Saving account, is an investment saving account which is compliant with the Islamic Shari’a principles. This account can be opened by individuals, companies or institutions. It enables customers to set aside a portion of their liquid assets that could be used to make purchases while earning a monetary return.
Standard and VIP accounts can also be opened as a personal or corporate account.
- Standard Account Features and Returns:
- Free debit card.
- Low minimum balance requirement.
- Competitive profit rates
- Annual profit distribution.
- Local or international remittance facility.
- Standing order facility.
- Easy and quick access to funds.
- Free quarterly account statements.
- SMS notifications on account transactions.
- VIP Account Features and Returns:
- Free debit card.
- Low minimum balance requirement.
- Competitive profit rates
- Monthly profit distribution.
- Local or international remittance facility.
- Standing order facility.
- Easy and quick access to funds.
- Free monthly account statements.
- SMS notifications on account transactions.
- No account opening fees.
- The account can be opened for individuals and legal entities.
- Minimum age to open the account is 21 years.
- Minimum opening balance for Bahraini Dinar account will be BD 20.
- Minimum opening balance for other currencies will be equivalent to BD 20.
- Requirements for Personal Accounts:
- For Bahrainis:
- a) Original Identification (e.g. CPR or Passport)
- b) Proof of address (e.g. Driver's license or Utility Bill)
- For Non Bahrainis:
- a) CPR
- b) Passport with a valid residence permit
- c) Account statement or Salary Certificate.
- For Bahrainis:
- Requirements for Corporate Accounts
- Original CR.
- 2 original IDs from the following:
- a) CPR
- b) Passport
- c) 6 months financial statement.
- d) Article of associations (if applicable).
- e) Board of Resolution (if applicable).
- f) Registration Form.