Benefits
- This is a Sharia Compliant Wakala Deposit Account
- Available in 1, 2, 3, and 5 years tenures
- Deposit account available in AED
- Early withdrawal option available
- No profits are paid on early withdrawal during the first 6 months
- Deposits amount from a minimum of AED 25,000 up to AED 5 million
- Profit pay-out on an annual basis
Fees & Charges
- Not Applicable
Interest Rates
- For 1 year term, get 0.75% interest rate
- For 2 years term, get 0.80% interest rate
- For 3 years term, get 1% interest rate
- For 4 years term, get 1.40% interest rate
- For 5 years term, get 1.50% interest rate
Documents Required
- Need to have saving or current account with bank
Eligibility
- Available to individuals, joint accounts and can also be opened for minors
- Available for businesses including sole proprietorships, partnerships, Joint Stock and Limited Liability organizations
Addition Information
- If the deposit is withdrawn prior to the agreed maturity date, the prevalent savings rate at Emirates Islamic will be applied.