Islamic Mudarabah Saving Account
Islamic Mudarabah Saving Account is based on the Mudarabah concept which generates profit on customers average daily account balances. The most important difference between this account and conventional saving accounts is that the customers’ funds are invested in Shariah Compliant Islamic assets and customers benefit from the profit that these assets generate.
Features and Benefits of Islamic Mudarabah Saving Account include:
Approved by SAB’s Shariah Committee
A periodic statement is provided to record account transaction details
Availability of debit card with unlimited transactions anywhere in the world, and is available as a physical or virtual card
Account can be opened in all major currencies
Free access to your account at any time via SAB Mobile, SAB Phone (telephone banking) and SAB Online (internet banking)
To view the disclosure report, click here
Example: Expected monthly profits based on monthly average balance
Monthly Average Balance | AER | Period | Expected Profit Amount | Frequency of Profit payment |
SAR 50,000 |
0.10 | 1M | SAR 4.16 | Monthly |
Monthly Average Balance | AER | Period | Expected Profit Amount | Frequency of Profit payment |
SAR100,000 | 0.10 | 1M | SAR8.33 | Monthly |
Monthly Average Balance | AER | Period | Expected Profit Amount | Expected Maturity Amount |
SAR 250,000 | 0.10 | 1M | SAR20.83 | Monthly |
*AER : is an Annual Equivalent Rate, is a figure which shows what the profit rate on an account would be if profit was paid for a full year and compounded.
Minimum average required is SAR 5,000 or its equivalent
Policy terms and conditions apply
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