Ajman Bank #YOUNG Account

Ajman Bank Account

Ajman Bank

Min. Salary

AED

Min. Balance

0

Interest Rate

0.13%

Non Maintenance Fee

0

Features

Free Debit Card

Internet Banking

Islamic Banking

Mobile Banking

Sharia Compliant

Zero Balance Account

Ajman Bank #YOUNG Account is a Sharia Compliant savings account. 24x7 toll-free number, Profit bearing account, debit card with no charges. This savings account is for children below 18 years.

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