Islamic Savings Account

Limited time offer

For UAE Nationals

• Open an Islamic Savings Account with best-in-market anticipated profit rate of up to 4.5% per year paid monthly on fresh funds for AED currency only
• Every AED 25,000 monthly average balance in Islamic Savings Account gets a chance to enter the Emirati Al Awwal draw with a mega prize worth AED 1 million
• Get up to 5,000 AED* cashback in rewards upon salary transfer

For Expats

• Open an Islamic Savings Account with best in market anticipated profit rate of up to 4.5% per year paid monthly on fresh funds for AED currency only
• Get up to 2,500 AED* cashback in rewards upon salary transfer

Features*

• Islamic Savings Accounts are offered based on the Shariah principle of Mudarabah
• Minimum required balance is AED 3000. Profit distribution will only be paid for accounts with a minimum average balance of AED 3,000 (or its equivalent in the relevant currency) every month
• This account is available in AED and other major currencies

Eligibility

• UAE Nationals, GCC Nationals and resident and non-resident expatriates are eligible
• Salaried, self-employed and non-salaried customers are eligible

Required documents

• The completed account opening form
• A copy of a valid passport/residence visa/Emirates ID (originals must also be presented)
• A salary certificate addressed to FAB (issued within the last 30 days) or other proof of income for a non-salaried applicant

Note: Additional documents may be required on a case-by-case basis.

Debit card benefits

• Get a free Islamic Mastercard debit card with a host of great features**
• Cash withdrawals from all ATMs displaying the UAE/GCC Switch logos throughout the GCC and at any ATM worldwide displaying the Mastercard/Cirrus logos
• Access to exclusive benefits and preferential treatment, allowing Mastercard Platinum Islamic Debit Card holders to move seamlessly across the world to experience the best it has to offer**
• Get airport lounge access across the region (no prior booking required, simply show your Mastercard Platinum Islamic Debit Card at reception)**

Debit card daily limits

• ATM cash withdrawal limit – AED 20,000
• Retail purchase transaction limit – AED 40,000

• The above are the actual profit distribution rates and are indicative of rates for the current month. Profit distribution rates in future months, if any, may vary
• Currently available for an AED currency account only, a special anticipated profit rate of up to 4.5% per year for fresh funds
• The anticipated profit is distributed on a monthly basis
• To view the historical profit rate distribution for previous years, click here

*General Terms & Conditions and Islamic Investment & Savings Account Schedule apply.
*Terms and conditions - Islamic Savings Account for UAE Nationals .
**These features are provided by Mastercard. Please visit the Mastercard website for details.
Features and eligibility are subject to change from time to time at the Bank’s sole discretion.