| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
ADCB Islamic Banking - Child Saver Account
|
Minimum Balance Required: AED 0 | Annual Return: 0% | Features: Islamic Banking |
- A guardian should open and run the account on behalf of the child.
- When the child is 15 or older, they will be issued their own debit card.
- Available in AED only.
Benefits
- It is a Sharia Compliant Savings Account
- Account can be opened by both Emiratis and expatriates
- Earn profit from your savings, paid quarterly
- Earn TouchPoints on your card spends
- Avail higher profit rates on savings
- Free e-Statements available
- Access to mobile banking and internet banking
- Available in AED only
- When the child is 15 or older, he/she will be issued the own debit card
** 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.
