Al-Tharwa account is an investment savings account where profits are calculated based on the average monthly credit balance, derived from the daily balance throughout the month.
- The Bank will invest 60% of the account balance while the other remaining portion of the balance will be treated according to the current account principles. the Client shall not be entitled to any profits on the non-invested balance.
- Minimum balance : KD 500 only.
- Available in Kuwaiti Dinars and other major currencies.
- Salary cannot be transferred to this account.
- There is no minimum balance charges.
- Profits are paid at the end of every quarter and are calculated on the average end-of-day balance for each month.
- Free ATM debit card.
- Free online banking.
- Valid Civil ID card.
- Profit is calculated based on the daily balance during the month.
- The Bank shall collect 40% of the net profit realized from the investment saving account in consideration of its share as a Mudareb partner
- If the account is closed, it will be marked as “Pending Profit Payout” and will be permanently closed once profits are distributed in the second quarter of account closure.
- The Client is entitled to request the closure of his account upon the Bank’s consent. In this case, the Client shall be entitled to the expected return agreed with the Bank, if realized, and shall bear his share of any realized loss calculated on the basis of the average balance of funds invested for the period.
For Terms and Conditions click here
Can I have a card for this account (debit/credit)?
Yes
Is the KD 500 blocked?
No