Last Updated on 23 May 2023
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RAKBANK Amal Jood Savings Account

This product is invalid by the Bank
Amal Jood Savings Account
Features
- This is an Islamic account by nature.
- There is no monthly fees on this account.
- This account can only be opened in AED
- You require a minimum balance of AED 3000 to open this account.
- The profit rates for this account, will be credited quarterly based on the profit rate prevailing in that particular quarter.
Main Benefits
- This account is based on the principles of mudaraba.
- Get a free debit card, along with your account.
- Free online SMS banking along with phone and mobile banking.
- Avail free EDM Cash and cheque deposits.
- Avail online banking and e statements of your account, with Jood savings account.
- Free RAKDIRECT and mobile banking facilities.
Frequently Asked Questions
⭐ What is a Jood Savings Account?
A. The Jood Savings Account is a profit bearing savings account that is managed under the Islamic principle of “Mudaraba”.
⭐ Is Jood Savings Account Sharia compliant?
A. Yes, Jood Savings Account is a Sharia Compliant Savings account.
⭐ Do we get any Debit card on opening Jood Savings Account?
A. Yes. You receive a free debit card with this account.
⭐ Who can open a Jood Savings account?
A. UAE resident & non-resident individuals can open a Jood Savings account.
⭐ Can a company open this account?
A. No. A company can not open this Account.
⭐ In which Jood Savings Account is available to open?
A. Jood Savings Account is available in AED currency.
⭐ When do we get statements from the Jood Savings Account?
A. We can receive account statements on a quarterly basis.
⭐ What is the minimum balance required to maintain a monthly balance of Jood Savings account?
A. AED 3,000 is required as a minimum balance to be maintained in this account.
⭐ Is there any charge if I don’t maintain the minimum balance of Jood Savings account?
A. Yes. A inactivity fee will be charged if you don’t maintain this account.
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