Benefits
- It is a Sharia Compliant Savings Account
- This savings account is for children
- Get Darhoom Prepaid Debit Card.
- The minimum amount of AED 5,000 required to be eligible to earn profit
- Minimum of AED 1000 to open a Banoon Children’s Savings Account
- Profit distribution is made on a quarterly basis
- Mobile App to access your account
Fees & Charges
- Account Closure (Within one year)= AED 100
- Non- ADIB ATM Transactions in UAE- Cash Withdrawal = AED 2
- Non- ADIB Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1
- Fee for using the ATM outside UAE and GCC = As per host country system
Interest Rates
- For Tier >250K, 0.62% per month
- For Tier 25K – 250K, 0.33% per month
- For Tier 10K – 25K, 0.32% per month
- For Tier 5K – 10K, 0.31% per month
- The interest rate may vary for the upcoming months, in accordance with the ADIB’s Banking Services Agreement
Documents Required
- Passport/ID of Parent
- Passport/ID of child
- Valid Visa for expatriates
- Valid Emirates ID of Parent & Child
- 1000 AED as opening balance
Eligibility
- For UAE nationals and residents
- Account can be opened by the guardian for his/her minor child
Addition Information
- Live chat facility to get answers related to your account or any other banking service
- Apply for account via online, by phone or visit your nearest branch
- Secure access to your account and funds through internet banking, phone or SMS banking