|Minimum Balance Required||Annual Return||Features|
|Noor Bank - Rewards Account||Minimum Balance Required: AED 0||Annual Return: 0%||Features: Islamic Finance|
Offering Rewards Points on Minimum Average balance maintenance, Online Transactions and acquiring new products.
- Interest Rate: Profit is applicable as reward points only.
- Islamic Finance
- No Annual Fee
- Cheque Book
- Initial Deposit is not required
- No Annual Fee
- This account can be opened in AED and USD
Minimum Balance Requirement:
3 Packages are available:
- Link Plus - Minimum monthly average relationship balance of AED 50,000
- Link premium - Minimum monthly average relationship balance of AED 350,000
- Link Infinite - Minimum monthly average relationship balance of AED 1,000,000
Reward Points can be redeemed for the following Rewards:
- Paying/offsetting any fee from accounts and services that are listed on the Noor Trade price guide.
- Towards the payment of business partners’ services that our selected vendors are providing. Account Holder/s may choose to redeem the rewards to discount their fee at our listed business partners services.
- Any other redemption option as defined by the Bank from time to time.
- Duly filled Account Opening Form(s)
- Original Trade License/Approval Letter (Trade License/
- Approval Letter) issued by FZA
- Notarized copy of the Memorandum and Articles of Association.
- Passport/Visa/EID obtained for owners/partners/Shareholders/trustees.
- FATCA, CRS, SDF (Sanction Declaration Form)
** 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.