Deposits Upfront Profit Wakala Deposits

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Explore innovative and flexible Wakala deposit solutions through ADCB Islamic Banking

Enjoy upfront expected profit credit on day 1 when you open an Upfront Profit Wakala Deposit

1 Day
Expected Profit Paid
Upfront
3.10% Up to
Per Annum
Upfront Expected Profit Earned
36 Up to
Months
Maximum Deposit Tenor

Keep in mind

  • No Profit (0% profit rate) shall be paid if pre-maturely closed before 3 months of booking the Upfront Profit Wakala Deposit. Profit paid in advance will be recovered fully when redeemed from the linked account.
  • If pre-maturely closed after 3 months, 1% less than the corresponding tenor profit rate or 1% per annum less than the booking tenor expected profit rate, whichever is lower for which the deposit has stayed with the Bank will be applicable. The difference in the profit amount will be recovered from the linked account when redeemed.
  • Partial withdrawal of the deposit amount is not allowed.
  • Expected Profit is credited upfront into customer’s Current / Savings Account linked to Upfront Profit Wakala Deposit at the time of booking the deposit. 
  • Auto renewal of Upfront Profit Wakala Deposit (if opted) will be done at then prevailing profit rate and original tenor.

Features and Benefits

Fulfil evolving financial needs with a wide range of deposit tenors, starting from 3 to 36 months
Upfront expected profit earned on Day 1, on booking the Upfront Wakala Deposit
Available in UAE Dirhams and US Dollars
Minimum deposit amount is AED 25,000
Attractive expected profit rate
Up to 90% Finance Against Deposit of Wakala Deposit to meet any immediate needs

Expected Profit Rates

Earn attractive expected profit rates of up to 2.80% per annum on AED and up to 3.10% per annum on USD Upfront Profit Wakala Deposits. For further details, please refer below table.

Tenor AED
(Expected profit per annum)		 USD
(Expected profit per annum)
3 months 2.35% 2.60%
6 months 2.25% 2.65%
9 months 2.30% 2.60%
12 months 2.45% 2.70%
18 months 2.55% 2.90%
24 months 2.60% 2.95%
36 months 2.80% 3.10%

To apply for an Upfront Profit Wakala Deposit

Log in to the ADCB Mobile Banking App
Go to the "Islamic Deposit" section on the account summary and tap on "Open Now"
Select the Upfront Profit Wakala Deposit product and the desired account currency
Select product details, source account, deposit amount and tenor
Set maturity instructions as auto roll over or on maturity
Review all your selections and agree and confirm to all the mandatory fields to complete your application
Congratulations! You have successfully opened an Upfront Profit Wakala Deposit

Eligibility Criteria

Available for both UAE residents and non-residents
To open an Upfront Profit Wakala Deposit, you should first have an ADCB/ADCB Islamic Banking Current or Savings Account

Charges and Fees

Please refer to the Charges and Fees.

Terms and Conditions

Terms and Conditions apply.

To view the full Islamic Banking Consumer Terms and Conditions, please click here.

Shari’ah Certificates (Fatwa)

To view Shari’ah Certificates, please click here.

Other ways to apply

ADCB Mobile Banking App

Book your Upfront Profit Wakala Deposit instantly through the App. Download ADCB App

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