Sole Proprietor Accounts

The IslamicFinance Sole Proprietor Account caters to the needs of this unique form of business and allows Sole Proprietors with contractual capacity to conduct their business with ease, while conforming to the laws of Shari'ah.

Essentials

What are the features and benefits of the Sole Proprietor Account?

General

  • No overdraft
  • No credit or debit interest
  • IslamicFinance Visa Electron Business Card
  • Petrol Card on application only (transactions debited to IslamicFinance Cheque account)
  • Cheque book available
  • IslamicFinance Branded A4 statement
  • Earn part of profit share, calculated on average balance on the IslamicFinance Sole Proprietor Account for the period of calculation.
  • Minimum balance of R750 required

An IslamicFinance Sole Proprietor Account allows for:

  • Debit Orders
  • 3rd party payments
  • Bank cheques

ATM Facilities

  • Balance Enquiries
  • Inter-account transfers on linked accounts
  • Deposits at designated ATMs

Criteria

Who qualifies for an IslamicFinance Sole Proprietor Account?

  • SA citizens or permanent residents of RSA
  • A natural person, not a CC or PTY
  • A Sole Proprietor with an ITC Credit Record that is acceptable to branch management
  • A Sole Proprietor with contractual capacity

Value Adds

Value adds of the IslamicFinance Sole Proprietor Account

  • eBucks
  • InContact
  • Telephone, Cellphone and Online Banking

Fees

What are the costs associated with the IslamicFinance Sole Proprietor Account?

Please refer to our Pricing Guide for more information

Enquiries

More information on the IslamicFinance Sole Proprietor Cheque Account

Please contact your nearest FNB branch or phone our IslamicFinance contact centre on 0861 786 788. for more information about our IslamicFinance products.