Minimum balance
AED 3,000
DIB Johara Savings Account
DIB Johara Savings Account is the savings account in DIB's Johara ladies banking range. Mudaraba profit is paid quarterly if AED 1,000 stays in all month.
At a glance
Key facts
Monthly Fee
AED 26.25/month below AED 3,000
Minimum BalanceAED 3,000
Account TypeIslamic
Account access
Request the optional debit card when opening the account; the first card is complimentary.
The Johara Savings Account is the profit-earning account in Johara, DIB's ladies banking range. It follows the bank's standard savings terms. Money can go in and out whenever you like, the account is offered in dirhams and other currencies, and it can be opened for a minor with a parent's or guardian's consent. What you earn is profit shared under a Mudaraba contract: the bank invests your balance together with other depositors' money and divides what the pool makes. For everyday spending and cheques, the matching account is the Johara Current Account.
Fees and balance
Nothing is needed to open the account. The monthly fee of AED 26.25 applies only when your average balance for the month is below AED 3,000, and accounts opened for minors are outside the balance rule altogether. You also avoid the fee if this account is the one an Investment or Wakala Deposit is linked to, or the one you repay a DIB auto, personal or home finance from. Six teller transactions a month are free and each one after that costs AED 10.50. Closing the account less than 6 months after opening it costs AED 26.25.
Monthly fall-below fee
AED 26.25
How to avoid the monthly fee Meet any one of these conditions.
- Keep a balanceAverage monthly balance of AED 3,000 or more
- Other exemptionsAccounts opened for minors have no balance requirement. Not charged on the account that settles an active DIB finance, the account linked to an active Wakala or Investment Deposit, or for Aayan and Wajaha customers
Minimum opening amount
None
Account closure fee
AED 26.25
Charged only within 6 months of opening.
In plain words
- Fall-below fee
- A monthly charge for holding less than the balance the bank asks for. Here it is AED 26.25, charged in a month when your average balance for the month is under AED 3,000. The average is taken over every day of the month, so a few low days do not trigger the fee on their own. It is not charged in a month when you stay at or above that amount. More on this
- Account closure fee
- A one-off charge of AED 26.25 for closing the account within 6 months of opening it. Closing it later costs nothing. More on this
- Opening amount and minimum balance
- The opening amount (AED 0) is what you pay in to start the account. The minimum balance is what you keep in it afterwards. More on this
Profit
Profit is paid quarterly and calculated on the average monthly balance. No profit is calculated for a month if the minimum balance drops below AED 1,000 or more than 1 withdrawal is made in that month.
How your profit is worked out
Profit is announced by the bank each quarter and paid quarterly, based on your average monthly balance. You earn for a month only if the balance never goes under AED 1,000 during it and you withdraw no more than once, at a branch or electronically. Break either rule and that month is treated like a current account month, with no profit. No rate is promised in advance, because the amount depends on what the investment pool earned. DIB publishes the rates it declared in past quarters on its profit rates page.
Benefits
Multiple Currencies
Available in dirhams and other currencies.
Accounts for Minors
Can be opened for a minor with a parent's or guardian's consent.
Online Bill Payments
Pay telecom, utility, government and airline bills through online and mobile banking.
Shariah-compliant
Banking model
How to open
Before you apply
1.Request the optional debit card when opening the account; the first card is complimentary.
2.Minimum balance: AED 3,000.
Good to know
Good option for
Savers who can leave at least AED 1,000 untouched and rarely withdraw, including those saving in a foreign currency or for a child.
Consider another account if
You need to draw on your savings more than once a month, since the second withdrawal removes that month's profit.
Frequently asked questions
Get answers to common questions about the DIB Johara Savings Account