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Ajman Bank Accounts

The first Islamic Bank established in Ajman, the Ajman Bank is one of the renowned banks in the UAE. It has ATMs and branches throughout the UAE and is committed to providing progressive Islamic Banking Solutions in the UAE. The bank offers a huge range of value-driven banking facilities in the UAE, all in compliance with Sharia principles.

Amongst the various products offered by Ajman Bank, bank account is worth mentioning. The customers can open different types of accounts in the UAE that help them in maintaining their financial needs. The account holder may also avail various amazing features and benefits with these accounts.

Features & Benefits of Ajman Bank Accounts

Here are a few key features of the various Ajman Bank Accounts.

Sharia Compliance

This Savings Account by Ajman Bank is completely Sharia-compliant, that is, it follows the Sharia principles of the Islamic Law.

Competitive Profit Rates

The account holder can avail competitive profit rates with the Ajman Bank Account. The profit earned can be considered as additional income or savings. 

E-Statements

The Ajman Bank provides complimentary monthly or quarterly statements on the bank account. The account holder can also avail the option of e-statements on these bank accounts.

Available in Multiple Currencies

These bank accounts offer the flexibility of investing in various currencies to the account holder such as UAE Dirhams, Pound Sterling, US Dollar, or Euro.

Online and SMS Banking

The account holders can get all the updates on their bank accounts through SMS alerts. They can also avail the option of online banking through the user-friendly Ajman Bank online banking portal.

Bill Payments

A number of Ajman Bank Account come with an option of complimentary payment of utility bills including DEWA, FEWA, SEWA, AADC, ADDC, Salik Recharge, du, and Etisalat.

Ajman Bank Account Types in UAE

The Ajman Bank offers the customers various types of bank accounts in the UAE to help in fulfilling their financial needs. Following are some of these bank accounts.

Ajman Bank Savings Account

This  Sharia-compliant Savings Account by Ajman Bank is designed specifically for the account holders to avail more returns as well as save more for a secured future.

The lowest balance maintained every month in the account is considered for calculating the profits. These profits are shared quarterly as per the pre-determined ratio between the bank and the account holder.

Ajman Bank Current Account

This Sharia-compliant account is an Ajman Bank Account with a credit balance, which can always be paid on demand. These current accounts are designed for delivering optimum quality services that serve one’s personal and business account needs.

The current account can be operated by not only individuals but also by businesses and companies. The account holder gets a complimentary MasterCard Platinum Debit Card along with chip security. The first cheque book with this account is also free.

Ajman Bank Payroll Account (Salary Account)

This bank offers the account holders a one-stop solution for fulfilling their financial needs. This payroll or salary account helps in taking away the hassle of payroll management. It provides employees with easy access to various banking services.

This Ajman Bank Account does not require an average or minimum balance. It offers a convenient salary transfer facility for employees at corporate houses with simple and minimum documentation.

Ajman Bank Mudaraba (Fixed Deposit Account)

This Sharia-compliant fixed deposit is designed specifically for offering more returns to the account holder. The longer is the tenure of the deposit, higher would be the returns.

The profits on this account are generated & distributed through the common Mudaraba pool. This pool is the joint investment pool amongst the shareholders and depositors. The major features of this bank account include:

  • 3-12 months’ flexible deposit tenure
  • Available in both USD and AED
  • Profit is distributed quarterly
  • Minimum balance required: AED 10,000

This account can be opened for individuals, minors, and also as joint accounts. It is available for different kinds of businesses including partnerships, sole proprietorships, and Limited Liability & Joint Stock organizations.

Ajman Bank 2-in-1 Account

The Ajman Bank offers a bank account in UAE that provides the account holder with combined benefits of a Current as well as a Savings Account. The facilities of cheque book, Debit/ATM card, and flexibility of earning profits on the deposits are offered on this 2-in-1 account.

This account helps in saving more as well as managing regular transactions. It can also be considered as a regular checking account or a salary transfer account. The applicant can open this Ajman Bank Account with AED 10,000 or above.

Documents Required to Open Ajman Bank Account in UAE

For opening bank accounts with Ajman Bank, the applicant needs to submit a few documents with the bank. Here are a few Ajman Bank account opening documents that are to be submitted.

Category Details
ID Proof
  • Emirates ID for both Expats and UAE Nationals (original & copy)
  • Passport along with Visa details for Expats (original & copy)
Form
  • Duly filled up and signed form for account opening and T&Cs
Other Documents
  • Salary Certificate (for salary transfer account)

How to Open Ajman Bank Account in the UAE?

An applicant has three options for Ajman Bank account opening. They can either visit the brick and mortar branch of the bank or use the online banking portal of the bank or can open it through phone banking.

Branch Applications

The applicant can visit the nearby branch of the Ajman Bank for getting their accounts opened. They need to carry the required documents with them and submit them along with the duly filled account opening form.

Online Applications

The Ajman Bank provides the applicants the convenience and facility to conduct a majority of their transactions at the hour that suits them not just in the Emirates but also across the world. This can be ensured through the bank’s online banking portal. The applicant can get their accounts opened through this secure net banking channel.

Phone Banking

The applicant can also contact the bank on its official customer support number 80022 for bank account opening in UAE.

Ajman Bank Account - FAQs

Question 1: Do I have to pay any account opening charge for opening bank accounts with Ajman Bank?

Answer: No. The Ajman Bank does not charge any account-opening fee from you.

Question 2: Do I have to pay any account closure charge for closing a bank account with Ajman Bank?

Answer: Yes. You have to pay an account closure charge of AED 100 for closing an account with Ajman Bank only when it is closed within one year. In the case of fixed deposits, the account closure fee is 2 percent of the fixed deposit.

Question 3: What is the minimum balance required to maintain on the Ajman Bank savings and current accounts?

Answer: You need to maintain a minimum balance of AED 3,000 on both savings and current accounts with Ajman Bank in the UAE.

Question 4: Do I need to pay any fees on the e-statement of my account?

Answer: No. You do not need to pay any fees on the e-statement of your account, it is a complimentary facility.

Question 5: Are the Ajman Bank Account Sharia-compliant?

Answer: Yes. These bank accounts are in compliance with the Sharia principles of the Islamic Laws.

Question 6: Do I have to pay any charges for activating a dormant account?

Answer: No. You do not have to pay any fees for activating a dormant account 

Question 7: What is the minimum account balance required for participating in Mudaraba pool?

Answer: The minimum account balance needed for participating in the Mudaraba pool is the following-

Account Type AED USD EUR GBP
Savings 5000 1000 800 800
Fixed Deposit 10,000 5,000 5,000 5,000

 

Question 8: Can I deal in any currency other than AED on these Ajman Bank Account?

Answer: Yes. Some of the currencies available on these accounts other than UAE Dirhams which include US Dollars, Euro, and Pound Sterling.