Saadiq XtraSaver – A Shariah Compliant Way to Save
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MONTH 1
|
MONTH 2
|
MONTH 3
|
MONTH 4
|
MONTH 5
|
MONTH 6
|
|
---|---|---|---|---|---|---|
Monthly Avg. Deposit Balance (AED) | 100,000 | 150,000 | 185,000 | 275,000 | 380,000 | 382,000 |
Profit Rate (p.a.) | 0.25 | 0.25 | 0.50 | 1.00 | 2.00 | 2.00 |
Monthly Profit (AED) | 20.83 | 31.25 | 75.00 | 229.17 | 633.33 | 636.67 |
Total Avg. Balance (AED) | 100,021 | 150,031 | 180,000 | 275,229 | 380,633 | 382,637 |
Only 3 debit transactions are allowed per month. Should there be more than 3 debit transactions in a month, the Hiba earned will be 0% for that month and only Mudarabah profit will be paid. |
Profit is accrued based on your average balance and paid monthly1 with no minimum balance Requirement2
Fees and charges are subject to change. All fees and charges listed are inclusive of 5% Value Added Tax (VAT), where applicable.
Service
|
Charges
|
---|---|
Minimum initial deposit | AED 3,000 (or equivalent in foreign currency) |
Minimum average monthly balance | AED 0 |
Monthly service charge | Nil |
Fall-below fee | Nil |
UAE Nationals, Residents, and Non-Resident individuals
Minimum 18 years old
Passport, Emirates ID, and Resident Visa
Passport, Bank Statements, and Address proof
AED Rates on Average Balance* | PROFIT RATE (P.A.) AED MUDARABAH/ HIBA Month 1 | PROFIT RATE (P.A.) AED MUDARABAH/ HIBA Month 2 | PROFIT RATE (P.A.) AED MUDARABAH/ HIBA Month 3 |
0 to 180,000 | 0.25% | 0.25% | 0.50% |
180,001 to 365,000 | 0.25% | 0.25% | 1.00% |
365,001 and above | 0.25% | 0.25% | 2.00% |
USD Rates on Average Balance* | USD RATE (P.A.) MONTH 1 | USD RATE (P.A.) MONTH 2 | USD RATE (P.A.) MONTH 3 |
0 to 50,000 | 0.25% | 0.25% | 0.50% |
50,001 to 99,999 | 0.25% | 0.25% | 1.00% |
100,000 and above | 0.25% | 0.25% | 1.50% |