About Sharia Deposit

Now, saving for the future is easy. You can create Sharia Deposit and set a time (min. 1 month and max. 24 months) that you choose to prevent you from unnecessary spending.

What is Sharia Deposit?

Sharia Deposits are a product of time deposits or investment funds, basically the same as other deposits in banks. The fund provider or shohibul mal (in this case, you who want to save money) provides funds to the fund manager (mudharib), Jago Syariah.

After the funds are received, the fund manager will manage the funds until they make a profit. When the deposit period ends, the fund manager will distribute the profits to the fund provider according to the akad.

This deposit uses Mudharabah Muthlaqah akad, and you will be able to get the profit sharing, so you get more profits if you don't spend your money. Save money can be more barakah in this deposit. To learn more about profit sharing (nisbah) and its simulation of it, read more.

What is Mudharabah Muthlaqah Akad?

In sharia products, the agreement is in the form of an akad (contract). The akad is agreed upon at the beginning before you put money in a sharia deposit. This akad explains the management of funds and the profit sharing portion (nisbah).

When you open a Sharia Deposit, you agree to let the Jago Syariah manage your money and put it into any Sharia-compliant investments that Jago Syariah manages. You cannot determine what type of business Jago Syariah will choose to manage your money. After that, you will get a profit sharing. Learn more about Mudarabah akad here


How to open a Sharia Deposit

Let’s follow these steps below to open a Sharia Deposit

  1. On your Pockets tab, tap Create Pocket.
  2. Choose Sharia Deposit
  3. Input the amount of money you want to save and the period in Sharia Deposit
  4. Select a renewal mode for the Deposit, and tap Next
  5. Check the details again and tap Create Deposit.


Deposit Setting Mode

There are 3 types of deposit renewal setting modes:

a. Non auto-renewal

When your deposit matures, you can immediately enjoy all the money you have saved in the deposit.

b. Auto-Renewal with Initial Balance & Profit Sharing

Your deposit will be automatically renewed along with the initial balance and profit sharing earned from the previous period. The time period will be the same as when you first made the deposit. 

Tip: You can choose the renewal setting mode according to your saving plan.

When and how about the calculation of the profit sharing for me?

Currently, the nisbah profit sharing will depend on Jago Syariah's income. You can see the profit-sharing info here.
The profit sharing in your Sharia Deposit is accessible at the end of the chosen term.

What should I do if I want to withdraw my deposit before the due date?

You can withdraw your money in case of an emergency without a fee, but the profit sharing will be adjusted.

Require further assistance?

Contact Tanya Jago
Contact Ask Jago

Time to Always Manage Your Money
According to Sharia

Create up to 60 Jago Syariah Pockets (bank accounts) with Wadiah and Mudharabah akad to start saving, transacting, and managing expenses.

Open a Sharia Deposit in minutes directly from the app and get competitive profit sharing. Withdraw your Deposit early (if needed) without penalties.

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Grab your smartphone, click the button or scan the QR code below to download and register Jago Syariah from anywhere and anytime.

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