Existing account
You need an active Current or Savings Account to link the deposit to.
ADCB Monthly / Quarterly Profit Wakala Deposit
ADCB Monthly / Quarterly Profit Wakala Deposit pays expected profit of 2% to 2.6% a year at regular intervals on AED 25,000 or more, for 3 to 18 months.
An existing account with ADCB is required, such as ADCB Islamic Current Account.
At a glance
Key facts
Minimum DepositAED 25,000
TenuresFlexible
Profit PayoutMonthly or quarterly
Account access
No debit card included.
Open in the app.
An existing account with the bank is required.
This Wakala deposit is designed to pay you along the way. You place AED 25,000 or more with ADCB Islamic Banking for a fixed term, the bank invests it as your agent under Sharia principles, and the profit is paid into your linked current or savings account every month or every quarter, whichever you choose at booking. Your deposit comes back at the end of the term. Terms run from 3 to 18 months. If you do not need the payments and would rather receive everything at the end, compare the ADCB Islamic Wakala Deposit.
Who can open it
Fees and balance
Minimum deposit
AED 25,000
Profit
Profit is paid monthly or quarterly. No profit is paid if closed within 3 months; profit already paid is recovered in full. After 3 months the actual-tenor rate is reduced by 1% per annum for the actual days held, and the difference is recovered from the linked account.
Available deposit tenures
| Tenure | Annual rate |
|---|---|
| 3 months | 2.4% |
| 6 months | 2.3% |
| 9 months | 2% |
| 12 months | 2.5% |
| 18 months | 2.6% |
| Tenure | Annual rate |
|---|---|
| 3 months | 2.4% |
| 6 months | 2.3% |
| 9 months | 2% |
| 12 months | 2.5% |
| 18 months | 2.6% |
Expected annual profit rates
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
- Wakala
- A contract in which you appoint the bank as your agent to invest your money on your behalf. More on this
- Tenure
- The length of time you agree to leave the deposit in place. You choose it when you open the deposit, and the rate you get depends on the tenure you pick. More on this
What your money earns here
Tenure
18 months
Uses the expected profit rates. 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 975
profit over 18 months
2.6%
a year
profit earned over time
Because profit is paid before the term is complete, ending early means a recalculation. Payments reach you only while the linked account stays open.
Benefits
Monthly or Quarterly Profit
Profit is paid into your linked account every month or every quarter.
Three Currencies
Available in dirhams, US dollars and British pounds.
Shariah-compliant
Banking model
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.Open in the app.
2.An existing account with the bank is required.
3.Minimum deposit: AED 25,000.
4.No debit card included.
Application steps
1.Make sure you hold an active Current or Savings Account.
2.Open the ADCB Mobile Banking App, or SMS WD to 2626 from your registered mobile number.
3.Choose the amount, from AED 25,000, and a term from 3 to 18 months.
4.Pick monthly or quarterly profit payments and the account to receive them.
Good to know
Good option for
People who want a regular Sharia-compliant payment from a lump sum, for example toward home finance instalments or living costs.
Consider another account if
You might close the deposit in its first 3 months. Every payment received would be taken back.
Frequently asked questions
Get answers to common questions about the ADCB Monthly / Quarterly Profit Wakala Deposit