Residency
UAE resident
ADCB Islamic Goal Savings Account
ADCB Islamic Goal Savings has an expected profit of 2% a year on scheduled savings, plus an expected 2.5% bonus if you reach your goal on time.
An existing account with ADCB is required, such as ADCB Islamic Current Account.
At a glance
Key facts
Monthly FeeFree to AED 100/month
Minimum SalaryNo minimum salary
Profit PayoutMonthly
Account access
No debit card included.
An existing account with the bank is required.
The ADCB Islamic Goal Savings Account helps you save toward something specific under Sharia principles. In the ADCB Mobile Banking App you name a goal, set a target amount and choose the date you want to reach it. A fixed contribution then moves automatically from your current or savings account on a schedule. The account has no debit card or cheque book and is held in your name alone. Part of the expected profit comes monthly and part comes only if you finish the plan. For savings without a schedule, the ADCB Islamic Active Saver is the flexible alternative.
Who can open it
Minimum salary
No minimum
Salary transfer
Not required
Existing account
You must already hold an ADCB or ADCB Islamic Current or Savings Account.
Sole ownership
Cannot be opened as a joint account.
Fees and balance
The goal account has no monthly charge of its own. One relationship fee covers you as an ADCB Islamic customer, and both your funding account and your goal savings belong to that relationship. It costs nothing when you hold AED 20,000 or more in total with the bank, when you receive a directly credited salary of AED 15,000 or more, or when a smaller salary is combined with a credit card or finance from ADCB Islamic Banking. In the remaining cases the fee is AED 25 a month where a smaller salary is transferred, and AED 100 a month where no condition is met. Closing between 30 days and six months after opening costs AED 105 and gives up the bonus.
Monthly fee
Free
Total relationship balance of AED 20,000 or more, a salary transfer of AED 15,000 or more, or a smaller salary transfer with an ADCB Islamic credit card or finance.
Monthly fee
AED 25
Salary transfer under AED 15,000 without an ADCB Islamic credit card or finance.
Monthly fee
AED 100
Every other Aspire customer.
Account closure fee
AED 105
Charged only within 6 months of opening. Waived within 30 days.
In plain words
- Fee levels
- The monthly fee has more than one level. The condition you meet decides which one applies, and you pay that one level only, never the levels added together. More on this
- Account closure fee
- A one-off charge of AED 105 for closing the account within 6 months of opening it. Closing it later costs nothing. Closing within the first 30 days carries no charge either. More on this
Profit
The account balance must not surpass AED 10 million. The goal achievement bonus requires meeting the agreed goal amount and goal achievement period; the standard rate is paid monthly.
How profit works
PayoutMonthly
Calculated onAverage monthly balance
- Expected
How profit works
PayoutOn the goal date
Calculated onEnd-of-day balance
Rate typeAdded to the base rate
- Expected on goal achievement
In plain words
- Profit rate
- An Islamic account does not pay interest. It pays you a share of what the bank earns on your money. The profit rate is that share as a yearly percentage of your balance. More on this
- Bonus rate
- A rate paid on top of the account's standard rate when you meet its condition. The two are added together for the profit you earn. More on this
- Paid on the goal date
- You set a date for your savings goal when you open the account. The profit is paid on that date. More on this
What your money earns here
Held for
1 year
Expected.
The amount and the rate stay the same for the whole period, and the profit is paid out, not added to the balance. Try other rates
AED 200
profit over 1 year
2%
a year
profit earned over time
The standard expected profit is paid on the first day of the next month. The bonus expected profit is worked out on your end-of-day balances over the whole goal period and paid on the final date. You receive it if you reach the goal amount you set, do not lower that amount, and keep the account open to the end. One missed contribution is forgiven if you pay it in before the goal date, but more than one loses the bonus. Withdrawals up to the value of one monthly contribution are allowed if returned before the goal date. The AED 10 million limit counts your Goal Savings balances, conventional and Islamic together.
Benefits
Scheduled Contributions
Automatic transfers move a set amount from your current or savings account.
Goal Achievement Bonus
An expected bonus of 2.5% a year is paid at the end of the goal period.
Goal Tracking in the App
Savings progress is tracked in the ADCB Mobile Banking App.
Shariah-compliant
Banking model
How to open
Before you apply
1.An existing account with the bank is required.
2.No minimum salary.
3.Salary transfer is not required.
4.No debit card included.
Application steps
1.Make sure you hold an ADCB Current or Savings Account to fund the goal.
2.Open the ADCB Mobile Banking App and select Goals.
3.Define your goal and set the target amount and achievement date.
4.Confirm the scheduled contribution and start saving.
Good to know
Good option for
Customers with a steady income saving toward a dated goal who want a Sharia-compliant account and expect to leave the money untouched.
Consider another account if
You may need to withdraw before the goal date or cannot commit to every contribution. Without the bonus, the return is the standard expected rate alone.
Frequently asked questions
Get answers to common questions about the ADCB Islamic Goal Savings Account