Standard Chartered Bank UAE - Saadiq Savings Account

Here are the exclusive features of a Saadiq Savings Account:

Shariah approved and certified savings account
No restrictions on withdrawals or deposits
No salary transfer requirement
No monthly account Maintenance Fee¹
Free international Debit Card², 24/7 phone banking and internet banking access

* The Saadiq Savings Account is based on the concept of 'Mudharaba'. Profit rates are calculated and declared on a monthly basis in retrospect.
¹The Saadiq Savings Account is subject to minimum relationship balance requirement and Fall Below Fees
²Fees applicable to certain uses of the Debit Card are found in the Service and Price Guide.

Earn attractive profit
Saadiq Savings Account works on the concept of 'Mudaraba'. The Bank places your funds in its pool of Shariah compliant assets. The profits from these Islamic assets are shared between you and the Bank. Profit is calculated on the average monthly balance maintained in your Account, hence the more you save, the higher profit you can earn. Profit is credited to your Account on a half-yearly basis.

Round-the-clock banking convenience
Enjoy the freedom of banking 24 hours a day, 7 days a week, from wherever you are in the world, along with the convenience of:

Free iBanking- Manage your Account anytime, anywhere in total security and confidentiality with our Internet banking service.
24-hour Phone Banking service.
Automated Teller Machines (ATM's) available at over 130 convenient locations.
Cash and Cheque Deposit Machines (CDM's) at select branches in the UAE.

Saadiq Profit Rates & Weightages June 2010 - July 2010

Click here to read about the details of the Shariah Supervisory Committee