eSavings Offer eSavings Offer

E-Savings Account

Earn up to 4.50% p.a. expected profit exclusively online.

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Key Benefits

Exclusive offer icon Emirates Islamic
Exclusive 4.50% Offer

Now earn 4.50% p.a. expected profit with Emirates Islamic
e-Savings Account

convenience
Convenience

Enjoy unlimited online transfers and bill payments

profits
Profit Rates

1.50% p.a. expected profit rate across all slabs for three months on AED and USD for new customers

savings
Profits

Profits paid out quarterly

There are no limits to the transactions made on the account. Customers can easily deposit/withdraw funds without affecting their expected profit rate.
Click here to view the Key Facts Statement, Schedule of Charges and other important information for this product.
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Exclusive 4.50% Offer

Let your savings soar with the Emirates Islamic e-Savings Account

Now earn 4.50% p.a. expected profit with Emirates Islamic e-Savings Account. Simply deposit new funds into your e-Savings Account and start earning higher expected profit!

Key Features

  • Promotion is valid from 1 February to 30 April 2025
  • A minimum average balance increase of AED 50,000 and maximum average of AED 3,500,000 or equivalent in USD in your e-Savings Account along with ensuring your overall balance with the bank grows
  • eSavings Campaign is only applicable to individual customers. Non individual customers (Business Banking and Corporate banking) are not applicable
  • Earn 4.50% p.a. expected profit on new funds added during the promotion period, available on both AED and USD - Existing balance to receive expected profit as per e-Savings Account rates displayed under the Profit Calculation segment
  • Basis the eligibility, the incremental expected profits, if any, shall be credited to the customer’s e-Savings Account after the end of the promotion
  • E-Savings Account is a Shariah compliant Wakala-based profit-generating account

Features

  • Shariah compliant Wakala based profit bearing Account.
  • Earn up to 1.50% p.a. expected profit rate for AED Currency and USD Currency, as per the deposit slab.
  • Enjoy 1.50% p.a expected profit rate across all slabs for three months on AED and USD for new customers.
  • Account holders can enjoy a range of benefits, including online transfers and bill payments.

Eligibility

  • Quick and easy self-opening account with EI + Online Banking and Mobile Banking App
  • Convenience of online transfers
  • No limit on number of withdrawals
  • Available in AED and USD
  • Required Online Banking access
  • Available for Individuals
  • No minimum balance requirement

*Please refer to our FAQs.

Profit Calculation

  • Profit will be paid based on average balances
  • Profit is distributed on Calendar Quarterly basis
Deposit Range (AED) Expected Profit Rates for AED Deposits
% p.a.		 Expected Profit Rates for USD Deposits
% p.a.
From 5,000 to less than 50,000 0.50% 0.50%
From 50,000 to less than 3.5 Million 0.80% 0.80%
From 3.5 Million to less than 25 Million 1.25% 1.25%
From 25 Million and above 1.50% 1.50%

Account Opening

How to open your account?

For existing customers, e-Savings Account can be opened using any of the below channels:

Online Banking EI + Mobile Banking

Step 1: Log in on Online Banking with your existing User name and Password.

Step 2: Go to 'New Accounts' option.

Step 3: Select e-Savings as 'Product Type' and desired currency of e-Savings Account.

Step 4: Read terms and conditions carefully and submit the request.

Step 1: Log in to EI+ with your existing User Name and Password.

Step 2: Go to ‘Explore section’ from the bottom right corner.

Step 3: Select ‘Savings Account’.

Step 4: Swipe right to E-SAVINGS ACCOUNT page and click ‘NEXT’.

Step 5: Read the declaration and select ‘I DECLARE’.

Step 6: Choose Account Currency.

Step 7: Slide to Confirm .

Frequently Asked Questions

E-Savings Account is offered to Emirates Islamic customers via online banking. Customer can operate the account online and earn higher expected profit rates. The account is based on Shariah structure of Wakala.

It is offered in AED and USD.

One e-Savings Account per Currency.

No minimum balance requirement. Fall below fee is applicable on total customer relationship balance of AED 3,000.

No cheque book or ATM Card is issued. Transactions cannot be done through branches. Account can only be accessed through Online Banking.

Yes. If you are enrolled for the SMS Alert service.

Yes, we have. New account customer to the bank will get 1.50% p.a. expected profit rate across all slabs for the whole amount (capped at AED 25 million), for the first 3 months including the month of account opening.

Profit will be paid as per the Monthly Average Balances. Profit is distributed on Calendar Quarterly basis where calculation for expected profit rate is based on mentioned profit rate slab.

Average balance is the sum of your daily closing balances for a given month divided by number of days in a month.

Yes. You will be eligible to earn the expected profit regardless of number of debits/withdrawals in your e-Savings Account.

Customers require to have Bank NET ID for e-Savings Account. Existing customers with Bank NET ID can simply login and open their account.
New customers can open an Account with EIB and obtain Bank NET ID to open e-Savings Account.

Transactions on e-Savings Accounts can be made through online. You can use the existing payment options available online for payments. You can pay bills, transfer funds to your accounts or to other external accounts. You can request for TT/MC etc.

The limits would be the same as set by you for your online profile. You can change the transfer limit though online banking. Currently the maximum transfer limit allowed online are:

Transaction Type Amount (AED)
Utility Bill Payments (e.g. Etisalat) 15,000
Credit Card Transactions 50,000
Telegraphic Transfers 100,000
Transfer to Own Accounts 300,000
Account to Account Transfers 100,000
*In case of cross currency transactions, the overall maximum transferable amount is limited to USD 10,000 or equivalent (per Business Day).
Terms and Conditions apply.

  • Conventional Bank is a financial body which receives money from the depositors against fixed rate of interest and it offers liquidity to borrowers against interest. And it is governed by conventional banking laws.
  • Islamic Bank is a financial body which executes commercial contracts likes sale, leasing, construction and are governed by Islamic Banking laws which allow for financial bodies to carry on commercial activities for profitable purposes.

  • In Conventional Banking, Savings Account and Fixed Deposit (FD) are a special type of Savings Account that pays a predetermined interest over a predetermined period of time. The depositors from conventional banks receive Interest from their investments in the form of predetermined interest rates irrespective of bank’s performance.
  • In Islamic Banking, bank depositors receive their returns depending solely on the bank’s performance. Unlike Conventional Banks, an Islamic Bank acts as an intermediary between the depositor and the financee. As such, Islamic banks declare their profits on a monthly basis as part of their risk sharing scheme “Mudaraba Scheme”.

  • Interest is certain amount of return from specific sum of money invested over predetermined period of time. This is not permissible as per Shariah.
  • Profit is an undetermined return from specific sum of money invested over a predetermined period of time and it may vary from month to month, directly depending on how the bank performs. This is permissible as per Shariah.

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