Islamic Mudarabah Account

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SABB’s Islamic Mudarabah Saving Account is based on the Mudarabah concept which generates profit on customers average daily account balances. The most important difference between this account and traditional saving accounts is that the customers’ funds are invested in Shariah Compliant Islamic assets.

Features and Benefits of SABB’s Islamic Mudarabah Saving Account include:

  • Approved by SABB Shariah Committee
  • A periodic statement is provided to record account transaction details
  • Availability of ATM card with standing instructions
  • Account can be opened in all major currencies
  • Profit is calculated based on daily average balances maintained during the month
  • Free access to your account at any time via SABB Direct (telephone banking) and SABBNet (internet banking)

Islamic Mudarabah Account

Example: Expected monthly profits based on monthly average balance

Monthly Average Balance AER Period Expected Profit Amount Frequency of Profit payment
SAR 50,000 0.10 1M SAR 4.16 Monthly
 
Monthly Average Balance AER Period Expected Profit Amount Frequency of Profit payment
SAR100,000 0.10 1M SAR 8.3 Monthly
 
Monthly Average Balance AER Period Expected Profit Amount Expected Maturity Amount
SAR 250,000 0.10 1M SAR 20.8 Monthly
*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.
Minimum average required is SAR 5,000 or its equivalent

*Policy terms and conditions apply

Only available to residents of Saudi Arabia

** To help us continually improve our service and in the interest of security, we may monitor and/or record your telephone call with us.

Apply Now for Islamic Mudarabah Savings Account

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