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Recurring Wakala Deposit

  • Monthly
    savings plan
  • AED 1,000
    Minimum monthly contribution
  • Open via
    DIB Branch
Apply Now
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For Fees & Charges, click here

For T&Cs, click here

For Key Fact Statement, click here

For Warnings, click here

For Shariah Certificate, click here

Savings for tomorrow

spotlight_wakala_recurring

The Recurring Wakala Deposit allows you to save a fixed amount on a monthly basis, for a pre-defined tenure of your preference, giving you the opportunity to focus on long-term plans for those who matter most.

higher-profits

Higher expected profits

With a fixed regular savings amount, you can expect higher profit rates than a conventional Savings Account. All you need to do is set up your monthly payments and wait for the maturity period.

Start with a minimum AED 1,000 deposit every month and we make your regular savings work harder. Apt for achieving short-term goals, you can focus on long term ambitions with more to take ahead on maturity.

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flexible-tenures

Flexible tenures

Choose from varying options of savings tenures that match your investment appetite and meet your financial needs.

We offer you the flexibility to invest for 12, 24, 36 and 60 months as per your requirements. You can extend or limit your savings tenures and give yourself the space to increase or control your maturity period.

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Easy to manage

Choose a fixed savings amount that you will invest monthly. Pick from our flexible tenures and leave the rest to us. It's that simple.

With a free standing instruction setup, all you have to do is sit back and wait for the earned profit and maturity. Peace of mind has never been this profitable.

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Expected Profit

Tenure-MonthsProfit Rate Per Annum
123.95%
243.70%
363.30%
603.05%

 

Profit Payment Scenarios

  1. You will need to decide on a goal amount & recurring installment amount at the time of booking the Wakala deposit Goal amount = Recurring installment * Tenure (No. of months)
  2. Full profit to be paid if goal is achieved at maturity
  3. Profit will vary in case the goal is not achieved at maturity as per below:
Goal Achieved (at the end of the tenure) % of Profit paid
100%100%
75% to < 100%80%
50% to < 75%65%
25% to < 50% 50%
<25%25%

 

Terms and conditions apply.

  1. Above profit rates are expected and based on past performance.
  2. The investment of the deposit is subject to Sharia principles applicable to investment under Wakala contract.
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