Benefits
- It is a sharia-compliant account. Mudaraba-based account.
- This account is available in AED.
- Can fast track to Emirates Skywards Gold tier membership.
- Earn Skywards Miles on your account balances over AED 500,000 and spends on RAKislamic Emirates Skywards World Elite Mastercard Credit Card
- The RAKislamic Emirates Skywards Savings Account is a Mudaraba-based account
- The customer must hold a RAKislamic Emirates Skywards World Elite Mastercard Credit Card to avail this account.
- Chance to win 1 million Skyward miles by spending AED 10,000 or more every month.
Fees & Charges
- Account Closure (Within one year)= AED 100
- Non-RAKBANK ATM Transactions in UAE- Cash Withdrawal = AED 2
- Non- RAKBANK Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1
- Fee for using the ATM outside UAE and GCC = AED 20
Interest Rates
- No Interest
Documents Required
- Only a RAKislamic Emirates Skywards World Elite Mastercard Credit cardholder can open this account.
Eligibility
- Only a RAKislamic Emirates Skywards World Elite Mastercard Credit cardholder can open this account.
- Individuals only can open this account.
Addition Information
- Fast track to Emirates Skywards Gold tier membership by opening a RAKislamic Emirates Skywards Savings Account with a minimum balance of AED 500,000 and spending AED 5,500 on Emirates flights using your RAKislamic Emirates Skywards World Elite Mastercard Credit Card.
- On account balances, bank will place a hold of AED 5,000 at all times. If the customer does not maintain average quarterly balances of AED 500,000 and if Gold Tier is held by the customer through this account, the bank will recover the benefit cost AED 1,250 every quarter.
- 3 Skywards Miles are awarded for every AED 200 of average quarterly balances over AED 500,000. Miles are accrued and allocated to Emirates Skywards Account every quarter.