Minimum age
18 years
CBD Al Islami GreenGrowth Account
CBD Al Islami GreenGrowth Account is a cardless Mudaraba savings account with no minimum balance. Expected profit of 0.5% to 1.25% a year, paid quarterly.
At a glance
Key facts
Monthly FeeNo monthly fee
Minimum BalanceNo minimum balance
Account TypeIslamic
Account access
No debit card included.
Offered to self-employed and salaried individuals. Salaried applicants need a minimum monthly salary of AED 5,000. Branch transactions are restricted.
Open in the app.
CBD Al Islami GreenGrowth Account, formerly E-saver, is a digital Islamic savings account in dirhams with no minimum balance and no maintenance charge. It is structured on Mudaraba, so your savings are invested alongside other depositors' money and you receive a share of the profit. It is meant for money that stays put. There is no debit card, branch transactions are restricted, and going past three debits in a month affects your return. You apply in the CBD mobile app with your Emirates ID. CBD also plants one mangrove tree for you when your quarterly average balance reaches AED 25,000. For Islamic savings you can spend from by card, see the CBD Al Islami Savings Account.
Who can open it
Residency
UAE resident or national
Salary transfer
Not required
Fees and balance
Minimum balance
None
Monthly fee
Free
Fall-below fee
Free
Profit
Profit is calculated on quarterly average balances and paid quarterly. No additional profit is paid if monthly debits exceed 3. The additional payment from shareholder equity is at the bank’s discretion.
How profit works
PayoutQuarterly
Calculated onQuarterly average balance
Eligible balanceFrom AED 5,000 · Up to AED 24,999
- Expected
How profit works
PayoutQuarterly
Calculated onQuarterly average balance
Eligible balanceFrom AED 25,000 · Up to AED 99,999
- Expected
How profit works
PayoutQuarterly
Calculated onQuarterly average balance
Eligible balanceFrom AED 100,000 · Up to AED 999,999
- Expected
How profit works
PayoutQuarterly
Calculated onQuarterly average balance
Eligible balanceFrom AED 1,000,000 · Up to AED 4,999,999
- Expected
How profit works
PayoutQuarterly
Calculated onQuarterly average balance
Eligible balanceFrom AED 5,000,000
- Expected
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
- Balance bands
- The rate changes with how much you hold. Each band is a range of balance with its own rate. More on this
- Which balance counts
- The return is worked out on your average balance across the quarter, so money held for only part of the quarter counts in proportion. 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 50
profit over 1 year
0.5%
a year on this balance
profit earned over time
Profit on this account arrives in two layers each calendar quarter. First comes the ordinary Mudaraba share, calculated on your quarterly average balance in the same way as other savings. Then the bank adds a further payment from its shareholders' equity. The rates are expected rates, so the final amount follows the actual performance of the pool.
Benefits
Quarterly Profit Payout
Profit calculated on your quarterly average balance and credited each calendar quarter
Mangrove Tree Planting
One mangrove tree planted for you when your quarterly average balance reaches AED 25,000
App Account Opening
Opened through the CBD mobile app with your Emirates ID
Shariah-compliant
Banking model
How to open
Before you apply
1.Offered to self-employed and salaried individuals. Salaried applicants need a minimum monthly salary of AED 5,000. Branch transactions are restricted.
2.Open in the app.
3.Salary transfer is not required.
4.No minimum balance.
5.No debit card included.
Application steps
1.Open the CBD mobile app.
2.Apply for the Al Islami GreenGrowth Account with your Emirates ID.
3.If you are salaried and opening the account for salary transfer, provide a salary transfer letter.
Good to know
Good option for
Sharia-compliant savings you add to and seldom draw on, with no minimum balance to maintain. Salaried applicants need a monthly salary of AED 5,000 or more.
Consider another account if
You make frequent transfers or payments from savings, or you want a card. Other Islamic accounts allow freer access.
Balances under AED 5,000
The expected profit bands start at a quarterly average balance of AED 5,000. You can hold less without any charge, since the account has no minimum balance, but the listed expected rates begin at that level.
Frequently asked questions
Get answers to common questions about the CBD Al Islami GreenGrowth Account