Benefits
- It is a Sharia Compliant Savings Account
- Exclusive savings account for children
- Specially designed debit card in the name of the “Minor”
- No minimum account balance required
- A minimum of AED 500 initial deposit required to open this account
- Denominated in AED currency only
- Minimum balance of AED 5,000 required to earn profits
Fees & Charges
- Account Closure (Within one year)= AED 100
- Non-Ajman Bank ATM Transactions in UAE- Cash Withdrawal = AED 2
- Non-Ajman Bank Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1
- Fee for using the ATM outside UAE and GCC = As per host country or AED 20 (whichever is higher)
Interest Rates
- Interest Rate = 0.13% per annum
- Can change as per bank norms
Documents Required
- Dully filled and signed account opening application form
- Original Passport and Emirates ID for UAE nationals and expatriates
- Original Visa page for expatriates
- Identification documents to be provided for both Guardian and Minor
Eligibility
- Can be opened only for Minors (below 18 years old)
- A minimum initial deposit of only AED 500 required to open the account
Addition Information
- Profit bearing account, on the basis of “Mudaraba”
- No charge on debit card
- Standing Instruction to pay automatically for recurring expenses
- Option to get monthly e-statement of account
- Update on bank account through free SMS alerts
- 24×7 toll-free number