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Amplify your savings Amplify your savings
People, Person, Adult
  1. Deposits
  2. Saadiq Wakalah Fixed Deposit

Amplify your savings

Open a Saadiq Wakalah Fixed Deposit Account and support your financial dreams

Save more to do more with Standard Chartered

  • Earn
    Attractive returns

    on your savings

  • Start with
    AED 25,000

    only

  • Choose
    1 to 36 months

    tenure

  • Option to
    renew

    upon maturity

Features

Flexible tenure

Choose from a minimum tenure of 1 month to a maximum of 36 months. T&Cs apply.

Convenient Banking

Free, 24-hour banking. Online banking and mobile banking allows you to manage your money and complete transactions anywhere in the world, anytime.

Application Eligibility

  • Minimum 18 years old

Documents Required

  • Passport
  • Emirates ID
  • Resident Visa

Application Eligibility

  • Minimum 18 years old

Documents Required

  • Passport
  • Bank Statements
  • Proof of Address

The concept of Wakalah (Agency) is used to offer this product. Saadiq Wakalah Fixed Deposit Account is based on the product structure of Wakalah (Agency). Wakalah means an act of one person (Muwakkil) who appoints another party (Wakil) as one’s representative to handle one’s affairs.

The client provides funds to the bank and the funds are then invested by the Bank as the Client’s Wakeel (Agent) in Islamic assets. The anticipated profit rate agreed upon with the Client, and any return which is generated above the agreed rate is the Bank’s income.

Yes, Saadiq Wakalah Fixed Deposit Account is approved by the Standard Chartered UAE Internal Shariah Supervision Committee.

The Bank does not guarantee the profit rate, but the Bank will provide the anticipated profit rate to the Client.

The minimum amount is AED 25,000 or equivalent to invest in the Saadiq Wakalah Fixed Deposit Account.

There are four available currencies; USD, EUR, GBP, and AED.

No penalty will be charged for early upliftment.

On early withdrawal, Client will receive up to the anticipated profit rate for the number of days that the deposit was held.

  • Minimum Deposit Amount is AED 25,000 or equivalent in foreign currency
  • Minimum tenor is 1 year, and Maximum tenor is 3 years.
  • On early withdrawal the Client will receive up to the anticipated profit rate for the number of days that the deposit was held. The profit calculation is subject to the Wakalah Terms. However, this is subject to a minimum deposit period of 30 days. For withdrawals made before 30 days have elapsed, no profit will be payable and only the principal will be returned.
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Disclaimer

This is to inform that by clicking on the hyperlink, you will be leaving sc.com/ae and entering a website operated by other parties.

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting sc.com/ae

 

Proceed to third party website