RAKBANK Islamic Jood Savings Account

• It is a sharia-compliant account where you can earn profits on your savings. 
• Mudaraba based savings account.
• Is available only in AED currency.
• Free EDM Cash and Cheque deposits.
• The account can be opened online.
• Get a free debit card with this savings account. 
• Earn profits on a quarterly basis.
• E-statements are available online.

• Account Closure (Within one year)= AED 100
• Non-RAKBANK ATM Transactions in UAE- Cash Withdrawal = AED 2
• Non- RAKBANK Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1
• Fee for using the ATM outside UAE and GCC = AED 20

Interest rate = 0.25% 

• Passport Copy
• Emirate ID
• Visa Copy

• A UAE National, UAE Resident, non-residents, and minors can open this account. 

• The savings account can be accessed using RAKDirect or mobile banking services. 
• The profit rate payable will be worked out by executing the Profit Distribution Module (PDM) on a quarterly basis and credited into the account.