| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
Emirates Islamic Investment Savings Account
|
Minimum Balance Required: AED 10,000 | Annual Return: 0.3% | Features: Phone Banking, Islamic Finance |
** Debit Cards are not issued on Foreign Currency accounts. Issued only to Individuals and Sole-Establishments.
Features
- Free internationally recognized debit card
- Available in AED and USD
- Profit payout on Quarterly basis
- Online banking to view, manage and conduct transactions at your convenience
- Phone banking giving you anytime, anywhere access to your accounts
- SMS account updates for charge card balances and other transactions
Eligibility
- Minimum balance requirements of AED 3,000
- Available to individuals, joint accounts and can also be opened for minors
- Available for businesses including sole proprietorships, partnerships as well as Joint Stock and Limited Liability organizations
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual profit 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 profit 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 profit rates and fee structures.
