Al Baraka Bank South Africa offers a streamlined and accessible payment system to manage installment payments for its Shariah-compliant financing solutions, which are structured on Islamic profit-sharing principles rather than traditional interest-based loans. Clients can repay installments quickly and conveniently via the Al Baraka mobile banking app or online banking platform, allowing them to set up one-time or recurring payments, add recipients, and manage a personalized payment schedule. Additionally, clients may visit any Al Baraka branch for in-person assistance, ensuring a range of options for managing their financial commitments with ease and flexibility.
Pay Online from Your Bank Account
Visit the Al Baraka Bank website and select "Internet Banking" from the top navigation.
Log in to your Al Baraka online banking account using your Profile ID and password.
Navigate to the "Payments" section on the dashboard.
Select "Add Beneficiary" if the installment payee isn’t already listed, and enter the details, such as the finance account number provided by the bank.
Choose the account from which you want to make the payment, enter the amount, and set the payment date.
For recurring payments, enable the recurring option to automate future installments.
Review your payment details carefully, ensuring all information is accurate.
Submit the payment and save or print the confirmation.
Pay Through the App
Open the Al Baraka South Africa Banking App and log in using FaceID, TouchID, or your secure password.
Navigate to the "Payments" section within the app.
Add a new beneficiary by selecting "Add Recipient" and entering details such as the installment account number.
Once the recipient is added, select them from the list of payees.
Choose the account from which you wish to make the payment, enter the installment amount, and specify whether it’s a one-time or recurring payment.
Confirm the payment details and, upon successful processing, you will receive a confirmation notification.
Optionally, save or send a receipt for record-keeping.
Pay from Another Bank
Log in to the online banking platform of your primary bank.
Add Al Baraka Bank as a recipient in your bank’s payment section, entering the necessary details, including the finance account number and payment reference.
Enter the amount you want to pay and verify the external account by following your bank’s verification process, which may involve confirming small test deposits.
Schedule the payment and verify the recipient and payment amount details.
Submit the payment and save or print the confirmation for your records.
At the ATM
Locate a participating ATM through the Al Baraka mobile app or website.
Insert your card and choose the payment type by selecting the “Bill Payment” or equivalent option, if available.
Enter the installment amount as instructed.
Confirm the payment, wait for the transaction to process, and collect the receipt.
Can I make early installment payments to reduce my financing term with Al Baraka Bank?
Yes, Al Baraka Bank allows early payments for clients who wish to reduce their overall financing term. It’s recommended to contact customer service to confirm any specific terms or processes involved in making advance payments toward your financing plan.
Are there any fees for setting up recurring payments through Al Baraka’s online banking or mobile app?
No, setting up recurring payments through the Al Baraka Bank mobile app or online banking platform is free of additional charges, providing a cost-effective way to manage your monthly installments automatically.
Can I pay my installment directly from a non-Al Baraka account, and are there any additional steps?
Yes, you can pay directly from a non-Al Baraka account by adding Al Baraka as a recipient in your other bank’s online banking platform. Make sure to verify your account details and follow any additional security verification steps that may be required by your bank.
Is it possible to receive a payment reminder for upcoming installment dates?
Yes, you can enable notifications on the Al Baraka Banking App to receive reminders for upcoming payments. These notifications help clients stay on track with their repayment schedules without missing due dates.
How can I get a detailed statement of all past installment payments?
You can access a detailed statement of your installment payments through the Al Baraka online banking platform or mobile app. Simply navigate to the “Statements” section, where you can view, download, or filter your transaction history for specific payment periods.
