Taj Bank is a non-interest and Islamic financial institution in Nigeria that provides banking services to individuals and corporate organizations.
On the 3rd July 2019, Taj Bank received a license from the Central Bank of Nigeria (CBN) to operate as a regional bank.
Requirements For Opening Taj Bank Savings Account
1. Duly filled account opening form
2. Government-issued ID card (driver’s license, international passport, national ID card and voter’s card)
3. Utility bill reflecting residential address (Electricity and Waste bill)
4. 2 passport photographs
Requirements For Opening Taj Bank Current Account
1. Duly filled account opening form
2. Government-issued ID card (driver’s license, international passport, national ID card and voter’s card)
3. Utility bill reflecting residential address (Electricity and Waste bill)
4. 2 passport photographs
5. 2 referees that operate Taj Bank current account
6. An initial deposit to be made into the account
Requirements For Opening Taj Bank Corporate Account
1. Duly filled account opening form
2. Certificate of Incorporation
3. Tax Identification Number (TIN)
4. SCUML Certificate or Letter of Exemption
5. Valid IDs of Directors
6. Passport photographs of each account signatory
7. Board resolution
8. An initial deposit to be made into the account
Types of Taj Bank Account
Taj Bank has several types of bank accounts and they are;
1. Mudarabah savings account
2. Mudarabah time deposit account
3. Murabahah asset finance
4. Emerald kiddies account
5. Vibe teens account
6. Corporate max account
7. iMax HNI account
8. Qard current account
9. Murabahah auto finance
10. Qard savings account
Mudarabah Savings Account:
Taj bank mudarabah saving account is a type of account that attracts returns.
For this type of account, the customer authorizes the bank to invest their deposited money ethically and responsibly.
Features of Taj Bank Mudarabah Savings Account include:
– Funds deposited are paid upon demand by the customer
– Profit accrued is shared as per the pre-agreed profit sharing ratio
– No account maintenance fee
– Access to 24/7 banking services via e-channel platforms
– Mobile banking
– Internet banking
– Personalized ATM card, POS and online transaction
Mudarabah Time Deposit account:
Features of Taj Bank Mudarabah Time Deposit Account include:
– Minimum of 30 days withdrawal after deposit
– Profit accrued is shared as per the pre-agreed profit sharing ratio.
The difference between mudarabah saving account and mudarabah time deposit account is that mudarabah time savings account allows the customer to state the duration of their investment.
This means the customer will be unable to withdraw his/her money before the set date, while customers can withdraw their savings anytime on mudarabah savings account.
Murabahah Asset Finance:
Murabahah asset finance is a type of account that enables Taj bank customers to acquire any asset of their choice on loan and pay later.
Features of Taj Bank Mudarabah Asset Finance Account include;
– Flexible loan tenor of up to 12 months
– The cost price of the asset bought and the bank mark up is not revealed to the customer
– Clear, fixed and non-fluctuating payment plan
– Available to anyone above 18 years old with a regular income
– The salary deduction is not more than 33% of the customer’s net monthly salary
Emerald Kiddies Account:
Emerald kiddies account is a type of account for kids from 0 to 12 years old.
Features of Taj Bank Emerald Kiddies Account include:
– No account maintenance fee
– Funds available on demand
– Access to debit card
– Profit to be paid to the kid’s account
– Parents or legal guardians are the only signatories to the account
Vibe Teens Account:
Taj Bank Vibe account is a savings account for kids between the ages of 13 to 18.
Features of Taj Bank Vibe Teens Account include:
– Parents or legal guardians are the only signatories to the account
– The child gets a debit card once he/she turns 18 years old
– No account maintenance fee
– Funds available on demand
– Profit is accrued on the money deposited
– Access to 24/7 banking services via e-channel platforms
Corporate Max Account:
Taj bank corporate max account is a type of account that best suits business or high-value organizations.
Features of Taj Bank Corporate Max Account include:
– No account maintenance fee
– Access to 24/7 banking services via e-channel platforms
– Access to corporate internet banking
– Exclusive access to business finance services
iMax HNI Account:
iMax HNI account is a type of account that suit high profile and net worth individuals.
Features of Taj Bank iMax HNI Account include:
– No account maintenance fee
– Access to 24/7 banking services via e-channel platforms
– Exclusive access to business finance service
Qard Current Account:
Taj bank qard current account is a flexible account for customers that want a current account type.
Features of Taj Bank Qard Current Account include;
– Funds are guaranteed by the bank
– Funds are paid on demand
– Unlimited withdrawal. i.e. no withdrawal limit
– Access to cheque book
– No account maintenance fee
– Access to 24/7 banking services via e-channel platform
– Personalized ATM card, POS and online transaction
Murabahah Auto Finance:
Murabahah auto finance enables Taj bank customers to acquire automobiles on loan and repay at a flexible payment plan.
Features of Taj Bank Murabahah Auto Finance Account include”
– Clear, fixed and non-fluctuating payment plan
– Flexible loan tenor offerings
– The cost price of the asset bought and the bank mark up is not revealed to the customer
– Available to anyone above 18 years old with a regular income
– The salary deduction is not more than 33% of the customer’s net monthly salary
Qard Savings Account:
Taj bank qard savings account is an account where customers make deposits and withdrawals at any time, without restrictions.
Features of Taj Bank Qard Savings Account include;
– Unlimited withdrawal access
– Free withdrawal slip at any branch office
– No account maintenance fee
– Access to 24/7 banking services via e-channel platform
– Personalized ATM card, POS and online transaction
Taj Bank Addresses
Presently, Taj bank has 1 head office and 2 branch offices and they are:
Head office address: Plot 72, Ahmadu Bello Way, Central Business District, Abuja, Nigeria.
Branch office addresses: Plot 110, Murtala Muhammed Way, Kano, Nigeria and 8, Kano Road, Sokoto, Nigeria.
Taj Bank Contact Information
Phone number: 0803 066 9901, 0908 793 7414, 0700 825 2265 and 0908 793 7418.
Email address: info@tajbank.com and tajconnect@tajbank.com.
Originally posted on May 7, 2021 @ 4:54 pm
Assalamu alaikum good day i want to open Mudarabah account that will help my business thank you