e-statement. Jaiz positions it as a way to build savings habits and financial responsibility early.

Jaiz Bank's everyday transaction account, taken on the principle of Qard (a demand loan from the depositor to the bank). The customer authorises the bank to use the funds in its operations while the bank guarantees the full principal on demand, so the account pays no profit. It comes with a personal cheque book, instant Verve or Mastercard debit card issuance, internet, mobile and USSD banking, cheque and dividend warrant lodgment, and a free monthly e-statement. Aimed at salary earners, traders and businesses that need day-to-day payments rather than returns. Opened online at account.jaizbankplc.com or at any of the bank's 51 branches.

Lotus's signature salary account targets individuals in paid employment who domicile their pay with the bank. It carries zero opening balance, zero maintenance charge, zero minimum balance, USSD banking and the standard first 3 free other-bank ATM withdrawals. The real draw is what salary domiciliation unlocks: access to Lotus's payday finance products, plus a purchase limit on the ATM card for household items from select stores under Murabaha and Ijara service arrangements. Lotus partners directly with employers to onboard staff. No profit is shared on the account.

Lotus runs a full business deposit suite: SME current (Qard) and SME savings (Mudarabah) accounts, corporate current (Qard) and corporate call (Mudarabah) accounts, plus a Cluster account for religious bodies, cooperatives, schools, associations and clubs. All carry zero opening balance, zero maintenance charge and zero minimum balance, with free cheque book on request and one month free banking. The SME signature tier targets businesses with average monthly turnover around NGN 10,000,000 and adds free POS terminals (terms apply), a dedicated USSD collection string, working capital finance access and salary accounts with free debit cards for employees.

Lotus's premium tier pairs a Qard-based Premium Current account with a Premium Savings account whose deposits are accepted under the Al-Wadiah safe-custody principle. Both carry zero opening balance, zero maintenance charge and zero minimum balance, which is unusual for a premium banking tier anywhere. The perks are lifestyle-led: a free Black Card for the first year, free airport lounge access, special discounts on local private jet charter, access to a personal shopper, and a dedicated team of financial advisors with a named account officer.

Lotus Bank's everyday current account is built as a Qard deposit: the bank guarantees your money and charges nothing to hold it. There is zero account opening balance, zero account maintenance charge and zero minimum balance, with unlimited withdrawals and deposits. You get a free cheque book on request, USSD banking on *5045#, and the first 3 withdrawals each cycle on other banks' ATMs free. Opening the account also unlocks access to Lotus's financing shelf, from payday finance to LOTUS Rides and Homes.

Lotus offers foreign-currency domiciliary accounts in both current and savings variants, letting individuals hold and move US dollars, pounds and euros without touching interest-based products. Both variants carry zero account opening balance, unlimited deposits, unlimited withdrawals subject to daily regulatory limits, and one month of free banking apart from regulatory charges. Through Lotus online banking you can transfer foreign currency from your domiciliary account to anyone in the world. No profit is shared on either variant per the product page.

LOTUS Savers is the bank's headline retail savings account, offered under a Mudaraba profit-sharing structure. It carries zero account opening balance, zero maintenance charge and zero minimum balance, with unlimited deposits and withdrawals subject to daily regulatory limits. Savers get USSD banking, first 3 other-bank ATM withdrawals free, one month of free banking apart from regulatory charges, and access to Lotus's financing products. Lotus does not publish current profit rates or the depositor-bank sharing ratio online.

A foreign-currency account letting customers hold and save in US Dollars, Euros and Pounds to reduce exchange risk on international transactions. It opens with zero balance, charges zero account maintenance fees, and includes a Verve debit card, internet and mobile banking and email or SMS alerts. Benefits listed include personalised service and unlimited withdrawals at the home branch. Requirements are two passport photographs, valid ID, a current utility bill or tenancy agreement, BVN, two suitable references and a completed opening form. TAJBank secured Letter of Credit Dealership and Foreign Exchange licences noted in its 2024 accounts. Aimed at importers, exporters and remittance recipients.

TAJBank's children's savings account, opened in a child's name and operated by a parent or guardian. It requires a N2,000 minimum opening balance, pays a monthly profit and accepts cheque or dividend warrant lodgments up to N2 million. Documentation includes the opening form, the guardian's valid ID, proof of address within three months, the child's birth certificate, a passport photograph each for guardian and child, and the guardian's BVN. As a profit-bearing account it earns a monthly return, distinguishing it from the Qard savings account. Aimed at parents building savings and financial habits for a child.

TAJBank's basic savings account, offered in three Qard tiers aligned to CBN know-your-customer levels. Qard Tier 1 caps single deposits at N50,000 and daily cumulative balance at N300,000; Tier 2 raises those to N100,000 and N500,000; Tier 3 has zero opening balance, full documentation and accepts cheque deposits up to N2 million (references required above N2 million). All tiers include 24/7 access via TAJ Mobile and USSD, online banking and a debit card. As a Qard account the balance is a safekeeping deposit that pays no profit; customers wanting a return use the Partnership savings or Mudharabah time deposit instead. Suited to everyday savers and the newly banked.

A retail service for investing in sukuk, the asset-backed certificates that represent undivided ownership in a portfolio of assets, services or a business venture, issued by governments and corporates. Through TAJBank customers can invest from a minimum of N10,000 (depending on the issue), receive periodic returns at a pre-determined rate and the par value at maturity, and trade the certificates before maturity on a best-effort basis. There is no upfront service charge, subscription fee or redemption fee; the service carries zero maintenance fees, a Verve card and digital access. TAJBank is Nigeria's sukuk pioneer, the first corporate to list a sukuk on the NGX, so this sits at the heart of its identity.

An agency-investment service for clients who want periodic, relatively stable returns. Under the Wakalah (agency) arrangement TAJBank acts as investment agent, deploying the customer's funds ethically into a specific business venture agreed with the customer, and indicates an expected profit rate for the agreed period. The bank charges a fee or commission (Ujrah) for its agency services. The account opens with zero balance, carries zero maintenance fees and includes a Verve debit card and digital access. Benefits listed include portfolio diversification. Aimed at customers seeking a managed, halal investment with an indicative return rather than a demand deposit.

TAJBank's transaction account for individuals and salary earners, taken on Qard, a benevolent deposit that attracts no return. The Payroll Current Account opens with zero balance and includes internet banking, a debit card, email and SMS alerts and access to facilities, requiring an account opening form, a passport photograph, an employer introduction letter on company letterhead and a staff identity card. The broader current account is also offered to businesses. As a Qard account it pays no profit; it is a payments hub rather than a savings vehicle, aimed at employees receiving salary and anyone needing riba-free day-to-day banking.

Vibe is TAJBank's account for young people, built for low-friction everyday banking. It carries zero minimum operating balance and includes a debit card plus access to mobile and internet banking. The published feature set is deliberately light, aimed at students and young adults taking their first steps into formal, digital-first banking. As a zero-balance transaction account it functions on a Qard basis and does not advertise a profit-sharing return; young savers wanting a return would use the Partnership savings or, at N2,000 entry, could compare the children's product. Positioned as an entry point into the TAJ ecosystem for the youth segment.

TAJBank's profit-bearing savings account. The customer authorises the bank to invest their deposits, which are allocated to a Musharaka deposit pool and invested in an ethical, responsible manner; accrued profits are shared every 30 days between depositors and the bank on a pre-agreed ratio. Unlike the Qard savings account, this one earns a return, while still allowing deposits and withdrawals at will. Note the bank labels this product inconsistently, the page title and breadcrumb reference both Mudarabah and Partnership (Musharaka), so the exact contract naming should be confirmed with the bank. Aimed at savers who want a halal return on accessible balances.

A fixed-tenure investment deposit run on the Mudharabah trustee profit-sharing contract. The customer entrusts a minimum of N500,000 to the bank to use in its financing and investment activities without interference, for a term of 1 to 12 months that can only be withdrawn on written notice. Profit is credited on the basis of a weightage the bank assigns, paid periodically (monthly, quarterly or yearly) on a pre-agreed sharing ratio. It carries zero account maintenance fees, a Verve debit card and full digital access. Aimed at customers with idle cash who want a defined-horizon halal return instead of an interest fixed deposit.

AltSave is The Alternative Bank's flagship digital savings account, opened and run from the AltBank app. The bank's pitch is blunt: your cash stays 'untouched by hidden charges', there is zero minimum balance, and service runs round the clock. It sits inside a bank whose deposits are deployed only into non-interest, asset-backed transactions, and account holders get access to the wider Alt ecosystem including asset finance, AltRent rental finance and goal-based products like AltPilgrimages. AltBank also runs youth banking variants for secondary and tertiary students under the same digital umbrella.

AltCheck is AltBank's everyday current account, marketed as 'a lifeline' with interest-free access to emergency funds. There are no withdrawal charges and no commission on turnover (CoT), and the account pairs with a debit card the bank pitches for 'limitless spending', including an international-grade card proposition branded The Club. As a current account at a full non-interest bank, balances are guaranteed and never deployed into interest-based lending, and holding the account unlocks AltBank's financing shelf, from AltRent to asset finance and Hajj savings plans.

AltCurrency lets you 'own an account in your currency of choice', giving AltBank customers foreign-currency domiciliary banking inside a non-interest institution. The pitch is speed and ease of money movement plus stress-free payments and 'limitless spending' with the attached debit card. For diaspora Nigerians the account slots into AltBank's broader diaspora suite, which includes Diaspora Home Finance with bank-selected property managers. As with all AltBank deposits, foreign currency balances are guaranteed and kept away from interest-based deployment.

AltPilgrimages is a goal-based savings and services package for Hajj and Umrah. You pick your target pilgrimage year and AltBank builds a weekly or monthly savings plan to reach it, wrapped with 'comprehensive packages and services' intended to remove the logistics burden from the journey so pilgrims can focus on worship. It is one of very few structured Hajj savings products offered by a licensed Nigerian bank, alongside AltTrust, the bank's education trust product which adds Takaful cover for death and permanent disability.