First Quarter Profit Rates 2023
Declared Profit Rates* for the First Quarter ending 31st March 2023 are as follows:
Advantage Account
AED | USD | ||
---|---|---|---|
Amount Slabs | Advantage Profit Rate | Amount Slabs | Advantage Profit Rate |
50,000 - 99,999 | 0.10% | 500,000 - 999,999 | 0.15% |
100,000 - 249,999 | 0.15% | 1 Mio and above | 0.25% |
250,000 - Above | 0.35% |
Business Finance Account/Business Starter Account
AED | USD | ||
---|---|---|---|
Slabs | Profit Rates | Slabs | Profit Rates |
500K up to 4.99 Mio | 0.10% | 500,000 - 4.99 Mio | 0.10% |
5 Mio up to 14.99 Mio | 0.15% | 5 Mio to 9.99 Mio | 0.15% |
15 Mio and above | 0.25%(Average balance) | 10 Mio and above | 0.25%(Average balance) |
Savings Account
Currencies | Profit Rate |
---|---|
AED | 0.25% |
USD | 0.25% |
GBP | 0.25% |
EUR* | Nil |
CHF* | Nil |
JPY* | -0.60% |
Accounts in JPY are based on Qard Hassan and not part of Mudaraba Foreign currency services is accrued daily and applied monthly.
Jood Savings Account
Currencies | Profit Rate |
---|---|
AED | 0.25% |
Call Account
Currencies | Profit Rate |
---|---|
AED | 0.10% |
USD | 0.10% |
GBP | Nil |
JPY | -0.60% |
EUR | Nil |
CHF | Nil |
Accounts in EURO, CHF and JPY are based on Qard Hassan and not part of Mudaraba Foreign currency services is accrued daily and applied monthly.
Term Investment Deposit - AED*
AED | RAKislamic Term Investment Deposit Profit Rate | |||
---|---|---|---|---|
Islamic Amount Slabs | 1 to 2 months | 3 to 5 months | 6 to 11 months | 1 year-up to 2 years |
`> =25k - 99.99k | 0.05% | 0.10% | 0.15% | 0.20% |
`> =100k - 499.99K | 0.05% | 0.10% | 0.15% | 0.30% |
`> =500k - 999.99K | 0.05% | 0.10% | 0.25% | 0.40% |
`> = 1 Mio - 4.99 Mio | 0.05% | 0.10% | 0.25% | 0.50% |
`> =5 Mio - 10 Mio | 0.10% | 0.20% | 0.35% | 0.60% |
Term Investment Deposit - USD*
USD | RAKislamic Term Investment Deposit Profit Rate | |||
---|---|---|---|---|
Islamic Amount Slabs | 1 to 2 months | 3 to 5months | 6 to 11 months | 1 year-up to 2 years |
`> =25k - 99.9K | 0.00% | 0.00% | 0.00% | 0.00% |
`> =100k - 500K | 0.05% | 0.10% | 0.15% | 0.20% |
`> =500k - 1Mio | 0.05% | 0.10% | 0.15% | 0.30% |
`> = 1 Mio - 2.72 Mio | 0.10% | 0.15% | 0.20% | 0.40% |
Term Investment Deposit amounts below AED 25K and USD 100K and slabs for tenor below 1 Month, are non participants in Mudaraba Pool.
For Deposit amounts in excess of AED 10 Mio and for deposit tenors 2 years and 3 years, please visit any RAKBANK branch. Applicable for New and Existing Deposits placed with Auto Renewal Instruction.
*The above rates should not be taken as any prediction, projection or forecast as to the future or likely performance of the accounts.