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UBL Ameen is pleased to introduce islamic Freelancer Account with minimum documentation for freelancers to facilitate this segment in getting their earning into formal bank account. This account not only facilitates in receiving their payments/salaries wi
Simple account opening documentation.
Free general banking services.
Simple and easy tax facilitation.
Discount on Co-Working Space.
Free Takaful Coverage for freelancers.
Discount on Auto Financing.
Preferential Fx Rates.
Availability of ESFCA.
Choice to open Islamic banking freelancer account in current and/or saving category (PKR only).
UBL Ameen Freelancer Current accounts are based on the concept of “Qard”. However, UBL Ameen Freelancer Saving accounts are based on Shariah Compliant mode of “Mudarabah”, where the depositor is “Rab-ul-Maal” and Bank acts as “Mudarib”.
Exclusively for all individuals working as freelancers only.
The account can be opened with minimum deposit of PKR 100. For Digital account opening no initial deposit is required.
The profit on Ameen Freelancer Saving Account is paid on monthly basis.
The bank also gives the opportunity to the freelancer account holders to subsequently open Ameen ESFCA (Exporter’s Special Foreign Currency Account), a Foreign currency account, whereby USD 5,000 (or equivalent FCY) per month or 50% of the freelancing remittance income, whichever is higher will be retained in foreign currency, The remaining amount shall be credited to customer’s UBL Ameen Freelancer PKR account.
Foreign currency cash withdrawal is not allowed within Pakistan The funds cannot be transferred to any FCY/ FE 25 accounts.
Customer can be on boarded through branch/Tablet (Islamic Banking Branches or Islamic Banking Windows) and digitally through UBL website/App. Branches will ask atleast following documents from customer for opening freelancer account.
The accountholder is eligible to get online tax facilitation and advisory services from Befiler (Pvt) Ltd on discounted rates for “Registration with FBR/SRB” and “Filing of Annual Income Tax Return” and “Monthly Sales Tax Return”.
Befiler will charge Consultancy Fee for the service provided.
| Service | Description | Fee (PKR) |
|---|---|---|
| One-time fee for Registration with FBR and SRB | For Everyone | PKR 3,000/- |
| Monthly Sales Tax Filing (Per Return) | Freelancers with only foreign source income | PKR 1,000/- |
| Monthly Sales Tax Filing (Per Return) | Freelancers with local income | PKR 1,500/- |
| Annual Income Tax Return (Per Return) | Freelancers with only foreign source income - turnover not exceeding 5 million | PKR 2,000/- |
| Annual Income Tax Return (Per Return) | Freelancers with local income / turnover exceeding Rs. 5 million | PKR 3,000/- |
Customer will pay consultancy fee directly to the Befiler. The fee will be deposited in Befiler’s Bank account with UBL.
The bank has collaborated with Co-working space providers, “Kick Start Co working” and “The Hive” , which provides hassle-free and cost-effective workspace solutions. The freelancer accountholder is eligible to get discounts on Co-working space and serviced Offices in Karachi, Lahore & Islamabad.
UBL Ameen Freelancer Accountholders can avail 10% discount on shared services only such as follows.
Accountholder maintaining PKR 250,000 & above monthly average balance in previous month will be rewarded with discount on rental in subsequent month subject to regular monthly instalment deduction, which will be reimbursed to customer accordingly. The discount rate is subject to change as per the market condition.
Ameen Freelancer Account secures basic freelancing gadgets like Mobile & Laptop with theft risk and covers loss of Wallet and accidental hospitalization of accountholder on maintaining monthly average balance of Rs. 250,000 and above in freelancer account. The free takaful coverage is provided by UBL Insurers Limited-Window Takaful Operator. No contribution is required to be paid by accountholder. The coverages and takaful limits are as follows.
Befiler will charge Consultancy Fee for the service provided.
| Type | Amount |
|---|---|
| Mobile Theft Takaful Coverage in case of lost or damaged by fire accident, violent theft, armed holdup robbery and earthquake, anywhere in Pakistan. | PKR 50,000/- |
| Laptop Theft Takaful Coverage in case of lost or damaged by fire accident, violent theft, armed holdup robbery and earthquake, anywhere in Pakistan. | PKR 100,000/- |
| Wallet Takaful Coverage loss of documents i.e. CNIC, Driving Licenses, Passport etc. across Pakistan. The amount will be paid at actual cost of reproduction. | PKR 5,000/- |
| Accidental Hospital Takaful Coverage in case of hospitalization due to accident | PKR 150,000/- |
UBL Insurers Limited – Window Takaful Operations.
Strike, Riots and Civil Commotion or Terrorism, Fraud, Dishonesty of Employees whether Permanent or Contractual.
The Bank shall not be liable for any action or lack therefore on the part of the third party. The customer hereby indemnifies and holds harmless the Bank against any loss, liability or damage arising from utilization of services of a third party whether if the same were referred to the customer by the Bank or not. The customer shall at all times exercise his good judgement and conduct their own due diligence prior to utilization any services recommended by the Bank or offered by a third party on behalf of the Bank.
All service charges will be levied as per prevailing UBL Ameen Schedule of Charges. Zakat & WHT will be applicable as per Government rules. Contact your nearest UBL Ameen Islamic Banking branch or Islamic Window in designated branches today for further details or call now: 111-825-888 (UAN).