Flexi Deposit Account
Flexibility is part of the plan.
Plan ahead with Flexi Deposit (Investment Wakala), offering an expected profit rate of up to 5.50% p.a., with the flexibility to choose a profit payment schedule that works for you.
Expected Profit Rate
Up to 5.50%* p.a.
• Up to 5.50%* p.a. expected profit rate
• Profit payment frequency: Monthly, Quarterly, Semi-Annually, Annually or at Maturity
• Finance up to 70%* against the deposit amount
• Deposit tenure: 24 or 36 months
• Minimum deposit: AED 200,000 or USD 50,000
*Terms & conditions apply
Benefits:
Warning: 1- If you break the deposit before the original maturity date, you may lose the partial or full applicable profit on the deposit 2- If your deposit is linked with other finance(s) and you do not keep the payments on time then; the bank shall have the right, at any time and without permission from you, to liquidate any of your deposit account, to recover the finance liability, any installment(s) or any amount due towards the bank |
|---|
| Flexi Long Term Deposit Expected Rates (p.a) - AED & USD | |||||
|---|---|---|---|---|---|
| Tenor/ Profit Payment Frequency | Monthly | Quarterly | Semi Annual | Annual | At Maturity |
| 2 Years | 4.25% | 4.50% | 4.75% | 5.00% | 5.25% |
| 3 Years | 4.50% | 4.75% | 5.00% | 5.25% | 5.50% |
Premature Withdrawal - Profit Payout will be as follows:
| Premature Withdrawal - Profit Payout will be as follows: | ||
|---|---|---|
| a) Please refer to Sharjah Islamic Bank website: www.sib.ae/tariff to know more about the applicable fee | b) Agent (Bank) has the right to settle any finance facility availed against the Investment Wakala Deposit from the original/principal deposit amount | c) Agent (Bank) has the right to claw back/recover any advance profit amount paid to Principal (Customer) which becomes due as per para “a” above |
To apply
Required documents
- Original passport and Emirates ID Valid UAE residence visa for expats
Eligibility
- Applicants should be at least 21 years
- Minimum deposit amount AED 200,000 or USD 50,000
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