Features & Benefits

Rate of Return up to 3.5%*

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Profit is calculated based on your daily average balance

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Profit credited to your account monthly

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Shariah compliant

Deposit and withdraw anytime with no fees

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No minimum balance requirement

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Servicing channels through Internet Banking, ATM, and branches

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

Make Trade Finance requests on the go

Jeddah Tahlia Branch
Riyadh Main Branch
AlMasif Riyadh Branch
Jeddah Main Branch
Khobar Main Branch
AlQuds Riyadh Branch
Madinah Main Branch
Makkah Main Branch

Required Documents

  • National ID (Ahwal) for Saudis
  • Residency ID (Iqama) for non-Saudis
  • 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 SAR 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 (SAR ) 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 SAR 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 SAR 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 (SAR ) 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 SAR 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.

Below is an example of how the profit calculation works:

Month 1 - Customer deposits SAR 11 Million.
Profit Rate for the year is 3.5%.
Customer will get SAR 11,000,000 x 3.5% = SAR 385,000 / year.
End of month credit to his account will be SAR 32,083/-.

Month 2 – Customer withdraws SAR 1 Million.
Balance in the Account is SAR 10,000,000.
Customer will get SAR 10,000,000 x 3.5% = SAR 350,000 / year.
End of month credit to his account will be SAR 29,166.66/-.

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