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Premium Saver Deposit

Premium Saver Deposit

Double your returns and double your bonus every six months.

Build up your savings through regular monthly deposits starting from AED 5,000 over a period of 18 months.

  • Earn up to 2.59% total return at the end of 18 months
  • Tenor – 18 Months
  • Low monthly savings amount starting from AED 5,000
  • Free standing order to fund your Premium Saver Deposit


Top Features

Earn up to 2.59% total return

High returns on average balances up to 2.59% at the end of 18 months (T&Cs apply).

Fixed tenor

Build up your savings through monthly deposits over a period of 18 months.

2X expected returns

Double your expected profits and double your bonus every six months

Low monthly savings amount

Deposits starting from AED 5,000 per month.

Why choose Islami Premium Saver Deposit?

  • With an attractive profit income and bonus at maturity, earn a total return of up to 2.59% at the end of 18 months (T&Cs apply).
  • Build up your savings through regular monthly deposits over a period of 18 months.
  • Choose your monthly deposit amounts starting from AED 5,000 per month.
  • Profit accrued on monthly basis and paid upon maturity.
  • Available in AED (dirhams) only.


What do I need to apply?

  • National ID or valid passport, residence visa and Emirates ID.
  • Completed deposit application form.


Who can apply?

  • If you are UAE National or UAE resident and minimum 18 years of age


Services that come with Premium Saver Deposit

  • Choose a way of banking that suits you, from Online and Mobile Banking, to SMS Banking. Of course, you are always welcome to visit us in one of our branches. Click here for locations
  • Budget and Track tool, a unique personal financial management tool that will help you track your expenses, set your budgets, save money for your life goals, and much more. Try Demo now



FAQs


Parameters Premium Saver
Currency AED
Minimum Monthly Amount (AED) 5,000
Tenure 18 Months
Return at maturity /End of the Tenure* 2.59%
Annualized Yield (if tenure completed)* 1.72%
Monthly contribution funding Standing Order set-up on Savings Account**

*Annualized profit is a backward computation of return at maturity over the product tenor. Total returns shown above are including monthly profit and bonus as applicable. Bonus profit paid at the maturity, subject to receiving regular monthly deposits.


** Standing Orders set for funding Recurring Deposits are free of charge

You can apply through nearest CBD branch. 

Minimum monthly deposit amount is AED 5,000.

Premium Saver deposit is available for 18 months monthly contributions.

You may get profit if deposit withdrawn after 6 months.

Sorry, topping up of existing deposit is not permitted. However, you can always open a new Premium Saver deposit.

If you are UAE National or UAE resident, at least 18 years of age, with a valid passport, residence visa and Emirates ID, then you can apply. 

Monthly pre-fixed amounts are transferred to the Premium Saver deposit account through a linked Standing Order instruction, which will be set-up on your current/savings account at the time of applying for Premium Saver deposit account. 

Please note that if the linked standing order fails to credit monthly pre-fixed amounts to deposit account, re-execution of such failed standing order is not permitted. Hence it is extremely important to ensure that you maintain sufficient balance in your current/savings account where standing order is set-up.

Bonus amount is accrued every six months; the bonus amount is equal to the total accrued profit during the last six months. The payment of bonus at maturity will be subject to successfully receiving pre-fixed monthly amounts through the linked Standing Order instruction across all 18 months. No bonus will be paid if on any month pre-fixed amount fails to get credited to Premium Saver deposit account or if the deposit is liquidated prior maturity.

You will be required to set up standing order at the time of applying for Premium Saver account.

Sorry, partial withdrawals are not permitted. 

Please contact customer service at 600 527223 to assist you with your query.

Premium Saver deposit is a monthly recurring deposit structured on Islamic concept of Wakala that that allows you to build up your savings by investing a pre - fixed amount starting from AED 5,000 every month through standing order, for a defined period of 18 months. With Premium Saver you will get attractive expected returns on your monthly deposits on Shariah complaint manners. In addition, you will also get a bonus at maturity. Your total returns, if you don't miss your monthly contributions, can reach approximately 2.59% on average balance over 18 months (T&Cs apply).