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FAQ
Answers to the most
frequently asked questions.
Millionaire Destiny Savings Account
It is an account that rewards customers for their savings. Customers can access their funds at all times and withdraw any amount as and when needed.
- Offered to all UAE residents.
- A minimum average monthly balance of AED 5000 is required to enter the prize draw for a chance to win prizes.
- Every additional AED 1,000 saved gives you an extra chance to enter the prize draws.
- It’s a transactional account that comes with a debit card and is accessible through all digital channels (Internet, Mobile and SMS banking).
- Over the counter transactions are allowed.
- Profits are paid every quarter.
- Available in AED & USD.
ADCB and its subsidiaries’ employees and their immediate family members (parents, grandparents, spouses, siblings and children) are not eligible to open Millionaire Destiny Savings Accounts.
- All individuals who open a Millionaire Destiny Savings Account and maintain a minimum average monthly balance of AED 5000 are eligible for the prize draw. Parents or legal guardians can open accounts for customers under the age of 18. Exclusive prizes for children under the age of 18 are offered as part of the prize draws
For the first AED 5,000 saved, the customer receives one chance. For every additional AED 1,000 saved beyond the initial AED 5,000, the customer earns an extra chance in the prize draws.
For example, a customer with an average monthly balance of AED 10,000 will receive six chances in the prize draw.
The Millionaire Destiny Savings Account is a Shari'ah approved savings account that offers all the standard features of an Islamic savings account with the addition of monthly prizes.
To view the Fatwa, please click here.
Profit is calculated on the minimum average monthly balance in the account in accordance with the Shari’ah approved profit distribution mechanism and paid on a quarterly basis.
To view the fees and charges, please click here.
No, the Millionaire Destiny Savings Account is offered to individual customers only. However, existing Retail Business customers can open the Millionaire Business Account instead, click here.
The main purpose of the Millionaire Destiny Savings Account is to encourage saving habits and earn rewards on savings hence salary transfers are not encouraged. However, customers can open the Elite Account for salary transfers.
Yes, they should be opened by the parent of legal guardian of the minor.
Profit distribution ratio between the Bank (as Mudarib) and depositors/account holders (as Rab Al Maal) shall be as follow
- 85% :Mudarib
- 15% :Rabb Al Maal
To know more, please visit adcbislamic.com/weightages.
