Al Hilal Bank Saving Account

Bank Accounts in the UAE

Al Hilal Bank, a renowned financial institution, has established itself as a trusted and innovative player in the banking industry. With a strong commitment to Shariah-compliant banking, Al Hilal Bank offers a wide range of services designed to meet the diverse needs of its customers.

One of the standout offerings from Al Hilal Bank is its Savings Account. This account provides individuals with a secure and convenient way to save their hard-earned money while earning competitive profits in accordance with Islamic principles. With attractive profit rates, flexible withdrawal options, and a user-friendly digital platform, the Al Hilal Bank Savings Account ensures a seamless banking experience for its customers.

Features and Benefits of Al Hilal Savings Account

Listed below are the features and benefits of the Al Hilal Bank Savings Account in the UAE -

  • This is a Shariah-compliant savings account in the UAE that also offers the chance to win major prizes every month. 
  • Open a savings account in UAE with a minimum amount of AED 5,000.
  • Get a chance to win AED 1,000,000 per month or 20 monthly prizes worth AED 1,000. For this, you need to meet the following criteria -
    • Maintain a minimum balance of AED 5,000 or transfer salary to Al Hilal Savings Account
    • For every extra AED 5,000 on your balance, you get an additional draw entry, which increases your chances of maximising savings and increasing the possibility to win. 
    • To earn a chance to become a millionaire, you can also transfer your salary to your Al Hilal savings or current account and earn an extra draw entry. The minimum monthly salary for this is AED 5,000. 
  • The profit earned on the balance maintained is distributed monthly. However, to earn a profit, you would be required to maintain a minimum average balance. Here is the minimum monthly balance to be maintained by the account holders of different age groups -
    • Below 13 years - AED 300
    • 13 years to 21 years - AED 1,000
    • 21 years and above - AED 5,000
  • This is a zero-balance account.
  • Complimentary customised MasterCard Debit Card
  • Access to the internet, mobile, and SMS banking facilities for free
  • Complimentary e-statements
  • No charges for domestic and international transfers
  • Option to switch between accounts using a single debit card
  • Seamless onboarding via UAE PASS
  • Withdraw cash from ADCB ATMs for free 
  • Instant account opening and virtual debit card
  • No fall-below charges applied
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Al Hilal Debit Card

Eligibility Criteria to Apply for Al Hilal Bank Savings Account in the UAE

Listed below are the key eligibility criteria to apply for the Al Hilal Bank Savings Account -

  • Minimum Age Requirement - 18 years and more to open the account on your own; to open an account for a minor, the biological parents need to be the guardian
  • Nationality - UAE and GCC Nationals and UAE residents with valid Emirates ID

Documents Required to Apply for Al Hilal Bank Savings Account 

Have a look at the list below for the documents required to apply for this savings account in the UAE -

  • Valid Emirates ID
  • A Valid UAE residence visa and passport

How to Apply for Al Hilal Bank Savings Account?

Here are the ways to apply for an Al Hilal Bank Savings Account -

Via Policybazaar.ae

You can experience the convenience of opening an Al Hilal Bank Savings Account through Policybazaar.ae. As a trusted third-party aggregator (TPA) portal, we empower you to compare and select the best bank accounts from leading institutions in the country. Our user-friendly online platform ensures a seamless process.

To apply for an Al Hilal Savings Account, simply visit our homepage and click on the ‘Bank Accounts’ tab or select it from the ‘Banking Products’ tab in the menu bar. You will be guided to a lead form where you can provide accurate information. Also, ensure that you have selected a Savings Account as the account type. Once completed, click on the ‘View Quotes’ tab.

You can then discover the exceptional features and benefits of the Al Hilal Bank Savings Account on our Al Hilal bank account quotes page. When you are ready, just click the ‘Apply Now’ tab and follow the straightforward instructions to complete your application. This way, you can enjoy a hassle-free journey towards financial growth with Al Hilal Bank  and Policybazaar.ae.

Via Contact Centre

To open an Al Hilal Bank Savings Account, you can contact the bank from anywhere at its 24/7 number - 600 522 229. Once connected, a bank executive will guide you through the process thereon. 

Open Al Hilal Bank Account

Charges and Fees Levied on Al Hilal Bank Savings Account

The following table specifies the charges applied to the Al Hilal Bank savings account -

Charges Amount
Minimum Balance Required Per Month N/A
Monthly Fall-Below Fee Free
Minimum Account Balance Required to be Eligible for Profit AED 5,000
Daily Cash Withdrawal Cap (ATM/CCDM) AED 10,000
Daily POS Transaction Limit AED 25,000
Debit Card Issuance Charges Free
Requesting Replacement Debit Card AED 26.25
Fee for Issuing a Copy of Sales Slip AED 26.25
International Transaction in Foreign Currency 2.001%
Charges for Using Switch and ATM of a Non-Al Hilal Bank within the UAE AED 2.10
Charges for Using Switch and ATM of a Non-Al Hilal Bank in the GCC Region AED 6.3
Charges for Using Switch and ATM of a Non-Al Hilal Bank outside the GCC Region AED 15.75
Charges for Making Balance Enquiry at a Non-Al Hilal Bank ATM or Switch AED 1.05
ATM Transaction Charges at a Non-Al Hilal Bank ATM AED 31.5
Cheque Book Issuance Charges N/A
Consolidated e-Statements Monthly Free
Paper Statement Charges AED 26.25 per cycle
Fee for One-time Standing Instruction Setup AED 52.5
Charges for One-time Sweep Setup AED 52.5
Charges for Cancelling/Amending Standing Instruction AED 52.5
Fees for Cancelling/Amending Sweep AED 52.5
Charges for Standing Instructions (Account to Account - within Al Hilal Bank) Free
Fees for Standing Instructions (per transaction) Local Currency within the UAE (via SWIFT) Free
Fees for Standing Instructions (per transaction) Foreign Currency within the UAE, GCC, and Other Countries (via SWIFT) AED 36.75
Fee for Holding Insufficient Funds for Standing Order Free
Fee for Holding Insufficient Funds for Sweep Free
Liability Letter Issuance Charges AED 63
No Liability Certificate Issuance Charges AED 63
Issuance of Release Letter Free
Remittance Inwards Free
Remittance Outwards Free
Demand Draft Issuance Charges AED 31.50
Manager’s Cheque Issuance Charges AED 31.50
Demand Draft/ Manager’s Cheque Cancellation AED 52.50
Special Clearing (per item) AED 215.25
Cheque Deposited for Collection with the UAE Free
Cheque Deposited for Collection Outside the UAE AED 105 (per item)
Transaction Fee (Branch Counter) 6 Teller Transactions free per month; AED 10.5 for each additional transaction
Cheque or DD or Manager’s Cheque Stop AED 52.5
Account Closure Charges Free
Dormant Account Charges Free
Charges for Requesting a Copy of Old Cheques/Documents in less than 1 year AED 10.5
Charges for Requesting a Copy of Old Cheques/Documents of more than 1 year AED 21.00
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Given below are the terms and conditions applied to the Al Hilal Bank Savings Account -

  • The profit is calculated on the minimum monthly balance maintained. The calculation period is one calendar month starting from the first day of the month after opening the Al Hilal Bank Savings Account. 
  • If the Al Hilal Savings Account is closed before the applicable profit payment date, you agree that you do not have any right to receive the accrued profits on the Mudarabah Capital for the months in which Al Hilal Savings Account is closed. This further implies that you agree to receive an amount equivalent to the maintained account balance as per Takharuj for that month. 
  • The bank has the right to restrict or limit the number of withdrawals via the branches during a calendar month from the Al Hilal Savings Account. If the number of withdrawals exceeds the allotted limit, the bank will collect a service charge as specified in the Schedule of Fees for every extra withdrawal transaction. 
  • If the bank agrees to accept bills, DDs, instruments, and cheques from outside the UAE for clearing and collection, it implies that you have agreed and accepted the following -
    • The clearing or collection of the instruments from abroad depends on the practices and laws of the country in which the drawee’s bank is.
    • Al Hilal Bank will accept the instruments for clearing at its sole discretion. It can refuse the facility or return the Foreign financial instrument at any time. 
    • The bank is not responsible for the realisation of any instrument deposited with it or for the amount given by the foreign bank. It is not responsible for delays or loss of mail or courier, operating errors, and clearing system delays. 
  • The bank will convert the foreign currency deposits or transfers to the Al Hilal Bank Savings Account at the existing exchange rate at the time of transfer. 
  • The bank will freeze your Al Hilal Savings Account and suspend its operations if you breach any of the following terms and conditions -
    • Any instructions that you give to the bank that are conflicting or unacceptable as per the agreed terms and conditions stated by the bank. 
    • If the bank suspects fraud or illegality in any transaction
    • If the bank requires further information or documentation for the purpose of operating the account but you fail to do so. 
    • If the Central Bank of the UAE issues an instruction regarding the same

Al Hilal Bank Savings Account Frequently Asked Questions

Is there any minimum balance required to be maintained for operating the Al Hilal Savings Account?

Al Hilal Savings Account is a zero-balance account, meaning that you do not have to maintain a minimum balance. However, if you wish to earn a profit, you would be required to maintain a minimum monthly balance of AED 5,000.

How can you win AED 1,000,000 as a prize with an Al Hilal Savings Account?

You need to meet the following criteria -

  • Maintain a minimum balance of AED 5,000 or transfer your salary to Al Hilal Savings Account
  • For every extra AED 5,000 on your balance, you get an additional draw entry, increasing your chances of maximising savings and increasing the possibilities to win. 
Can you access ADCB ATMs to withdraw funds from your Al Hilal Savings Account?

You can use ADCB ATMs to withdraw money from your Al Hilal Bank Savings Account for free.

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