SABB’s Waafer Account is an innovative Shariah compliant to start your savings plan.
This account will offer SABB’s customers the option to save on a monthly basis based on their life stage requirements and savings needs.
At the end of the agreed term, the amount payable upon maturity will be the sum of the customer’s invested capital along with the accumulated profit.
Features and Benefits of SABB's Waafer Account include:
- Shariah compliant product
- Competitive returns on short to medium term savings
- Minimum saving amount of SAR 100 for minors, SAR 500 for adults
- Saving is available in SAR.
- Flexible saving periods of 12, 24 and 36 months.
- Can only be opened through SABBNET
- Zero charge to open Waafer Account
- You can open multiple Waafer accounts.
- The selected deposit amount and the monthly profit of each month will be added to the next month balance.
Example: of 12 Months subscription in (Waafer) Account:
Expected Profit Amount
Expected Maturity Amount
*AER : is an Annual Equivalent Rate, is a figure which shows what the profit rate on an account would be if profit was paid for a full year and compounded.
*AER may differ depending on the amount and the period different form the above example.