Islamic Savings Account: Shariah Compliant Savings

Saadiq Savings Account

Shariah approved

Approved by an independent Shariah Supervisory Committee, so you can bank worry-free while complying with Islamic Banking principles. Learn more about the committee.

Internationally recognised debit card

Accepted all over the world, enjoy 24/7 access to you funds for ATM withdrawals, online shopping or at merchant outlets. * Terms and conditions apply
Profits are credited twice every year.

The Saadiq Savings Account works on the concept of Mudaraba*. Standard Chartered places your funds in our pool of Shariah-compliant assets, and the profits are shared between you and the bank, which are credited to your account on a half-yearly basis.

* Profit rates are calculated and declared on a monthly basis in retrospect.

Saadiq profit rates & weightages

Earn attractive profits

The profits are calculated on the average monthly balance maintained in your account, which means the more you save, the higher profits you can earn.
Details
Full range of services

Convenient access to your funds 24/7, set up standing instructions, Deposit cash at our Cash Deposit Machines & much more.
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Higher Withdrawal Limits

Access your funds easily with higher daily withdrawal limits from our extensive network of ATMs or from a UAE Switch ATM.

Local Bill Payments

Access all major utility providers such as DEWA, Etisalat & Du via Online Banking for easy payments of your bills.

Alerts

Receive an SMS alert whenever a transaction is performed on your bank account.

eStatements

Help save the planet with our secured eStatements.

Banking online or on the go

Manage your money easily with our award-winning online and mobile banking platform. SC Mobile is available on the iPhone, iPad and Android mobile devices.

Pay Any Credit Card

Pay other bank credit card bills free of charge via Online Banking or Mobile Banking.

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 10,000
Minimum average balance	AED 3,000
Monthly service charge	Nil
Fall-below fee	AED 26.25

Eligibility

UAE Nationals, Resident & Non Resident individuals
Age requirement: Minimum 18 years old

• Minimum Documentation Requirements:

For Residents: Passport, Emirates ID & Resident Visa
For Non Residents: Passport, Bank Statements & Address proof

The Saadiq Savings Account is based on the principle of Mudaraba. In line with the rules of Islamic Shariah, the customer bears any losses incurred by the Mudaraba, in the ratio of its share. Profit rates are calculated and declared on a monthly basis in retrospect.
These products are governed by the Standard Chartered Saadiq Terms & Conditions, which are available here
The Saadiq Savings Account is subject to minimum relationship balance requirement and fall-below fees.

Saadiq Savings Account

Shariah approved

Internationally recognised debit card

Earn attractive profits

Full range of services

+More

Features