NBQ Alwan Children’s Saving Scheme NBQ Min. Deposit 500 AED Interest Rate 0% Choice of Terms 18 years Features Internet Banking Islamic Banking Mobile Banking No Salary Transfer Premature withdrawals Sharia Compliant NBQ Alwan Children’s Saving Scheme is a Sharia Compliant savings plan. Children’s saving scheme, minimum monthly contribution of AED 200. Invest in scheme until child’s 18th birthday. Apply Now Benefits This is a Sharia Compliant Investment Deposit Account This children saving scheme Continue to invest into this scheme until your 18th birthday A minimum balance of AED 500 is required to open an Alwan account Minimum regular monthly contribution of AED 200 No maximum limit on the amount you can deposit No charge up to 5 withdrawals of up to AED 10,000 each every year Fees & Charges NIL Interest Rates Earn interest on NBQ Alwan Children’s Saving Scheme Documents Required Copy of the child’s passport, Emirates ID and residency visa for expats Copy of the Family Registration Book for UAE Nationals Copy of father or guardian’s passport, Emirates ID and residency visa for expats To obtain an Indemnity Letter from the Parent or Guardian Two recent passport-sized photos of the applicant (child) Eligibility For UAE Nationals & Expatriates Children of both UAE Nationals and expatriates with a valid residency visa Start investing from a minimum deposit of AED 200 monthly Minimum balance of AED 500 is required Addition Information Easy to convert to a standard savings account or fixed deposit account once child is 18 years Earn interest on investing in Children’s Saving Scheme Apply Now
