Earn expected returns up to 4.25%* annually

1
Open your account by visiting the nearest branch or submit the form and we will call you back
2
Deposit your savings into the Mudarabah Savings Account
3
Enjoy high expected returns and grow your savings

* Terms and conditions apply.
Click here to see Mudarabah Tiered Saving Account Profit Rates ceiling.

PromoCardWithHighlights Benefits of Mudarabah Savings Account

Benefits of Mudarabah Savings Account

AED 5 Million

Up to 4.25*% expected returns

AED 1 Million

Free mada debit card

AED 100000

Shariah Compliant

AED 10000

Monthly profit payment

AED 5000

No minimum balance required

AED 2000

Deposit and withdraw anytime with no fees

*Terms and conditions apply.

Requirements and documents

Minimum salary required

National ID (Ahwal) for Saudis

Interest rate

Residency ID (Iqama) for non-Saudis

Annual fees

Filling the Account Opening Form

Frequently Asked Questions

The Islamic Savings Account is a Profit paying Sharia Compliant Savings Account product managed under the Islamic principle of “Mudarabah”. Under the concept, the depositor is eligible for a profit pay out. You are issued a free Debit Card, which can be used at all ATMs in the Kingdom (issued in currency only). A statement is issued to customers based on their choice in the account opening form.

The Mudarabah savings account is a Saudi Riyal () account with attractive profit rates which comes with a free international debit card, has 24-hour access to the account via ATM, online and mobile banking. Moreover, you have an access to the Emirates NBD branch network.

Any resident individual, including minors (opened and operated by his/her guardian) can open a Savings Account.

No, a company is not eligible to open this Account. Companies are permitted to open a Current Account or a Business Finance company account.

A Mudarabah Savings account is available for the following Individuals:

  • Saudi Resident Individuals including joint account holders.
  • Expatriate Individuals residing in Saudi Arabia including joint account holders.
  • Minor’s accounts to be opened and operated by the guardian.

Yes, a Minor’s accounts can be opened and operated by the guardian. For further details, please contact Emirates NBD on 800 754 7777.

Savings Accounts are available only in currency.

Account statements are issued on a monthly basis.

The depositor’s funds in the savings account are contributed into the Mudarabah pool. The profit rate payable will be worked out by executing the Profit Distribution Module (PDM) on a monthly basis and credited into the account at the end of every month.

No, cheque books are not issued on Savings Accounts.

There is no minimum average monthly balance for the Mudarabah Savings Account.

Yes. You can deposit money into the account and withdraw money from the account anytime.

The Islamic Savings Account is a Profit paying Sharia Compliant Savings Account product managed under the Islamic principle of “Mudarabah”. Under the concept, the depositor is eligible for a profit pay out. You are issued a free Debit Card, which can be used at all ATMs in the Kingdom (issued in currency only). A statement is issued to customers based on their choice in the account opening form.

The Mudarabah savings account is a Saudi Riyal () account with attractive profit rates which comes with a free international debit card, has 24-hour access to the account via ATM, online and mobile banking. Moreover, you have an access to the Emirates NBD branch network.

Any resident individual, including minors (opened and operated by his/her guardian) can open a Savings Account.

No, a company is not eligible to open this Account. Companies are permitted to open a Current Account or a Business Finance company account.

A Mudarabah Savings account is available for the following Individuals:

  • Saudi Resident Individuals including joint account holders.
  • Expatriate Individuals residing in Saudi Arabia including joint account holders.
  • Minor’s accounts to be opened and operated by the guardian.

Yes, a Minor’s accounts can be opened and operated by the guardian. For further details, please contact Emirates NBD on 800 754 7777.

Savings Accounts are available only in currency.

Account statements are issued on a monthly basis.

The depositor’s funds in the savings account are contributed into the Mudarabah pool. The profit rate payable will be worked out by executing the Profit Distribution Module (PDM) on a monthly basis and credited into the account at the end of every month.

No, cheque books are not issued on Savings Accounts.

There is no minimum average monthly balance for the Mudarabah Savings Account.

Yes. You can deposit money into the account and withdraw money from the account anytime.

No. there are no fees if you withdraw money from the account.

Profit Rates:

Daily Balance Tier AER % Profit Calculation Profit Payment # of Withdrawals permitted per Month
From 0.1 to 249,999.99 3.00% Daily Monthly Unlimited
From 250,000.00 to 9,999,999.99 4.25%
From 10,000,000.00+ (upwards) 3.75%

Monthly Profit Payable:

Daily Balance Tier AER % Daily Balance Profit Payable
From 0 to 249,999.99 3.00% 50,000.00 129.17
From 250,000.00 to 9,999,999.99 4.25% 500,000.00 1,829.86
From 10,000,000.00+ (upwards) 3.75% 15,000,000.00 48,437.50
Assuming 31 days in the month and daily balance remains same on each day of the month

Profit calculation formula:

(Daily Balance) x (Profit Rate %) x (Number of days in a month/360)

AER: Annual Equivalent Rate, is a figure which shows what the profit rate on an account would be if profit was paid for a full year.

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Branch of Emirates NBD Bank, Commercial Registration No. 1010191741- CR Unified Number 7001460414 P.O. Box 8166, Telephone: 011 282 5555. National Address: 8152, King Fahd Road, Al Muhammadiyah District, Unit 1, Riyadh 12363-4380 Certified with the Certificate number 1/150. The bank is licensed and regulated by SAMA.

Emirates NBD