ADIB Banoon Children's Savings Account

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ADIB is one of the leading Islamic banks in the UAE. The bank offers various useful banking products such as bank accounts, credit cards, loans, guarantee programs, business protection programs, mortgages and much more for both individual and business customers.

ADIB Banoon Children’s Savings Account is one of the bank accounts that ADIB offers. The bank account is specifically designed for child account holders to help them understand the importance of savings. Keep reading to know detailed features and benefits of the bank account, followed by the eligibility criteria, interest rates and the process to apply for the same.

Features and Benefits of ADIB Banoon Children’s Savings Account

Here are the major features and benefits of opening an ADIB Banoon Children’s Savings Account.

1. Interest Rates

ADIB Banoon Children’s Savings Account offers an attractive interest rate of up to 0.61 per cent for the account holders. The bank distributes this profit on a quarterly basis.

2. Account Opening Balance

ADIB Banoon Children’s Savings Account comes with a minimum account opening balance requirement of AED 1,000.

3. Minimum Account Balance

ADIB Banoon Children’s Savings Account comes with no minimum monthly balance requirement for the account holders. However, they need to maintain an average monthly balance of AED 5,000 to earn profits on their savings.

4. Available in Multiple Currencies

ADIB Banoon Children’s Savings Account can be opened and operated in multiple currencies including AED, GBP, USD, EUR, etc.

5. Standing Instructions

ADIB Banoon Children’s Savings Account enables account holders to activate standing instructions and transfer funds in just a few clicks.

6. Sharia-Compliant

ADIB Banoon Children’s Savings Account is a Sharia-Compliant bank account and follows Islamic laws and principles.

7. Monthly Fee

ADIB Banoon Children’s Savings Account comes with no monthly fee requirements for the account holders. 

8. First Free Chequebook

ADIB Banoon Children’s Savings Account offers a first free chequebook for the account holders. They need to pay a fee of AED 25 if they need another chequebook.

9. ADIB Visa Electron Debit Card

ADIB Banoon Children’s Savings Account offers a free ADIB Visa Electron Debit Card for the account holders to help them make easy withdrawals from the ATMs. The debit card can also be used to shop at various retail outlets in the UAE.

10. Unlimited Teller Transactions

ADIB Banoon Children’s Savings Account allows account holders to make unlimited teller transactions at more than 80 branches across different cities in the UAE.

11. ADIB Mobile Banking App

ADIB Banoon Children’s Savings Account can easily be accessed by using a mobile banking app. The ADIB Mobile Banking App is available on different app stores, including Google Play Store and Apple App Store. The account holders can simply download this app and log in to enjoy various ADIB banking products and services. 

12. Overdraft Facility

ADIB Banoon Children’s Savings Account offers an instant overdraft facility for the account holders to support them financially in case they need funds.

13. Full-time Banking Services

ADIB Banoon Children’s Savings Account offers round-the-clock available banking services. The account holders can access their account details anytime using online banking, mobile banking, telephone banking and SMS banking services.

14. Account Statements

With ADIB Banoon Children’s Savings Account, the account holders get monthly statements sent to their postal addresses. In addition, they can get these statements delivered to their email id. With these account statements, the account holders can keep close track of their finances and avoid making unnecessary transactions.

15. ADIB WebSecure

ADIB Banoon Children’s Savings Account offers secure web services to enables account holders to shop online safely.

Reasons to Choose ADIB Banoon Children’s Savings Account

Here is the list of reasons why you must choose to open an ADIB Banoon Children’s Savings Account.

1. Easy account Opening Process

ADIB Banoon Children’s Savings Account comes with a simple account opening process for the applicants. The applicants can apply for a bank account both online and offline with great ease.

2. Live Chat Facility

ADIB Banoon Children’s Savings Account offers a live chat facility for the account holders to help them find answers to their queries as and when required.

3. Attractive Interest Rates

ADIB Banoon Children’s Savings Account offers attractive interest rates to help account holders increase their savings in a short period.

4. Secure Access to Funds

ADIB Banoon Children’s Savings Account comes with an advanced security system to help account holders keep their funds safe.

5. Child-Friendly Account

ADIB Banoon Children’s Savings Account is a child-friendly account. It has been designed while keeping into consideration the basic financial requirements of child account holders.

Interest Rates Offered on ADIB Banoon Children’s Savings Account 

Here are the attractive interest rates offered on ADIB Banoon Children’s Savings Account for the account holders.

1. Interest Rates in AED

Account Balance Interest Rates
5000 to 10,000 0.31 per cent
10,000 to 25,000 0.32 per cent
25,000 to 250,000 0.33 per cent
250,000 and above 0.61 per cent

2. Interest Rates in GBP

Account Balance Interest Rates
5000 to 10,000 0.31 per cent
10,000 to 25,000 0.32 per cent
25,000 to 250,000 0.33 per cent
250,000 and above 0.61 per cent

3. Interest Rates in EUR

Account Balance Interest Rates
5000 to 10,000 0.31 per cent
10,000 to 25,000 0.32 per cent
25,000 to 250,000 0.33 per cent
250,000 and above 0.61 per cent

Note: Please visit the bank’s website to check the updated interest rates in accordance with the ADIB’s Banking Services Agreement.

Joining Offers on ADIB Banoon Children’s Savings Account

ADIB Banoon Children’s Savings Account is one of the best bank accounts for children. The bank account comes with a special cartoon character called ‘Darhoom’ for child account holders to help them understand the best use of their bank account. The character explains to the child account holders how they can save more and increase their funds in no time.

ADIB Banoon Children’s Savings Account also offers Darhoom Prepaid Debit Card for free as a welcome gift for the child account holders. With this debit card, the account holders can withdraw their funds and shop at hundreds of retail stores in the UAE without any hassle.

Eligibility Criteria for ADIB Banoon Children’s Savings Account

Here are the eligibility criteria for opening an ADIB Banoon Children’s Savings Account.

  • All UAE nationals and residents are eligible for opening an ADIB Banoon Children’s Savings Account.
  • The bank account can be opened by the guardian of the applicant (minor child).
  • A minimum opening balance of AED 1000 is required.

Documents Required to Open an ADIB Banoon Children’s Savings Account

Here are the documents required for opening an ADIB Banoon Children’s Savings Account.

  • Passport/ID of Parent – Original and a copy
  • Passport/ID of the child applicant – Original and a copy
  • Visa for expatriates – Original and a copy
  • Emirates ID of Parent (for UAE Nationals & Residents) – Original and a copy
  • Emirates ID of Child (for UAE Nationals & Residents) – Original and a copy

How to Apply for ADIB Banoon Children’s Savings Account?

Here are the four simple ways through which you can apply for an ADIB Banoon Children’s Savings Account.

1. Apply Online

You can login to ADIB online banking portal using your unique banking credentials and apply for opening an ADIB Banoon Children’s Savings Account. You need to fill up the online application form and submit it with all the necessary documents to complete the application.

2. Use a Mobile App

You can also download ADIB mobile banking app on your smartphone and log in using your registered ID and password. In the app, you need to fill up the application form for opening a bank account and then upload the essential documents with the form to submit the request. 

3. Visit a Branch

ADIB has multiple branches in the UAE. If you do not have access to the internet, you can also visit the bank’s branch to apply for opening an ADIB Banoon Children’s Savings Account. You need to carry all the necessary documents with you and submit the same with the application form at the branch.

4. Contact Us

You can visit our website and go to the bank accounts section to apply for your desired ADIB bank account. In case you need help, you can call our helpline number and our experts will guide you through the process.

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