Al Hilal Bank Salary Transfer Account
The Al Hilal Salary Transfer Account is opened on the terms of Mudarabah. It can be opened in both the Savings Account or the Current Account.
One of the best features of the Salary Transfer Account is the zero charge for maintaining the monthly balance.
However, with Savings Account, customers with a minimum monthly balance of AED 5000 are eligible for profits.
Al Hilal Salary Transfer Account - Features & Benefits
The features and benefits of the Al Hilal Salary Transfer Account include the following:
- Personalized Salary Transfer Account number
- No requirements for initial deposits
- No requirements for minimum balance
- Attractive profits rates are expected
- Calculation of monthly profits on Savings Accounts and distribution
- The facilities of mobile and online banking services are free
- Mudarabah is Shariah compliant
- A Shopping Card is given free
- E-statements are free
- On current Accounts, the first Cheque Book is free
- 2 ATM transactions are free within the UAE
- 3 online transfers are free within UAE in a month
- For the first year, 1 international transfer is free in a month
Eligibility Criteria to Open an Al Hilal Salary Transfer Account
The eligibility requirements to open a Salary Transfer account with the Al Hilal Bank are:
- Minimum salary of AED 5000 per month
- Must be a resident of the UAE
Documents Required to Open an Al Hilal Salary Transfer Account in UAE
To open a Salary Transfer Account in the Al Hilal Bank, the applicant must have the following documents:
- Salary transfer certificate or salary letter
- Salary proof
How to Open an Al Hilal Salary Transfer Account in the UAE
To open an Al Hilal Salary Transfer Account in the UAE, the applicant will have to visit the nearest branch of the bank.
The applicant can also apply Online.
How to Close an Al Hilal Salary Transfer Account in the UAE
To close the Al Hilal Salary Transfer Account in the UAE, the Account holder will have to submit a letter to the bank’s branch.
Al Hilal Salary Transfer Account - FAQs
Q.1 Can I open a Current Account with the Al Hilal Salary Transfer Account?
Ans: Yes, it is possible to open a Current Account with the Al Hilal Salary Transfer Account.
Q.2 What are the ways to make payments for the deposits in the Al Hilal Salary Transfer Account?
Ans: You can make the deposit via cash, Cheque, bank transfers, etc for the Al Hilal Salary Transfer Account.
Q.3 Under which conditions can the Al Hilal Bank freeze or suspend my account?
Ans: The Al Hilal bank can freeze or suspend your accounts under the following conditions-
- If the client’s instructions are ambiguous, not acceptable, etc.
- If there is any suspicion of fraudulent activities
- If the customer fails to provide the necessary instructions asked by the Al Hilal Bank
- If any competent authority or the Central Bank issues such instruction
Q.4 What are the terms I, as a customer, acknowledge unconditionally if the Al Hilal Bank accepts any payments outside the UAE for the clearance of the collection?
Ans: The terms that you agree in such cases are as follows:
- The collection or clearance is as per the laws of the state or the country of the drawee bank
- The bank has the right to refuse the acceptance of the foreign instruments
- The bank holds no responsibility for the foreign transactions s in case of loss or stolen deposits
- The Bank may recall or return the funds in certain countries
Q.5 What is the profit calculation period?
Ans: The profit calculation period is the period of the first, third, sixth, ninth or twelfth calendar months with regards to the Mudarabah. It is the period where the profit rates are calculated.
Q.6 What is a Mudarabah Account?
Ans: Mudarabah Accounts are the Accounts that are opened on the basis of Mudarabah.
Q.7 What are the available Account options for the Al Hilal Salary Transfer Account?
Ans: With the Al Hilal Salary Transfer Account, you have the option of either opening a Current Account or the Savings Account.
Q.8 What are the ways to Bank with the Al Hilal Salary Transfer Account?
Ans: with the Al Hilal Salary Transfer Account, you can bank via the following ways:
- ATM and Branches of the Banks
- Internet Banking
- Phone Banking
- Corporate net Banking
Q.9 Can I open the Al Hilal Salary Transfer account in any Currency?
Ans: No. The Al Hilal Salary Transfer Account can only be opened in AED.
Q.10 What are the charges for the dispute in ATM transactions?
Ans: If the verification, in terms of the ATM dispute, is in the customer’s favor, there will be no charge. Meanwhile, if the dispute in favor of the Bank, 31.50 AED will be charged.
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