Key Fact Statement (KFS) – Current and Savings Account

Click here to open the KFS pdf document for signature

This product is a bank account for your transaction and savings needs. This KFS provides you with key product features, indicative information about the product and applicable profit, fee, and charges.

Product Information
Current Account Based on Shariah concept of Qard Hasan, an interest free loan given by you to the Bank and is available for withdrawal at all times. This account will not earn any profit to you.	Savings Account (Mudaraba) A profit-sharing partnership contract between, you as a capital provider (Rab-ul-Mal), and the Bank as a fund manager (Mudareb), in a joint investment.	Savings Account (Wakala) An agreement where you authorise the Bank as your Wakil "agent", to invest your funds in Shariah approved activities for profit.
Shariah basis
Qard Hasan (Interest-free loan)	Mudaraba	Wakala
Applicable for
UAE residents	UAE residents and non-residents and minors	UAE residents and non-residents
Cheque book
Offered only on AED accounts	Not offered	Not offered
Account currency
AED, USD, GBP and other major currencies	AED and USD (as available on each Product)	AED and USD (as available on each Product)
Debit Card
Offered only on AED accounts	Offered only on AED accounts	Offered only on AED accounts (Not offered on e-Savings account)
Minimum average monthly balance
As per package specified - AED 3,000 for individuals	As per package specified - AED 3,000 for individuals	No minimum balance required
Profits eligibility
Not applicable	A minimum average monthly balance of AED 5,000 must be maintained to qualify for profit earnings.	A minimum average monthly balance of AED 5,000 must be maintained to qualify for profit earnings.

Expected Profit Rates
Current Account
Product	Expected Profit Rate per Annum	Basis of Profit Calculation	Profit Payout Frequency
Current Account	Not applicable	Not applicable	Not applicable
Savings Accounts (Mudaraba)
Investment Savings Account	0.35%	Minimum Monthly Balance	Actual realized profit on Investment Term Deposits and Savings Accounts will be paid latest by 28th of the month following each quarter or after the Emirates Islamic Asset Liabilities Committee (ALCO) meeting
Kunooz Millionaire Account	0.10% (stand a chance to win grand prizes and cash prizes)	Minimum Monthly Balance
ALPHA Youth Account	0.35%	Minimum Monthly Balance
Super Savings Skywards	0.10% (earn 2000 Bonus miles on opening the account and up to 60,000 Skyward miles per year)- subject to meeting the required criteria	Minimum Monthly Balance
Super Savings Etihad Guest	0.10% (earn 2000 Bonus miles on opening the account and up to 60,000 Etihad guest miles per year)- subject to meeting the required criteria	Minimum Monthly Balance
High Value Salary (for Priority Banking Customers)**	Up to 0.40%	Quarterly Average Balance
Value (for Advantage Banking Customers)**	Up to 0.40%	Quarterly Average Balance
Special Investment Savings	0.50% (if quarterly average balance is more than AED 2,000,000) else no profit eligible.	Quarterly Average Balance

**Expected profit rates are indicative and reflective of the previous rates declared.
**Expected profit rates published for previous quarters are not guaranteed.

Savings Accounts(Wakala)
Product	Expected Profit Rate per Annum	Basis of Profit Calculation	Profit Payout Frequency
e-Savings (Online only account)*	Enjoy 1.50% p.a. across all slabs for three months on AED and USD for new customers Up to 1.50% on AED accounts Up to 1.50% on USD accounts	Average Monthly Balance.	Actual realized profit will be paid on the 1st of the month following each quarter
Emarati Family Savings Account	Up to 0.75%	Average Monthly Balance. Actual realized profit will be paid monthly based on the average balances held in the Emirati Family Savings Accounts of all family members	Actual realized profit will be paid at the end of each month

Profit rates (where applicable) are subject to change. Please refer to the website for the declared profit rates.

Fees & Charges Product Packages for Individuals customers
	Personal Banking Select	Personal Banking Advantage	Priority Banking	Private Banking
Package Eligibility
Minimum monthly average relationship balance	AED 3,000	AED 100,000	AED 500,000	By Invitation
Minimum monthly salary transfer	AED 5,000	AED 15,000	AED 50,000	By Invitation
Fee & Charges (inclusive of VAT)
Fee for non-maintenance of balance	AED 26.25 p.m. (Minor accounts, customers transferring their salary, holding an active finance or on meeting the Salary transfer package criteria are not charged the fee for non-maintenance of required balance)			NIL
Account opening fee	FREE
Account closure (within 6 months)	AED105
Cheque book charge**	First cheque book free; thereafter AED 26.25 per cheque book			Free

**As per the mandate from Central Bank of the UAE, cheque books issued during the first 6 months of opening the account could be limited to 10 leaves depending on the Individual's rating with the credit bureau (AECB). Any non-executed payment instructions, including return cheques, will be reflected in the AECB report which will negatively affect the customer credit rating. Additionally, account may not be opened if there is a negative rating with the credit bureau (AECB).

Note: Above outlines some of the important charges pertaining to accounts and the Special Features accounts. View the Accounts Terms and Conditions for further details. Please refer to the Schedule of Charges for the complete list.

Key Fact Statement (KFS) – Current and Savings Account

You are currently browsing

Personal Banking

Priority Banking

Private Banking

Business Banking

Corporate & Institutional Banking

Securities

Other segments

Download our app

Google Play

App Store

AppGallery