SAVINGS ACCOUNT
Earn while saving and secure your future.
Make your savings an insurance policy that actively works to safeguard your future. Our Mudaraba-based account offers you a valuable opportunity to earn profit on your precious savings.
A range of features for you to enjoy.
To apply
Terms & Charges
- View schedule of Fees and Charges
- View Bank General Terms & Conditions
- For full profit rate details applicable for your Finance, kindly contact the Bank
- Accounts Sharia Certificate
- View Raffle Draw Terms & Conditions
Eligibility criteria
- Applicants should be at least 18years of age.
- Minimum balance of AED 3,000.
Required documents
- Original passport and Emirates ID
- Valid UAE residence visa for expats
- Proof of Residence
- Proof of Income
Safety and convenience guaranteed.
Frequently Asked Questions
What do I need to open a savings account?
After you’ve submitted your online application form, you will be required to bring your original passport and UAE national ID card to your branch, along with a valid UAE residence visa if you’re an expat. You must be over 18 years of age to apply and have a minimum balance of AED 3,000 in your account.
When does the raffle draw campaign start?
The raffle draw campaign will commence from 1st July 2025 onwards and the first Raffle Draw will commence in August 2025
From when will the bank start calculating the minimum daily balance of AED 10,000 to determine draw entries?
The bank will begin calculating the daily minimum balance requirement starting from 1st July 2025.
To qualify for the raffle draw, your eligible savings account must maintain a daily minimum balance of AED 10,000 or more throughout the month, starting from that date. If your balance drops below AED 10,000 on any day within the month, you will lose all draw entries for that month
Who is eligible to participate in the draw?
All individuals holding any of the following Savings Account are eligible to participate in the draw:
a. Savings Account – 6003
b. Savings Account (Child) – 6004
c. Savings Account (Student) – 6005
d. Salaried Savings Account – 6007
e. Digital Account – 6009
How can I earn entries into the draw?
For every AED 10,000 maintained as a minimum daily balance in your savings account, you earn one (1) entry into the draw. For example, if your account maintains AED 30,000 minimum daily balance for the month, you get three (3) entries. If your account maintains AED 45,000 minimum daily balance for the month, you get three (4) entries
Earn Draw Entries:
• Maintain AED 10,000 or more in any eligible savings account(s) for the month to get 1 entry
• Every additional AED 10,000 = 1 extra entry
• Maximum of 1,000 entries per customer per month
What are the prizes and rewards offered?
• 04 Grand Prize – Seasonal Occasions of AED 2 million each (during special occasions like Eid or National Day etc.) Frequency of Grand Prize – Seasonal Occasions Draw will be decided by the Bank and announced accordingly.
• 04 Quarterly Grand Cash Prize of AED 2 Million (Quarterly: One prize of AED 01 Million for UAE Nationals & One prize of AED 01 Million for All Customers – Excluding months of Grand Prize of AED 2 Million)
• Monthly Luxury Car prize (excluding months with Grand Cash Prize) – 1 winner
• Monthly cash prizes of AED 5,000 each – 05 winners
• Monthly cash prizes of AED 1,000 each – 10 winners
• Monthly cash prizes of AED 500 each – 25 winners
• Profit earnings based on prevailing profit rates and payout frequency
How do I sign up for Online Banking?
All you need to do is visit the Online Banking page through www.sib.ae and register as a new user of a retail account. You should have your card or account number and verification code ready to create your user ID and complete the process.
How can we help you?
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