Emirates Islamic Bank Kunooz Savings Account

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Kunooz Savings Account is a flagship account from Emirates Islamic Bank that offers rewards and prizes to existing and new customers. The account holders get an opportunity to win a grand reward of 1 million Dirhams every three months or a premium Tesla car each month for maintaining a minimum monthly balance of AED 5,000 in their bank account. Additionally, they also stand a chance to win AED 50,000 every two weeks for maintaining a minimum daily balance of AED 1,000.

Emirates Islamic Kunooz Savings account is a perfect blend of banking and rewards that provides easy and convenient banking, including attractive prizes and offers for its customers. The bank also provides internationally recognised debit cards to access the funds. However, the customers need to fulfil some criteria to be eligible for the rewarding system. Let’s dive into the details to know more about the Emirates Islamic Kunooz Savings Account. 

Features of Kunooz Savings Account

  • Emirates Islamic Kunooz savings account is a sharia-compliant savings account. 
  • It offers several chances of winning cash and other exciting prizes.
  • An internationally accepted debit card is offered when you open a Kunooz savings account. 
  • This account can be opened as an individual savings account or a joint savings account.
  • Kunooz savings accounts can also be opened for minors. 
  • The minimum balance required for the Kunooz savings account is AED 3,000. 

Emirates Islamic Kunooz Savings Account Grand Prize

Win monthly Grand Cash Prize of AED 1 million, get a chance to win Tesla every month, or score several other exciting gifts with Emirates Islamic Kunooz savings account. With a chance to win this jackpot, most of the things you dream of are now within your reach. So if you want a profit on your savings but also win exciting prizes, your search stops with the Kunooz savings account. 

Here’s everything you need to know about this grand prize draw:

What’s in the Kunooz Savings Account Prize Draw?

  • Get a chance to win AED 1 million cash prize by taking part in the monthly draw. 
  • Get a chance to win a Tesla or a studio apartment every month. 
  • You can win AED 10,000 cash prize every two weeks.
  • The draw for the Grand Cash Prize of AED 1 million and a Tesla/studio apartment of next month is held during the first week of the current month.
  • The cash prize is credited to the Kunooz account of the winner within 2 months from the date of the draw. 

Eligibility Criteria for the Kunooz Savings Account Prize Draw

  • All Emirates Islamic customers with an active Kunooz savings account are eligible to participate in the draw if they have maintained the required minimum balance in the account.
  • An average minimum balance of AED 5,000 has to be maintained for a month or more to participate in the AED 1 million grand prizes and Tesla car raffle draw. 
  • An average minimum balance of AED 1,000 is required for at least a day to take part in the AED 10,000 raffle draw. 
  • Maintaining the above-mentioned minimum balance will provide the account holders with 1 entry in the raffle draw. 
  • The winning participant must have active Kunooz savings account to be eligible for the prize.
  • The raffle offer of the Emirates Islamic Kunooz savings account is valid till April 30, 2022. 

There’s more in store:

The names and pictures of the winners of each draw will be posted on the Emirates Islamic website Kunooz savings account page. 

Eligibility Criteria to open an Emirates Islamic Kunooz Savings Account

The individuals wishing to apply for the Kunooz savings account will be required to fulfil the criteria as laid down by the Emirates Islamic Bank. Given below are some basic eligibility criteria required to open an Emirates Islamic Kunooz Savings Account. 

  • Minimum Balance Requirement - An individual is required to maintain a minimum monthly balance of AED 3,000 to be eligible to open an Emirates Islamic Kunooz Savings Account.
  • Individual Type - The Kunooz Savings Account can be opened by individuals and joint account holders. It can also be opened for minors, subject to furnishing the documents required by the bank.
Criteria Eligibility
Nationality UAE and GCC nationals
Availability Individual, Joint, and Minor
Residency All UAE residents with a valid visa
Minimum Balance Required  AED 3,000

Documents required to open an Emirates Islamic Kunooz Savings Account 

The existing customers can directly log in to the official portal of Emirates Islamic Bank, enter their online banking credentials and apply for Emirates Islamic Kunooz savings account. New customers will have to first open an account in Emirates Islamic Bank and then apply for the Kunooz Savings Account. Following are the documents required to open a bank account in Emirates Islamic Bank.

Individual Type Documents Required 
UAE National/Resident
  • Original and copy of Emirates ID for the records
  • A copy of passport 
  • A copy of salary transfer letter or appointment letter
Non-Resident of UAE
  • Original and copy of valid Passport ID
  • Latest utility bill 
  • Latest bank statement 
  • Residence address as per the home country record
GCC National   
  • Original and copy of valid Passport ID
  • Original and copy of work permit or labour ID or
  • A valid UAE National ID

Note: Additional documents may be required for verification and maintaining records as per the bank’s discretion.

How to apply for Emirates Islamic Bank Kunooz Savings Account

Emirates Islamic Kunooz Savings Account can be opened easily by using the online banking facility for its existing users. However, new customers will have to first open an account in Emirates Islamic Bank and then use the online facility to apply for the Kunooz savings account. Following are the ways to apply for Emirates Islamic Bank Kunooz Savings Account. 

  • For Existing Customers - Customers who already hold a bank account with Emirates Islamic Bank can use online or mobile banking and choose the Kunooz savings account in the banking product section to apply for the same.
  • For New Customers - New customers can visit the Emirates Islamic Bank’s official website or the nearest branch and open a bank account. Thereafter, they can apply for the Kunooz Savings Account. 

Frequently Asked Questions 

Q1: Do I need to maintain a minimum monthly balance in the Emirates Islamic Kunooz Savings Account?

Ans: Yes, a minimum monthly balance of AED 3,000 needs to be maintained in the Kunooz Savings Account.

Q2: Can Kunooz Savings Account be opened for a minor in Emirates Islamic Bank?

Ans: Yes, Kunooz Savings Account is available for minors as well.

Q3: What are the grand prizes in this monthly grand prize scheme by Emirates Islamic Bank?

Ans: There are three different prizes available– a cash prize of AED 1 million, one Tesla Car, and an AED 10,000 cash prize every two weeks. 

Q4: How can I participate in the periodic raffle draws organised by Emirates Islamic Bank for Kunooz savings account holders?

Ans: The Kunooz savings account holders are required to maintain a minimum daily and monthly balance as set by the Emirates Islamic Bank. This will provide them entry into various lucky draws based on the maintenance of minimum balance.

Q5: What is the minimum balance I need to maintain to be eligible for the grand prize offer by the Kunooz savings account?

Ans: You need to maintain a minimum balance of AED 3,000 as the general requirement of the Kunooz account. Additionally, your average account balance must be at least AED 1,000 every day to take part in the grand prize draw. 

Q6: How will be the winning prize distributed by Emirates Islamic Bank?

Ans: The Emirates Islamic Bank will announce the lucky draw results by publishing them on their portal and in the media. The bank will also contact the winning customers to claim their prize as per their recorded address and contact details. In the case of cash prizes, the amount will be credited to the customer’s Kunooz savings account. 

Q7: Who is in charge of regulating this draw?

Ans: The Department of Economic Development is in charge of keeping an eye on the grand prize raffle and its proceedings. 

Q8: What is the last date of this raffle draw?

Ans: The Kunooz savings account raffle draw is open till April 30, 2022. 

Q9: Where will I receive my prize money if I win the draw?

Ans: You will get your prize money in your Kunooz account if you win the draw.

Q10: Can my spouse or children take part in the grand prize draw?

Ans: No, spouses and children of the account holders or the bank executives are not allowed to take part in the draw in place of the account holders. However, they can apply in case of joint accounts and minor accounts 

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