Individuals & joint accounts
Open to individuals, joint account holders, and minors (opened by a guardian)
Emirates Islamic Kunooz Millionaire Account
A Shariah-compliant savings account that pairs a small quarterly profit with prize draws, including a monthly AED 1 million draw and weekly cash prizes.
At a glance
Key facts
Monthly Fee
AED 26.25/month below AED 3,000
Annual Rate
0.1% profit
Minimum BalanceAED 3,000
The Emirates Islamic Kunooz Millionaire Account is a savings account built around prize draws. The balance you keep earns entries into weekly and monthly cash draws, with a daily draw for youth and minor accounts. It also pays a small profit on a Mudaraba basis, where the bank invests your money and shares the profit with you.
The account comes with a debit card. Adults can open one, and a guardian can open one for a minor. If a steadier return matters more to you than a chance of a prize, the Investment Savings Account carries a higher expected profit rate.
Who can open it
Prize terms apply
Prize eligibility is subject to terms and conditions, which may change
Fees and balance
The account has a minimum balance of AED 3,000, measured as your average across the month. In a month below that, Emirates Islamic charges AED 26.25. The charge does not apply to accounts held for minors, to customers whose salary is paid to the bank, or while you hold an active finance from the bank.
A balance under AED 5,000 earns no entry into the monthly draw, so the amount that avoids the fee is lower than the amount that enters you for the main prize. Closing within 6 months of opening costs AED 105.
Minimum balance
AED 3,000
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
- Minor accountThe account is held by a minor
- Transfer your salaryYour salary is transferred to this account
- Hold active financeYou hold an active finance with Emirates Islamic
- Salary transfer packageYou meet your salary transfer package's criteria
Account closure within 6 months of opening
AED 105
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
Profit
How profit works
PayoutQuarterly
Eligible balanceFrom AED 5,000
- Prize draw eligibility is the account's primary benefit.
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
What your money earns here
Held for
1 year
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 10
profit over 1 year
0.1%
a year
profit earned over time
Draw entries follow your balance. Every AED 5,000 saved gives one entry into the monthly draw for AED 1,000,000, and every AED 1,000 saved gives one entry into the weekly draw for AED 50,000. Account holders who are youths or minors get one entry into a daily AED 1,000 draw for every AED 500 saved. Draws are held in the first two weeks of the following month, and prizes are credited within 2 months of the draw.
Separately, the account carries an expected profit rate of 0.1% a year, worked out on the lowest balance held in the month and paid quarterly. To qualify for profit you need an average monthly balance of AED 5,000 or more.
Benefits
Grand Monthly Prize Draw
Regular prize draws, including a chance to win AED 1,000,000 every month
Weekly Cash Prize
A chance to win AED 50,000 every week
Daily Prize for Youth Accounts
Daily cash prize draws for youth and minor account holders
Quarterly Profit Payout
Earn a quarterly indicative profit alongside your prize entries
Free Debit Card
Complimentary internationally recognised debit card
Shariah-compliant
Banking model
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.Open in the app.
2.Minimum balance: AED 3,000.
3.Debit card included.
Application steps
1.Existing customers: log in to EI+ Online Banking
2.Select Kunooz Millionaire Account from account opening options
3.Complete the application form online
4.Fund the account with a minimum of AED 3,000
5.Activate the account to start earning profit and prize entries
6.New customers: submit an online application and upload the required documents
Good to know
Good option for
Savers who like the idea of prize draws, can keep AED 5,000 or more in the account, and want a Shariah-compliant product with card access.
Consider another account if
You are saving for the return. The expected profit rate here is the lowest of the Emirates Islamic savings accounts listed on this site, and the e-Savings Account pays profit monthly.
Frequently asked questions
Get answers to common questions about the Emirates Islamic Kunooz Millionaire Account
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