Minimum age
18 years
CBD Al Islami Bonus Booster Deposit
CBD Al Islami Bonus Booster Deposit is a 36-month Wakala savings plan from AED 1,000 a month, with 1% a year expected profit and a bonus at maturity.
At a glance
Key facts
Monthly ContributionAED 1,000
Tenures36 months
Profit PayoutAt maturity
Account access
See opening stepsCBD Al Islami Bonus Booster Deposit is a Sharia-compliant way to save a set amount every month for 36 months. You choose a monthly figure of AED 1,000 or more and it is collected by standing order. The plan is built on Wakala, so the bank invests your contributions as your agent alongside other depositors' funds, for a fee. If every contribution arrives, you receive a bonus at maturity equal to one monthly deposit, on top of the expected profit. Everything is paid at the end, and the plan runs in dirhams only. You cannot top it up, withdraw part of it, renew it automatically, or use it as security for finance. For an 18-month plan with larger payments, see the CBD Al Islami Premium Saver Deposit.
Who can open it
Residency
UAE resident or national
Fees and balance
Minimum monthly contribution
AED 1,000
Profit
Profit is paid at maturity. Expected total return of 8.25% at maturity after 36 months, including a bonus equal to the fixed monthly deposit. Early liquidation pays no profit and no bonus. A missed monthly contribution loses the maturity bonus. No top-ups. Principal is not guaranteed.
Available deposit tenures
| Tenure | Annual rate |
|---|---|
| 36 months | 1% |
| Tenure | Annual rate |
|---|---|
| 36 months | 1% |
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
- 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
How your profit is worked out
Two things make up the return. Expected profit of 1% a year accrues each month once that month's contribution has been received. The bonus, equal to your fixed monthly deposit, is added at maturity. The total expected return shown in the rate section combines both over the 36 months, measured against your average balance, so it is much larger than the yearly profit rate and should not be read as an annual figure. The conditions are strict. Miss one monthly contribution and the bonus is gone, though profit continues to accrue on the months you did pay. Close the plan before maturity and you receive no profit and no bonus. Under Wakala the returns are expected, paid up to the anticipated rate, and the principal is not guaranteed.
Benefits
Maturity Bonus
Bonus equal to one monthly deposit when all 36 contributions are received
Monthly Profit Accrual
Expected profit of 1% a year accrues as each monthly deposit is received
Shariah-compliant
Banking model
How to open
Application steps
1.Check you are a UAE national or UAE resident aged 18 or above.
2.Complete the application form and provide your national ID or valid passport, residence visa and Emirates ID.
3.Fix your monthly deposit, from AED 1,000.
4.Set up the standing order that pays the deposit each month.
Good to know
Good option for
Savers who want a Sharia-compliant plan with a modest monthly amount and are confident of 36 uninterrupted payments.
Consider another account if
You may need to stop early. Closing the plan before maturity pays no profit and no bonus. The CBD Al Islami Savings Account shares profit quarterly without a lock-in.
Frequently asked questions
Get answers to common questions about the CBD Al Islami Bonus Booster Deposit