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frequently asked questions.

Active Saver Account

What is an Islamic Active Saver Account?

The Islamic Active Saver is a Sharia compliant Mudaraba based savings account product. It is designed in a manner that it is to be operated exclusively online on ADCB Personal Internet Banking. This makes your account accessible anytime, anywhere. Furthermore, due to higher weightages assigned to this type of account, the expected rate of profit to be earned under this account is higher than the other Mudaraba based savings accounts.

The Islamic Active Saver account does not have a minimum balance requirement or monthly fees, allowing more savings. The account can only be opened online (Apply Online), with an initial deposit of One Thousand Dirhams.

How many Islamic Active Saver Accounts can be set up through ADCB Personal Internet Banking?

You can setup up to 5 Islamic Active Saver Accounts through ADCB Personal Internet Banking.

How is profit calculated on the account?

Profit is calculated in accordance with the Sharia approved profit distribution mechanism and paid on a quarterly basis. Profit is paid as per the weightages assigned to various tiers dependent on the daily balance maintained. If the daily balance in the account changes tier, the profit is calculated using the corresponding weightages assigned to a specific tier. So, the higher the account balance, the more the profit you are expected to earn.

Does Islamic Active Saver Account charge any transaction fees?

Since the Islamic Active Saver account encourages savings, any deposit made in to the Islamic Active Saver account are free of any transaction charges. The same is true whether you are conducting your transactions through the branch or using ADCB Personal Internet Banking.

When using ADCB Personal Internet Banking, account holders are allowed 1 free credit card bill payment, and 1 free fund transfer within ADCB per month. After the 1st free credit card bill payment or fund transfer within ADCB, all debit transactions are charged. Fund transfers to non-ADCB accounts are charged from the 1st transfer.

Using the account to create fixed deposits or redeeming TouchPoints are not charged any transaction fees.

All withdrawal/transfer transactions made at the teller counter in any ADCB branch are charged. Please see 'Fees and Charges' to know more about the charges applied on the account.

Is there a profit forfeit condition on the Islamic Active Saver account?

There are no conditions, and profit is never forfeited. However, as stated above, any withdrawals over the monthly limited transactions are charged a transaction fee.

Which banking channels can be used to access the Islamic Active Saver account?

The Islamic Active Saver account is an account operated online, through ADCB Personal Internet Banking. ADCB Personal Internet Banking allows fund transfers within ADCB or to any other bank locally and internationally, withdrawals and deposits, opening of fixed deposits, and redemption of TouchPoints all at a click of a button.

For added convenience, visit any of the ADCB branches to make deposits or withdrawals. However, for every withdrawal made at the branch from the ADCB Islamic Active Saver Account a transaction charge is applied. Please click here to see 'Schedule of Fees and Policy' to know more about the charges applied on the account.

To encourage regular savings, an ATM card and a chequebook are not issued. An existing ATM/Debit Card cannot be linked to the ADCB Islamic Active Saver account either.

Please call us at 600 50 2030 anytime for any help or queries related with the ADCB Islamic Active Saver Account.

Does Islamic Active Saver account offer an SMS alert service?

Yes, free SMS alerts are sent to Islamic Active Saver Account holders. See the full list of SMS alerts here.

Can the Islamic Active Saver Account be held in currencies other than the UAE Dirham?

No, the Islamic Active Saver Account is offered only in UAE Dirhams.

Can business customers hold an Islamic Active Saver Account?

No, the Islamic Active Saver Account is offered only to individual customers.

Is it possible to transfer salary directly into this account?

No, salary transfers into the Islamic Active Saver account are not permitted.

Is Islamic Active Saver Shari’ah compliant?

Yes, Islamic Active Saver Account is Shari’ah compliant - please click here. It is based on the Islamic concept of Mudaraba and is approved by the Sharia Board of ADCB IB.

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