Emirates Islamic e-Savings Account – Digital Account

• It is a Sharia Compliant savings account
• Wakala based profit bearing account
• Up to 0.80% p.a. expected profit rate for AED Currency and 0.60% p.a. for USD Currency
• For new customers, 1% p.a expected profit rate for three months on AED and 0.90% on USD
• Profits paid out on a quarterly basis
• No minimum balance requirement
• Available in AED and USD
• Self-opening account through Online Banking
• Unlimited online transfers and bill payments

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

• For deposit slab 5K to 50K, 0.40% p.a.
• For deposit slab 50K to 3.5 Million, 0.60% p.a.
• For deposit slab 3.5 Million up to 25 Million, 0.80% p.a.
• For deposit slabs higher than 25 Million, 0.80% p.a.
• The interest rate paid on the basis of the prevalent Savings Account rate of that particular month

For UAE Nationals:

• A copy of the passport
• Emirates identity card
• Resident visa
• Salary certificate of the applicant

For residents of UAE:

• Copy of visa
• Emirates identity card
• Copy of the passport
• Salary certificate issued by the employer

• The customer requires to have Bank NET ID for e-Savings Account.
• Existing Customers with Bank NET ID can simply log in and open the accounts.
• New customers can open an Account with EIB and obtain Bank NET ID to open an e-Savings Account.
• For individuals only
• For UAE nationals and residents of UAE

• No limits to transactions made on the account. The transactions done will impact the calculation of profits
• SMS alert service for your account transactions, if enrolled for it
• The account can be accessed through Online Banking