Abu Dhabi Islamic Bank Short Term Investment Account

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The ADIB Short Term Investment Account offers a healthy profit and easy access to the funds on a daily basis. Additionally, it promises better returns over a regular savings account. The profit is calculated on the daily closing balance and credited into the account at the month’s end. However, in order to earn profit, an account holder needs to maintain a minimum daily balance of AED 10,000. 

Abu Dhabi Islamic Bank also provides foreign currency remittance services in USD and GBP without any monthly maintenance charges. Moreover, the facility of standing instructions makes it easier to maintain regular transactions and periodic billings. 

Features and Benefits of ADIB Short Term Investment Account 

Abu Dhabi Islamic Bank offers various benefits on the Short Term Investment Account like monthly profit payment, standing instructions, etc. Given below are some key features of the ADIB Short Term Investment Account:

  • Higher Profit Rates - Abu Dhabi Islamic Bank promises a higher profit rate as compared to the other normal savings bank account. The account fetches a profit of 0.4% for a deposit between AED 10,000 to 500,000 and 0.42% for amounts above AED 2,000,000.
  • Initial Deposit - It requires a nominal deposit of AED 10,000 to open an ADIB Short Term Investment Account. 
  • Minimum Daily Balance - An individual needs to maintain a minimum daily balance of AED 10,000 in order to earn profit.
  • Daily Profit Calculation - The profits are calculated every day on the daily closing balance and get credited into the account at the end of every month.
  • Standing Instructions Facility - Abu Dhabi Islamic Bank offers the facility of standing instructions, which makes it ideal for utility bills and other payments.
  • Account Statements - The account holders also get bank statements via post every quarter, furnishing all the transaction details.  

Profit Rates on ADIB Short Term Investment Account

Abu Dhabi Islamic Bank calculates the profit on a daily basis, and it is credited into the bank account at the end of every month. Following are the latest profits rates on the Short Term Investment Account. 

Particulars 10 K - 500 K 501 K - 2000 K 2001 K - 5000 K Greater than 5001 K 
AED & USD 0.40% 0.41% 0.42% 0.42%
EUR 0.40% 0.41% 0.42% 0.43%
GBP 0.40% 0.41% 0.42% 0.43%
CAD 0.40% 0.41% 0.42% 0.43%
JPY 0.40% 0.41% 0.42% 0.43%

Eligibility Criteria to Open ADIB Short Term Investment Account 

An individual needs to fulfil some eligibility criteria to open a Short Term Investment Account as mentioned below.

  • Initial Deposits and Minimum Balance - An individual will have to invest a minimum of AED 10,000 for opening the account. Moreover, a minimum daily balance of AED 10,000 is required to earn profits. 
  • Nationality - UAE citizens and expatriates with a valid visa are eligible to open an ADIB Short Term Investment Account.

Documents Required to Apply for ADIB Short Term Investment Account

Following are the documents required to open a Short Term Investment Account.

  • Original Passport - A valid passport is required to open a bank account. For joint accounts, all the account holders need to be present with their original passport.
  •  Emirates ID - A valid Emirates ID is required for UAE nationals and residents.

How to Open an ADIB Short Term Investment Account? 

To open a Short Term Investment Account, an individual can visit ADIB’s official website or the nearest branch or make a phone call to get in touch with the banking personnel to open the account. Following are the ways to apply for this account. 

  • Filling the Application Form Online - An individual can log in to the official portal and fill in the application form. Later, the ADIB bank representative will get in touch with the individual for the subsequent account opening process. 
  • Filling the Application Form Offline - An individual can visit a nearby branch of Abu Dhabi Islamic Bank with all the required documents and fill the application form as per the instructions given by the banking personnel.
  • Through Phone Call - An individual can also apply for ADIB Short Term Investment Account by making a phone call. The bank representative will help him/her with the subsequent account opening process.
Apply by Phone within UAE Phone no. 600503033
Apply by Phone outside UAE Phone no. +97126100600

Frequently Asked Questions

Q1: What is the minimum initial deposit required to open an ADIB Short Term Investment Account?

Ans: An individual needs to deposit a minimum of AED 10,000 to open a Short Term Investment Account in Abu Dhabi Islamic Bank. 

Q2: What is the average daily balance required to earn profit in an ADIB Short Term Investment Account?

Ans: The average daily balance required to earn profit on the invested funds is AED 10,000 or more.

Q3: What are the profit rates applicable on ADIB Short Term Investment Account?

Ans: The profit rates in a Short Term Investment Account depends vastly on the principal amount. For a deposit of AED 10 k to 500 k, the profit rate is 0.4%, while for amounts above AED 2000 k, the profit rate is 0.42%. 

Q4: Can I open a joint account for ADIB Short Term Investment?

Ans: Yes, you can apply for a joint account in ADIB Short Term Investment. However, ID proof (preferably passport) of each account holder is required at the time of  account opening. 

Q5: Is there any annual or monthly account maintenance charge in ADIB Short Term Investment Account?

Ans: No, Abu Dhabi Islamic Bank does not levy any account maintenance charges on the Short Term Investment Account.