Pawan Singh / The National
Pawan Singh / The National

Accounts with incentives for young savers



ADIB Banoons children’s savings account

Benefits This account comes with a voluntary Islamic insurance policy up to Dh100,000 for a contribution of Dh1 a day. A Dh100 donation from ADIB will be made on behalf of your child to the Red Crescent Scholars Assistance programme. This account can be opened in foreign currencies as well as dirhams.

Watch out for You need a minimum balance of Dh5,000 to earn a profit. The maximum profit rate is 0.46 per cent for deposits above Dh20,000.

ADCB child saver account

Benefits This Islamic account can be opened in US dollars as well as dirhams. There is no monthly fee and no minimum balance required. TouchPoint rewards can be earned when the average monthly balance is Dh10,000 or above at a rate of 15 points for every Dh1,000 deposited. As your balance rises, so will the rate of accumulation.

Watch out for Profit is paid quarterly based on the declared profit.

First Gulf Bank child first savings account

Benefits You can win one year’s tuition fees up to a maximum Dh100,000. For every Dh5,000 added to the account, you get an entry to the draw. A minimum balance of Dh3,000 is required to open this conventional account, which has no monthly fee and a basic interest of 0.5 per cent on a Dh5,000 balance.

Watch out for This account can be opened in dirhams only

* The National staff