| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
Noor Bank - Savings Account
|
Minimum Balance Required: AED 0 | Annual Return: 0% | Features: Islamic Finance, Free Cheque Book |
Flat Rate: 0.5% (AED)
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
- No Initial Deposit Required
- No Annual Fee
- This account can be opened in AED USD GBP and Euro
Required Documents:
- 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)
- Term Deposit- 12 months
-Islamic Finance
-Minimum Balance Requirement: 10,000
-This account can be opened in AED and USD
- Term Deposit- 1 month
-Islamic Finance
-Minimum balance requirement: 10,000
-This account can be opened in AED and USD
- Term Deposit- 6 months
-Islamic Finance
-Minimum balance requirement: 10,000
-This account can be opened in AED USD
- Term Deposit- 9 months
-Flat Rate: 2.70%
-Islamic Finance
-Minimum balance requirement: 10,000
-This account can be opened in AED USD
- Term Deposit- 3 months
-Flat Rate: 2.20%
-Islamic Finance
-Minimum balance requirement: 10,000
-This account can be opened in AED USD
- Wakala- 12 months
-Islamic Finance
-Minimum balance requirement: 250,000
-This account can be opened in AED USD
- Wakala – 1 month
-Flat Rate: 2.17%
-Islamic Finance
-Minimum balance requirement: 250,000
-This account can be opened in AED USD
- Wakala- 6 months
-Flat Rate: 2.94%
-Islamic Finance
-Minimum balance requirement: 250,000
-This account can be opened in AED USD
- Wakala- 9 months
-Flat Rate: 3.13%
-Islamic Finance
-Minimum balance requirement: 250,000
-This account can be opened in AED USD
- Wakala- 3 months
-Flat Rate: 3.32%
-Islamic Finance
-Minimum balance requirement: 250,000
-This account can be opened in AED USD
** 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.
