Explore the benefits of Islamic Banking with RAKBANK's Amal Term Investment Deposit. Dive into steady, halal returns. Learn more at RAKislamic from RAKBANK.


Know About Islamic Term Investment Deposits | RAKislamic

Term Investment Deposit

A Sharia-compliant term investment deposit

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Term Investment Deposit - Benefit card - Automatic new facility

Automatic new facility

Account purpose: Savings

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Expected profit rate up to 0.60%

Maximum profit rate of 0.60%

Tenor offered

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<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Account with 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the profit rates for the Account with 30 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless activated again.</li>
</ul>

Key Terms and Conditions

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Term Investment Deposit - Complimentary takaful cover

You will automatically receive free takaful cover, equivalent to the value of your deposit*.
 
No extra contribution, no medical tests or additional documentation is required.
 
Additionally, an easy payout feature means that you get this exceptional benefit completely hassle-free.
 
*maximum

Complimentary takaful cover

Question 1

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Branches & ATMs

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Term Insventment - Eligibility

Eligibility

Term Investment Deposit - Flexible tenures

Flexible tenures

<ul>
<li>Must hold a RAKislamic transactional account for the purpose of funding deposit and receiving expected profit returns at maturity</li>
</ul>

Term Investment - Other Requirements

Travel

Term Investment  - Terms and Conditions

Terms and Conditions

Available in AED & USD

Term Investment Eligibility

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Key Fact Statement

Service and Price Guide

Term Investment - Relevant links

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Islamic

AED 50,000-above

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Benefits

 Get more from your Deposit Account

Personal - Apply From RakMobile

Download the RAKBANK app and apply instantly

Not a RAKBANK customer?

No min salary/income required

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Term Investment - Terms and Conditions

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Question 5

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Min age 18 years old

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Term Investment Deposits are available in flexible tenures for your convenience.
What&rsquo;s more is that all this is available in a choice of AED, USD, GBP or EUR Accounts, giving you complete flexibility on your investment.

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<ul>
<li>Foreign currency exchange rates are used for computing minimum balance as well as minimum balance charges. Applicable mounts in foreign currency may vary based on the exchange rate variation from month to month.</li>
<li style="font-weight: 400;" aria-level="1">Until the maturity date, the deposit amount cannot be accessed by the customer or customer has to redeem the deposit to utilise the same. </li>
<li style="font-weight: 400;" aria-level="1">The Bank may close the Account if KYC or identification documents are not updated regularly, or if required as internal policies, or upon request from regulatory / judiciary entities.</li>
</ul>

Warnings

You are required to:
<ul>
<li style="font-weight: 400;" aria-level="1">Review this document and all other terms &amp; conditions set out in the application form in detail;</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website (www.rakbank.ae) for updates;</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form; and</li>
<li style="font-weight: 400;" aria-level="1">Always safeguard sensitive banking details such as Account number, chequebook, Debit Card, login ID, passwords, PIN, etc.</li>
</ul>

Customer Rights and Obligations

Term Investment Terms and Conditions Notification

Question 4

Question 3

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<ul>
<li>Available to UAE resident and non-resident individuals and business customers</li>
</ul>

Term Investment - Residency

Term Investment Deposits - Call me back option

Submit your details and we’ll be in touch soon

Call me back

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Term Investment - Help Card

AED 5,000-19,999

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AED 20,000-49,999

Question 2

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No withdrawal restrictions

Make life easier with our automatic new facility option.
This means we will automatically start the Term Deposit again for the same fixed period at maturity.

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Question 6

Possibility to make transactions at branch

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FAQ Accordion Items

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Account Features

The RAKislamic Term Investment Deposit is based on the Islamic principle of &lsquo;Mudaraba&rsquo;.
This means you can earn profit on your deposits with the profit being declared and credited on a quarterly basis.

Earn profits and save

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<ul>
<li style="font-weight: 400;" aria-level="1">Minimum amount for opening the RAKislamic Term investment Deposit is AED 25K</li>
<li style="font-weight: 400;" aria-level="1">In order to place RAKislamic Term Investment Deposit, customers must have an active transactional account.</li>
<li style="font-weight: 400;" aria-level="1">No profit is paid out for the deposit placed with the Bank in less than 1 month.</li>
</ul>

Risks and Limitations 

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Eligibility 

You’re just a few minutes away from your account!

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Not sure about something? Check our frequently asked questions to find what you’re looking for.

FAQ’s Help Card - Islamic

FAQs

Our Sharia-compliant Term Investment Deposit is based on the Islamic principle of &lsquo;Mudaraba&rsquo; which means you can earn profit on your deposits.
The profit is declared and credited on a quarterly basis.
This not only helps you grow your savings quickly, but also does it with safety and convenience that guarantees your peace of mind.

Term Investment Deposit - Benefit Card Item - Earn profit and save

Earn profit and save

Term Investment - FAQ's

Term Investment Deposit - Available for business and individuals

The RAKislamic Term Investment Deposit Account is available for individuals and business entities. 
Whether you’re growing your own net worth or your organisation’s, this is the ideal Deposit Account that will do wonders to your balance.

Available for business and individuals

For UAE residents & non-residents

Offered to both residents and non-residents

Term Investment - Safe and secure banking

Stay on top of your Term Investment Deposit easily, securely and conveniently anytime, even when you're on the go through the following channels:
 
Digital Banking - through our website or via the RAKBANK Business App
 
RAKdirect - call 600 54 0044 for our 24/7 Phone Banking service
 
SMS alerts - get instant notifications through your registered mobile phone number

Safe, easy and convenient

Safe and secure banking

<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>

Visit A Branch

A specialist will be able to assist you with the process

Visit a branch

Term Investment Deposit - Benefit card - Earn profit and save

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Discover the Rakbank App and enjoy digital banking designed to fit your day. Manage your accounts, make secure transactions, and access smart features all in one simple, easy-to-use app

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Account Features

Earn profits and save

Benefits

Get more from your Deposit Account

Flexible tenures

Earn profit and save

Automatic new facility

Eligibility

You’re just a few minutes away from your account!

Relevant links

We’re here to help

Bank on the go, anytime, anywhere