Al Hilal Bank Accounts

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Established in 2007, Al Hilal Bank is a progressive Islamic bank headquartered in Abu Dhabi, United Arab Emirates (UAE). Known for its client-centric approach, Al Hilal Bank offers a comprehensive range of Shariah-compliant retail banking, treasury, and wealth management services. 

Among its array of financial products, the bank places great importance on its diverse range of bank accounts including current and savings accounts. These accounts are designed to cater to the specific needs of individuals and businesses, providing them with convenient and secure banking solutions.

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Types of Al Hilal Bank Accounts

Currently, Al Hilal Bank offers two types of bank accounts – Current Accounts and Savings Accounts. Let’s take a look at each of the Al Hilal bank accounts in brief.

1. Al Hilal Savings Accounts –

Al Hilal Bank savings accounts provide you with a secure and convenient way to save and grow your funds while adhering to Islamic principles. With competitive profit rates and the flexibility of easy access to funds, the Al Hilal Savings Account ensures that you can achieve your savings objectives efficiently. 

With this account, you also get convenient banking services such as online and mobile banking, which can help you manage your accounts conveniently from anywhere and at any time. With features like personalised debit cards and the option to set up standing instructions, the Al Hilal Savings Account offers a comprehensive and rewarding banking experience.

2. Al Hilal Current Accounts –

For businesses and individuals with a higher frequency of financial transactions, Al Hilal Bank presents the current account. This account is designed to cater to the day-to-day banking needs of customers, providing them with a reliable and efficient financial solution. 

With an Al Hilal Bank current account, you can easily manage your finances, make and receive payments, and access a range of banking services. Whether it is for individuals or businesses, the Al Hilal Current Account offers a reliable banking solution for smooth and hassle-free day-to-day transactions.

Features and Benefits of Al Hilal Bank Accounts

  • Savings Account

  • Current Account

Here are the key features and benefits of the Al Hilal Bank Savings Account:

  • Monthly Prize Draw: You have a chance to win AED 1 million through a monthly prize draw.
  • Shariah-Compliant: The account’s functioning is in accordance with Islamic principles, making it a Shariah-compliant Islamic account.
  • Zero Balance Account: No minimum balance is required to open or maintain the account, which makes it accessible to all.
  • MasterCard Debit Card: Account holders receive a MasterCard Debit Card, available in both virtual and physical forms, for convenient and secure transactions.
  • Free Cash Withdrawals: You can withdraw cash without any fees at ADCB ATMs, providing easy access to funds.
  • Monthly Profit Distribution: With monthly profit distributions on your savings, you can easily grow your money over time.
  • Free e-Statement: Account holders receive free electronic statements to provide a digital record of their account activity.
  • No Bank Charges: There are no bank charges for local and international transfers, making it cost-effective to manage and move funds.
  • No Minimum or Average Balance Requirement: Al Hilal Bank savings account does not have a minimum or average balance requirement.
  • Attractive Profit Rates: Saving with Al Hilal Bank provides one of the most attractive profit rates in the market, maximising savings potential.
  • Monthly Prize Draws: In addition to the AED 1 million prizes, the bank awards 20 monthly prizes of AED 1,000, giving its customers more chances to win.
  • Single Debit Card Convenience: The account offers the convenience of a single Debit Card, allowing customers to switch between accounts seamlessly.
  • Easy Application Process: You can easily open an Al Hilal savings account through the UAE PASS facility.

Mentioned below are some of the notable features of Al Hilal Bank current account – 

  • Shariah-Compliant: The account is a Shariah-compliant Islamic account, ensuring adherence to Islamic principles in all transactions and investments.
  • Zero Balance Account: There is no minimum balance requirement, making it a zero balance account. You can open and maintain the account without worrying about maintaining a specific minimum balance.
  • MasterCard Debit Card: Account holders receive a MasterCard Debit Card, available in both virtual and physical forms.
  • Chequebook (Coming Soon): The account will soon offer the added convenience of a chequebook, allowing you to make payments and transactions through cheques.
  • Free Cash Withdrawals: Al Hilal account holders can withdraw cash with no fees at ADCB ATMs, which ensures easy access to funds.
  • Single Debit Card Convenience: The account offers the convenience of a single Debit Card, allowing you to switch between accounts seamlessly.
  • No Bank Charges: There are no bank charges for local and international transfers, making it cost-effective to manage and move funds.
  • Free e-Statement: Account holders receive free electronic statements, using which they can have a digital record of their account activity.

No Minimum or Average Balance Requirement: The account does not have a minimum or average balance requirement, providing flexibility to customers.

Eligibility Criteria of Al Hilal Bank Accounts

You are required to fulfil the following eligibility criteria to open Al Hilal savings and current account – 

Parameters Al Hilal Savings Account Al Hilal Current Account
Age
  • Individuals who are 18 years or older can onboard themselves for an Al Hilal Savings Account.
  • Individuals who are below 18 years of age can be onboarded by their natural parents.
  • Individuals who are 21 years or older are eligible to open an Al Hilal Bank Current Account.
Minimum Average Balance To Earn Profit
  • Age 21 & above: Customers aged 21 and above must maintain an average balance of AED 5,000 to be eligible to earn profit.
  • Age 13 to 21: Individuals in this age range must maintain an average balance of AED 1,000 to be eligible to earn profit.
  • Age below 13: Such customers must maintain an average balance of AED 500 to be eligible to earn profit.
  • The Al Hilal Bank Current Account does not have a minimum average balance requirement to earn profit.
Minimum Balance Requirement
  • There is no minimum balance requirement to open an Al Hilal Savings Account.
  • There is no minimum balance requirement.
UAE/GCC Nationals
  • Both UAE and GCC nationals are eligible to open an Al Hilal Savings Account.
  • Both UAE and GCC nationals are eligible.
Residents With Valid EID
  • Residents with a valid Emirates ID (EID) can qualify for Al Hilal Savings Account.
  • Residents with a valid visa in the UAE are eligible to open an Al Hilal Bank Current Account.

Al Hilal Debit Card

Documents Required for Al Hilal Bank Accounts

Keep the following documents ready to open Al Hilal bank accounts without any delays – 

  • Copy of your passport
  • Copy of your Emirates ID

Note: You may be required to submit additional documents apart from the ones listed above for verification purposes. 

How to Apply for an Al Hilal Bank Account?

Applying for an Al Hilal Bank account via Policybazaar.ae is a convenient and straightforward process. Policybazaar UAE is an online platform that can help you apply for various financial products, including bank accounts, in the most convenient manner. 

After visiting the official website of Policybazaar.ae, you can easily access the bank account section and fill out a lead form with the required information. After submitting the form, you will be redirected to the bank quotes page, where you can filter the options to specifically view Al Hilal bank accounts. 

From the available choices displayed on your screen, you can select the desired product and proceed with the application. Policybazaar UAE provides all the necessary information to make an informed decision about the Al Hilal bank account.

Some key advantages of applying for bank products via Policybazaar.ae include:

  • Convenience: Policybazaar UAE is an online platform, which allows you to apply for bank products from the comfort of your home or office. There's no need to visit multiple bank branches, spend time in long queues, or even open multiple tabs in your browser.
  • Comparison: You can compare different bank products, including interest rates, fees, features, and benefits. This helps you make a well-informed decision and choose the best-suited Al Hilal bank account.
  • Time-saving: With Policybazaar.ae, you can save time by accessing multiple bank account options and their details on a single platform. Instead of individually researching different banks, you can quickly compare and apply for the desired product.
  • Transparency: We provide comprehensive and transparent information about Al Hilal bank accounts. You can easily access details such as account features, eligibility criteria, documentation requirements, and terms and conditions, ensuring a transparent application process.
  • Expert assistance: Policybazaar.ae offers customer support to address any queries or concerns that you may have during the application process. Our knowledgeable team can provide guidance and assistance to help you choose the right Al Hilal bank account.

Open Al Hilal Bank Account

Terms and Conditions for Al Hilal Bank Account

Take note of the following terms and conditions when you open an Al Hilal Bank account – 

  • The Bank has the authority to open Mudarabah Accounts for the customer and current accounts for resident customers in the UAE, adhering to the laws and regulations set by the Central Bank. These accounts are governed by the principles of Islamic Shariah.
  • The customer must complete and sign the account opening application and provide all necessary documents as required by the bank. The bank reserves the right to accept or reject the application at its discretion without providing reasons. If accepted, the bank will sign the account opening application for approval.
  • Individual customers have the option to open an account in their own name or jointly with other individual customers.
  • Upon the customer's request and subject to the bank's discretion, minimum balance requirements, or service fees, additional accounts may be opened under the customer's name. Each account is considered independent and governed by these terms and conditions, collectively referred to as "account."
  • If the customer closes the account and fails to collect the credit balance or any outstanding amount, the bank will notify the customer to collect the funds at their provided address. 
  • If the customer does not collect the funds within one calendar month from the date of the notice, the amount will be transferred to the bank's charity fund. If the customer later requests the amount, it will be paid from the charity fund if sufficient balance is available; otherwise, the bank will make the payment.

Frequently Asked Questions (FAQs)

What is Al Hilal Ahlan?

Al Hilal offers an online banking app called Ahlan. The app provides you with a platform to open an account and facilitates you with Ahlan account related details too. You can download this app from Google Play or Apple App Store. 

What types of bank accounts does Al Hilal Bank offer?

Al Hilal Bank offers two types of bank accounts: Current Accounts and Savings Accounts.

What are the key features of the Al Hilal Savings Account?

The key features of the Al Hilal Savings Account include monthly prize draws, Shariah compliance, zero balance requirement, MasterCard Debit Card, free cash withdrawals, monthly profit distribution, free e-statements, no bank charges, attractive profit rates, and easy application process.

What are the benefits of the Al Hilal Current Account?

The benefits of the Al Hilal Current Account include Shariah compliance, zero balance requirement, MasterCard Debit Card, upcoming availability of a chequebook, free cash withdrawals, single debit card convenience, no bank charges, free e-statements, and no minimum or average balance requirement.

What are the eligibility criteria for Al Hilal Savings Account?

Individuals aged 18 years or above can open an Al Hilal Savings Account by themselves. On the other hand, individuals below 18 years of age can be onboarded by their natural parents.

Who is eligible to open an Al Hilal Current Account?

Individuals aged 21 years or older with a valid visa in the UAE are eligible to open an Al Hilal Current Account.

What documents are required to open Al Hilal Bank accounts?

To open Al Hilal Bank accounts, you need to provide a copy of your passport, a copy of your Emirates ID, and any other identification documents that may be required.

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