Ajman Bank Savings Account

Ajman Bank believes in motivating all its customers to practice savings. Their Sharia-compliant savings account UAE provides the account holder with a variety of benefits. It is designed specifically for them to save more funds and avail more returns so as to secure their future.

With competitive profit rates, this bank account attracts a lot of customers in the UAE. The account holder can make free payments of utility bills and avail free statements on this account.

Ajman Bank Savings Account Features and Benefits

Mentioned below are a few features and benefits of this Savings Account.

Sharia Compliance

This Savings Account is in compliance with the Sharia principles of Islamic Law. The Ajman Bank offers modern Islamic banking solutions to the account holder.

Profit Rate

The profits earned on this Ajman Bank Savings Account are calculated monthly on the lowest maintained balance. These profits are distributed quarterly on the basis of the pre-determined ratio between the bank and the account holder.

Bank Statements

The account holder receives free statements on their bank account every quarter. They also have an option of availing e-statement.

Online and SMS Banking

The Ajman Bank provides e-banking facility to the account holders for conducting a majority of their transactions at any hour of the day as per their convenience. They can avail the facility of online and SMS banking with this savings account for easy and hassle-free banking solutions.

Bill Payment

The account holder can avail the facility of complimentary utility bill payment, which includes DEWA, FEWA, SEWA, AADC, ADDC, du, Etisalat, and Salik Recharge.

Multiple Currencies

The account holder has the flexibility of making an investment in multiple currencies that include UAE dirhams, Pound Sterling, US Dollar, and Euro.

Documents Required to Open an Ajman Bank Savings Account in UAE

In order to open a savings account with Ajman Bank, the applicant has to submit the required documents. Enlisted below are the documents required for opening the account.

Category Details
ID Proof
  • Emirates ID for both Expats and UAE Nationals (original & photocopy)
  • Passport along with Visa Page for Expats (original & photocopy)
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 Savings Account in the UAE?

There are three methods of Ajman Bank Savings Account opening in the UAE- by visiting the branch, through online banking, and via phone banking.

Visiting the Branch

The applicant can visit the nearest brick and mortar branch of the bank for opening the savings bank account in the UAE. They have to carry with them the required documents, which are to be submitted to the bank.

Online Banking

The Ajman Bank offers the facility of online banking for their customers so that they can conveniently access banking solutions anytime anywhere. The applicant can get their savings account UAE opened using the secured online banking option of the bank.

Phone Banking

For opening a savings account with Ajman Bank, the applicant can call on the official customer care number of the bank - 80022 and apply for the same.

How to Close Ajman Bank Savings Account in the UAE?

For closing the savings bank account with Ajman Bank, the account holder should first and foremost withdraw their money from the savings account or transfer it to some other account.

After this, the account holder can apply for the closure of the account on the branch of Ajman Bank, through online banking, or through phone banking.

The account holder will have to pay an account closure fee of AED 100 if they close the account within one year.

Ajman Bank Savings Account - FAQs

Question 1: Do I have to pay any fee if my savings account balance goes below the minimum requirement?

Answer: Yes. You will have to pay a monthly fee of AED 25 (equivalent in other currencies) if your account balance goes below the minimum requirement.

Question 2: What is the minimum balance I need to maintain on my Ajman Bank Savings Account?

Answer: You need to maintain a minimum balance of AED 3,000 on your savings account with Ajman Bank. On failing to do so, you will be charged a monthly fee as mentioned above.

Question 3: What is the amount of fees that I have to pay on direct debit or standing instruction set up?

Answer: For setting up direct debit or standing instruction, you will have to pay a fee of AED 50.

Question 4: What all currencies can I make my investment in?

Answer: You have multiple currency options available for making your investments, which include UAE dirhams, Pound Sterling, US Dollar, and Euro.

Question 5: What are the various electronic channels available for me to make my banking transactions?

Answer: The Ajman Bank offers you the convenience of their electronic channels, which include the following.

  • Phone banking
  • Internet banking
  • Mobile banking
  • SMS banking
  • Interactive e-statement
  • ATM or CCDM

Question 6: On what basis are my profits calculated?

Answer: Your profits are calculated on the lowest maintained balance in your savings account UAE each month.

Question 7: On what basis are my profits shared to me?

Answer: Your profits are shared to you on the basis of the pre-determined ratio between your bank and you. It is distributed every quarter.

Question 8: In what frequency do I receive my bank statements?

Answer: You will receive your free bank statements every quarter. You can also avail the option of e-statements on this savings bank account.