A Shariah-compliant agency agreement: you authorise the bank to invest your funds in Sharia-approved activities and earn profit, distinct from a Mudaraba partnership.
Monthly FeeNo monthly fee
Minimum SalaryNo minimum salary required
Minimum BalanceNo minimum balance required
Emirates Islamic e-Savings Account
An online-only Wakala savings account with tiered profit rates of up to 1.50% p.a. paid monthly, no monthly fee, and no minimum balance to maintain.
Benefits
Tiered Profit Structure
Earn up to 1.50% p.a., with higher tiers for larger deposits
Profit tiers scale with your deposit range, from entry-level balances up to large deposits, with the highest tier earning up to 1.50% p.a. USD deposits earn up to 1.50% p.a. across all tiers. Rates are reviewed periodically and may include time-limited promotional boosts on top of the standing structure.
Online-Only Banking
Unlimited online transfers and bill payments
Exclusively accessible via Online Banking or the EI+ mobile app for existing customers — fully digital, no branch visits.
AED & USD Flexibility
Choose your currency
Open the account in AED or USD to match your currency needs.
Shariah-compliant
Banking model
Profit rates
0.5%
AED 5k-50k
Wakala profit, AED deposits from AED 5,000 to under AED 50,000. Paid monthly.
0.8%
AED 50k-3.5M
Wakala profit, AED deposits from AED 50,000 to under AED 3.5 million. Paid monthly.
1.25%
AED 3.5M-25M
Wakala profit, AED deposits from AED 3.5 million to under AED 25 million. Paid monthly.
AED 25M+1.5%*
*Wakala profit, AED deposits of AED 25 million and above. Paid monthly.
All USD tiers1.5%*
*USD deposits earn up to 1.50% p.a. across all balance tiers. Paid monthly.
Fees
Free
Monthly fee
52.5AED
Balance certificate fee
26.25AED
Physical statement fee
Regular e-statements are free.
No liability certificate feeAED 63
Eligibility
UAE resident
Residency
Individuals only
For individual customers only
Existing Online Banking ID
Requires an existing Online Banking ID, or can be opened via the app
How to open
How to open an e-Savings Account
1.Log in to Online Banking with your existing username and password
2.Navigate to e-Savings Account opening
3.Select your preferred currency (AED or USD)
4.Complete the application online
5.Fund the account and start earning profit immediately
Frequently asked questions
Get answers to common questions about the Emirates Islamic e-Savings Account
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