| Minimum Salary | Currencies | Features | |
|---|---|---|---|
Alinma Bank - Family Account
|
Minimum Salary: SAR 6,000 | Currencies: GBP, USD, EUR | Features: Islamic Finance, Sharia Compliant, Multiple Currencies, No Salary Transfer |
Your family means everything to you, and their financial needs are always on your mind. We are, therefore, pleased to introduce the Alinma Family Account, a new banking option that allows you to open separate sub-accounts (savings & current) for your spouse or children. It is linked to your main account, but managed by you, giving you the flexibility to control and monitor your family’s financial activities.
There is no need to visit a branch, and no administrative fees are applied. Simply register online using Alinma Internet. The Family Account gives you full financial control, helps your family save, and educates them about financial responsibility.
Features:- No fees
- No branch visits
- Ability to open sub-accounts (savings and current) for family members via Alinma Internet without the need to visit a branch
- Ability to issue Alinma mada cards for each family member and to set separate withdrawal and purchase limits
- Ability to grant and manage online access to accounts for each family member through Alinma Internet
- Monthly account e-statements (optional)
- SMS alerts for account transactions
- Ability to easily set transfer and payment limits for each family member
- Ability to conveniently monitor accounts using account nicknames of your choice
- A way to encourage children to save for the future through Kids Savings and to educate them on the proper use of banking services.
- The service is available for Saudi & non-Saudi partners
- All immediate family members are eligible (husband, wife, and children)
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
