Having a savings account is essential once you start earning, as such a bank account can help you in securing your capital along with attractive interest rates.
An investment deposit account is a deposit account that offers the benefits of both investment and deposits. When you choose to deposit money in this type of account, the bank invests your money in the market allowing you to earn more profit on your investment. Though this account is not free of market risks, you do not lose any money even in the worst-case scenario. To maximize your savings and benefits, Dubai Islamic Bank brings an Al Islami investment deposit account that allows you to earn more on your savings.
When you deposit your savings in the DIB Al Islami investment deposit account, you earn more profits on your deposited amount since the amount in your deposit account is invested in the UAE stock market. Even though the market is prone to risks, the bank provides you 100% balance safety guarantee. In case the market loses points, you will still not lose any money. On the other hand, if the market climbs, you may receive more than 50% interest on your savings. Besides, the profits will be paid into your investment deposit account quarterly. If you choose to deposit the amount for a year, the interest will transfer to your account 4 times. On the other hand, if you choose to deposit the amount only for a month, the interest will be transferred at the end of the month.
According to a study, many investors in the UAE lose money in the stock market because they invest for the short term. As the market quiver, many investors lose their nerves and sell their stocks. Consequently, they end up earning lower profits or losing money. DIB Al Islami Investment Deposit Account is a long-term investment plan where you can deposit money for up to a year. The bank will continue to invest your money in the market for the long term ensuring that you get maximum returns.
DIB Al Islami investment deposit account is available for minors. You can open this account for your child and save money for them. The control of the account will remain with you or the guardian or father as per the norms of the court. The high returns on this account will ensure that you save more money for your child’s future. This account is your first step towards planning the financial needs of your child from education to wedding. You can re-invest the money to expand your returns.
With the DIB Al Islami investment deposit account, you receive the freedom to choose the tenure for which you want to keep the money locked. Unlike several other accounts, this account also allows shorter investment tenures to meet your needs. You can choose flexible tenure options of 1, 3, 6, 9, or 12 months. You can choose to close the account within a month or three months or six months, or a year. Please note that the minimum deposit tenure is 1 month.
If your account is the principal liquidation account for the investment deposit, the maintenance fee on your DIB Al Islami investment deposit account will be waived.
The rates of profit for the DIB Al Islami investment deposit account are calculated as per the profit earned by the bank using your investments. When the bank earns profit, it shares the percentage of profit with you. The profit share is directly proportional to the tenure and the amount. The more amount you invest for a longer tenure, the more profit share you will earn on your savings. Here is the share of profit:
|One year deposit more than 100 million||72%||48%||66%||45%||36%||25%||18%||65%|
|One year deposit less than 100 million||61%||45%||63%||43%||32%||23%||14%||59%|
|Nine months deposit more than 100 million||61%||43%||57%||39%||32%||23%||14%||54%|
|Nine months deposit less than 100 million||57%||39%||54%||38%||29%||19%||11%||48%|
|Six months deposit more than 100 million||57%||39%||52%||36%||29%||22%||11%||45%|
|Six months deposit less than 100 million||54%||36%||48%||34%||25%||16%||7%||41%|
|Three months deposit more than 100 million||52%||29%||39%||25%||22%||13%||7%||34%|
|Three months deposit less than 100 million||48%||25%||36%||23%||22%||9%||4%||31%|
|One month deposit more than 100 million||47%||22%||31%||16%||18%||5%||4%||29%|
|One month deposit less than 100 million||43%||16%||27%||14%||11%||5%||2%||25%|
You require depositing a minimum amount of AED 10,000 in your DIB Al Islami investment deposit account. If you are using USD or EUR currency, you require depositing USD 3000 or EUR 3000). If you wish to deposit a lower amount, choose other account options available with the bank.
DIB Al Islamic investment deposit account is a flexible bank account that accepts currency in AE Dirham (AED), US Dollars (USD), Great Britain Pounds (GBP), Euro, Saudi Riyal (SAR), Qatari Riyal (QAR), Japanese Yen (JPY), and Canadian Dollar (CAN $).
Any UAE resident or national aged above 18 can open a DIB Al Islami investment deposit account. In case you are opening this account for a minor, the guardian, or the parents.
In case you are an existing DIB customer, you do not need additional documents
If you are not an existing DIB customer you require:
Please note that this list of required documents is not exhaustive and the bank may require more or other documents to open your account.
You can open an Al Islami investment deposit account offline or online.
To open the account offline:
You can also apply to open a DIB Al Islami investment deposit account online:
You can also open the account by simply calling at bank’s customer care
If you are an existing DIB customer, you can open the Al Islami investment deposit account via
DIB mobile banking app via telephone banking pin
Alternatively, you can also open a DIB Al Islami investment deposit account in a few minutes at policybazaar.ae
Q1: How can I deposit the amount to the Al Islami investment deposit account?
Ans: You can deposit the amount to your Al Islami investment deposit account via cash, cheque, or e-transfer.
Q2: Is the Al Islami investment deposit account an Islamic account?
Ans: Yes, it is an Islamic account.