| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
Al Awwal Bank- Investment Account
|
Minimum Deposit Required: SAR 100,000 | Annual Return: 0% | Annual Fee: SAR 0 | Choice of Terms: - | Features: Multiple Currencies, Deposit Multiple Currencies |
The Investment Account is a Shari’ah compliant investment that provides you with attractive returns in the short to medium term, and is a perfect alternative to conventional Time Deposits.
Features & Benefits:
- Shari’ah compliant alternative to Time Deposits
- Competitive returns on short to medium term investments
- Minimum investment amount is SAR 100,000
- Investment is also available in US Dollar, Sterling Pound, and Euro (equivalent to SAR 100,000)
- Flexible investment periods of 1, 2, 3, 6, 12 and 36 months
** 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.
