Existing account
You need an active Current or Savings Account to link the deposit to.
ADCB Islamic Wakala Century Deposit
ADCB Islamic Wakala Century Deposit takes AED 5,000 or more for 50 to 500 days, with expected profit of 2% to 2.65% a year paid at maturity.
An existing account with ADCB is required, such as ADCB Islamic Current Account.
At a glance
Account access
No debit card included.
An existing account with the bank is required.
The Wakala Century Deposit is ADCB Islamic Banking's Sharia-compliant deposit with terms counted in days. You can place AED 5,000 or more, or the same value in US dollars, for 50, 75, 100, 150, 200, 375, 400 or 500 days. Like every Wakala product, it is an agency arrangement: the bank invests the money on your behalf and pays you the profit at the end. It is the low-entry member of the family. The main ADCB Islamic Wakala Deposit starts at AED 50,000. You need an active current or savings account to link it to.
Who can open it
Fees and balance
Minimum deposit
AED 5,000
Profit
Profit is paid at maturity. No profit if redeemed before 50 days. Later early redemption uses the lower of the actual-tenor profit rate minus 1% per annum and the booking-tenor profit rate minus 1% per annum, paid for the actual days held. Any excess profit already paid is recovered from the linked account.
Available deposit tenures
| Tenure | Annual rate |
|---|---|
| 50 days | 2% |
| 75 days | 2% |
| 100 days | 2% |
| 150 days | 2% |
| 200 days | 2% |
| 375 days | 2.65% |
| 400 days | 2.65% |
| 500 days | 2.65% |
| Tenure | Annual rate |
|---|---|
| 50 days | 2% |
| 75 days | 2% |
| 100 days | 2% |
| 150 days | 2% |
| 200 days | 2% |
| 375 days | 2.65% |
| 400 days | 2.65% |
| 500 days | 2.65% |
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 at maturity
- Maturity is the day the term you chose ends. The profit is paid then, together with the amount you deposited. More on this
What your money earns here
Tenure
500 days
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 363
profit over 500 days
2.65%
a year
profit earned over time
Going past a year is what lifts the rate. The rates are expected, so the profit is not guaranteed.
Benefits
Day-Count Terms
Eight terms measured in days, from 50 to 500.
Expected Profit at Maturity
Expected profit is paid with the deposit at the end of the term.
Shariah-compliant
Banking model
How to open
Before you apply
1.An existing account with the bank is required.
2.Minimum deposit: AED 5,000.
3.No debit card included.
Good to know
Good option for
Savers starting from AED 5,000 who want a Sharia-compliant deposit and can leave it for more than a year to reach the higher expected rate.
Consider another account if
You might need the money within 50 days, since nothing is earned before then. The ADCB Islamic Term Investment Deposit also starts at AED 5,000 with terms from one month.
Frequently asked questions
Get answers to common questions about the ADCB Islamic Wakala Century Deposit