Muslimcreed – Are you looking for the best bank to store your money while keeping it halal and your financial dealings in order? You’re in luck! There are plenty of banks that offer Islamic banking services, but you can’t just pick one at random and expect it to suit your needs perfectly. To help you find the best choice for you, we’ve rounded up some of the most popular options out there so you can compare them more easily. Let’s get started!
What is the University Bank of Islam?
The University Bank of Islam is a bank specifically designed to meet the needs of Muslim students. They offer a variety of banking services, including but not limited to: checking and savings accounts, loans, and investments.
Their Islamic banking services conform with Sharia law so that it’s easy for Muslims to keep their money halal while they earn interest on it. And just in case you need some help with your finances, they also have advisors available who specialize in Islamic finance.
They even offer services to those who are not currently students, including investments, checking and savings accounts, as well as credit cards. If you need help keeping your finances halal, or you just need somewhere to keep your money safe from scams and schemes, the University Bank of Islam is here for you. Head over to their website and fill out an application today!
Why is it the best choice for Muslim students?
Students often have a lot on their plate. Between classes, work, and social activities, they don’t always have time to handle banking the old-fashioned way. Thankfully, there’s University Bank of Islam. As a student-focused bank, they understand the value in providing convenient banking solutions that can be done remotely while still adhering to Islamic principles and practices. They’re even endorsed by the Islamic Society of North America (ISNA) as one of their partners in promoting financial literacy among Muslims in North America.
Their online banking services are among their most popular, giving students a convenient way to check balances and make payments. Deposits can be made online, as well as through mobile apps available on all major platforms. They even offer business accounts that can be managed from anywhere with an internet connection. All of these features help students manage their finances in a way that works around their busy schedules.
In addition to online banking, the University Bank of Islam offers numerous mobile apps that help streamline many other tasks. They have mobile credit card payment solutions that let students pay for goods and services using their smartphones. They also offer a mobile remote deposit capture solution that lets users take photos of checks and submit them as deposits using their phones.
What services does the University Bank of Islam offer?
The University Bank of Islam offers the following services for students:
• Residential mortgages
• Credit cards
• Checking accounts
• Individual Retirement Accounts (IRAs)
• Savings accounts and certificates of deposit (CDs)
• Checking accounts with overdraft protection.
We offer savings accounts with a wide range of plan options to meet your short-term and long-term savings goals. They include :
1. Regular Savings Plan
2. Roth IRA
3. Coverdell Education Savings Account (ESA)
4. Uniform Gifts to Minors Act (UGMA)
5. Uniform Transfers to Minors Act (UTMA). For example, a Coverdell ESA is an education savings account that allows you to save money for college expenses, while UTMA is an account that lets you hold assets such as stocks, bonds or mutual funds in trust until they reach 18 years old.]]
How to open an account with the University Bank of Islam?
1. Registering an account is quick and easy. All you need is your name, email address and phone number to start the registration process. You will also have to provide a valid ID with a photo, such as a driver’s license or passport.
2. After submitting your registration form, you will receive an activation link on your email which you can follow in order to activate your account.
3. After submitting your registration form and activating your account, you will receive an email from [email protected] to fill out an online application.
4. After filling out your application, a representative will contact you to help you create your account and confirm that everything is in order.
5. Next, you will receive an SMS confirmation on your phone. Once you have confirmed that you wish to open a new bank account with the University Bank of Islam, it’s time to choose what kind of account suits you best!