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.
One of the best savings accounts in UAE, the Emirates Islamic e-Savings Account offers a great range of savings to the customers with a minimum limit of transactions. It is exclusive made available for existing Emirates Islamic Bank customers and can be accessed from the ease of your home. The convenience of the highest regards when the e-Savings Account from Emirates Islamic bank is concerned.
A savings account that comes with a long list of benefits for the customers, an e-Savings Account offers a lot to the customers apart from a high rate of profit percentage on savings. The following is the complete list of features and benefits that the Emirates Islamic e-Savings Account offers:
The interest rates or profit rates offered on e-Savings account from Emirates Islamic bank differ as per the currency of the account in consideration, deposited sum in the account as well as whether the customer is new or old. Following is a detailed explanation of the interest rate offered by Emirates Islamic Bank on e-Savings account:
|Deposit Amount||Profit Rate for AED Accounts||Profit Rate for USD Accounts|
|5K to 50K||0.40% per annum||0.20% per annum|
|50K to 3.5 Million||0.60% per annum||0.40% per annum|
|3.5 Million up to 25 Million (or more)||0.80% per annum||0.60% per annum|
New customers enjoy a profit rate of 1% p.a. across all deposit slabs in AED accounts and 0.90% p.a. in USD accounts for the first three months of opening the account.
Being one of the best savings accounts offered by Emirates Islamic bank, the e-Savings account does not come with additional fees. It does not have a monthly or annual management fee on it and no charges for not maintaining a minimum account balance either. However, charges are set for SMS alert services (AED 5) and other services common to all kinds of accounts offered by the bank.
Since the e-Savings account can be opened by an existing customer do Emirates Islamic Bank, there are no additional documents required for you to submit. The bank simply processes your account opening request with the documents that have been submitted with the bank already.
Follow the below-mentioned steps to open your e-Savings account in a matter of minutes:
Ans: The Emirates Islamic e-Savings Account is offered to be opened in two currencies – AED and USD.
Ans: One e-Savings Account can be opened in one currency for every Emirates Islamic customer.
Ans: Yes, every e-Savings Account holder is eligible to get SMS alerts and push notifications related to your account on your phone. All you have to do is register for the service with the bank using your registered mobile number.
Ans: The average balance is calculated by adding the daily closing balance of your account and dividing the sum by the total number of days in the concerned month.
Ans: You can make any transaction you like from your e-savings account via online methods including fund transfers, bill payments, etc.
Ans: There is no withdrawal limit on the e-Savings Account. However, after a withdrawal is made from your e-savings account, the profit of the said quarter will be paid based on the interest rate of the month in which the withdrawal was made.
Ans: The limit of online transactions depends on the type of transfer that you are making. Following is a detailed list of the limits imposed on each kind of transfers:
|Type of Transaction||Limit|
|Utility and Bill Payment||AED 15,000|
|Transfer to other Accounts of your own||AED 300,000|
|Transfers to other Accounts||AED 100,000|
|Telegraphic Transactions||AED 100,000|
Ans: The ‘Fall Below’ fee is applicable on your e-Savings Account on a total of AED 3000 customer relationship balance.
Ans: No, there are no chequebooks or ATM cards provided with the e-Savings Account.