| Minimum Balance Required | Monthly Return | Features | |
|---|---|---|---|
Emirates Islamic - Emarati Family Savings Account
|
Minimum Balance Required: AED 0 | Monthly Return: 0.75% | Features: Islamic Banking, Discounts / Vouchers / Offers |
Key Benefits
Higher expected Profit rates - Higher expected profit rates based on the account balances of all family members
Individual Savings Account - Separate individual savings account for every account holder
Account Privacy - 100% complete account privacy for every account holder
Fee Discounts and Vouchers - 50% discount on Processing fee* on Finances and vouchers of up to AED 700* on Cards
Features
- Shariah compliant Wakala based profit bearing Account.
- Higher profit rate paid on a pooled balance of all family members.
- Add up to 10 immediate family members into the family pool.
- Full privacy on each individual Emarati Family Saving Account.
- Each customer will have their own mobile/ internet banking access, debit card, statement of account (where applicable).
- No Minimum monthly balance or salary requirement for any family member.
- No cheque book will offered on this account.
Terms & Conditions apply. Click here
Additional Benefits
Finance Product
50% processing fee discount on Auto, Home and Personal Finance*
Personal Finance / Auto Finance - 50% of the processing fee for Personal Finance /Auto Finance.
Home Finance - 50% of the processing fee, Maximum of AED 2500
Credit Card
Vouchers up to AED 700 & 15,000 EI SmartMiles*
Infinite & Signature Cards - Noon vouchers worth AED 700
Platinum Cards - Noon vouchers worth AED 300
Emarati Cards - 15,000 bonus EI Smartmiles
Terms & Conditions apply. Click here
Eligibility
- Emarati Family Saving Account can be opened by an individual UAE National customer only.*
- Minimum member required 2 and maximum of 10 members, to enjoy the pooled earning.
- Primary member age must be minimum 21-year-old.
- No age condition for the secondary’s members
- A first-degree relationship is required to be categorized as
- Immediate family members are classified as Spouse, Siblings, Children and Parents.
Non-UAE National cannot be a primary member.
Non-UAE National can avail the Emarati family Saving Account (as secondary member)
Accepted documents to confirm immediate family relationship:
- Khulasat-al-Qaid
- Marriage certificate
- EIDA of each member
- Passport of each member
Profit Calculation
Profit will be paid monthly based on the average balances held in the
Emarati Family Savings Accounts of all family members.
Profit is distributed on calendar Monthly basis.
| Pooled balance slab - In AED | Expected Profit rates (p.a) | Payout Profit |
| Less than AED 499K | 0.25% | Monthly |
| AED 500K – AED 999K | 0.50% | Monthly |
| Greater than 1 million | 0.75% | Monthly |
Terms and conditions apply. Profit rates are subject to change.
Account Opening
How to open your account?
If you are existing customer, or new to bank, please visit any nearest branch to assist.Primary customer must be present with the secondary member for linking the
