Existing account
You must first hold an ADCB or ADCB Islamic Banking Current or Savings Account.
ADCB Islamic Upfront Wakala Deposit
ADCB Islamic Upfront Wakala Deposit credits the expected profit on day one, at 2% to 2.8% a year for 3 to 36 months. The minimum is AED 25,000.
An existing account with ADCB is required, such as ADCB Islamic Current Account.
At a glance
Account access
No debit card included.
Open in the app.
An existing account with the bank is required.
The Upfront Profit Wakala Deposit pays first and locks afterwards. On the day you book it, ADCB Islamic Banking credits the expected profit for the whole term to your linked current or savings account. The amount you deposited then stays invested, under a Sharia-compliant agency contract, until the term ends. The minimum is AED 25,000, and terms run from 3 to 36 months. Residents and non-residents can open one if they already hold a current or savings account with ADCB. To receive profit as the term goes on instead, see the Monthly / Quarterly Profit Wakala Deposit.
Who can open it
Fees and balance
Minimum deposit
AED 25,000
Profit
Profit is paid upfront. No profit is paid if prematurely closed before 3 months and upfront profit is recovered in full. After 3 months, early redemption uses the lower of the corresponding actual-tenor profit rate minus 1% per annum and the booking-tenor profit rate minus 1% per annum. The difference is recovered from the linked account.
Available deposit tenures
| Tenure | Annual rate |
|---|---|
| 3 months | 2.35% |
| 6 months | 2.25% |
| 9 months | 2% |
| 12 months | 2.45% |
| 18 months | 2.55% |
| 24 months | 2.6% |
| 36 months | 2.8% |
| Tenure | Annual rate |
|---|---|
| 3 months | 2.35% |
| 6 months | 2.25% |
| 9 months | 2% |
| 12 months | 2.45% |
| 18 months | 2.55% |
| 24 months | 2.6% |
| 36 months | 2.8% |
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
- Paid upfront
- You receive the profit for the whole term on the day you place the deposit, not when the term ends. More on this
What your money earns here
Tenure
36 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 2,100
profit over 3 years
2.8%
a year
profit earned over time
Having the profit in advance means an early exit works in reverse. You cannot withdraw part of the deposit. An automatic renewal uses the original term and the rate on offer at that time.
Benefits
Expected Profit Paid on Day One
The expected profit is credited to the linked account when the deposit is booked.
Terms up to 36 Months
Seven terms from 3 to 36 months.
Two Currencies
Available in dirhams and US dollars.
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.Log in to the ADCB Mobile Banking App.
2.Open Accounts & Deposits, switch to Deposits and tap new deposit.
3.Select the Upfront Profit Wakala and apply.
4.Choose the source account, the amount and the term.
5.Set the maturity instruction and the account for the profit.
6.Review your selections and confirm.
Good to know
Good option for
Savers with AED 25,000 or more who want Sharia-compliant profit available immediately and will not need the deposit itself until maturity.
Consider another account if
You cannot be sure of leaving the deposit for the full term. Closing early means repaying some or all of the profit you were given.
Frequently asked questions
Get answers to common questions about the ADCB Islamic Upfront Wakala Deposit