Third Quarter Profit Rates 2020
Declared Profit Rates* for the third Quarter ending 30th September 2020 are as follows:
Advantage Account
AED | USD | ||
---|---|---|---|
Amount Slabs | Advantage Profit Rate | Amount Slabs | Advantage Profit Rate |
0 - 9,999 | - | 500,000 - 999,999 | 0.15% |
10,000 - 49,999 | - | 1 Mio and above | 0.25% |
50,000 - 99,999 | 0.10% | ||
100,000 - 249,999 | 0.15% | ||
250,000 - 499,999 | 0.35% | ||
500,000 > and above | 0.35% |
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Business Finance Account
AED | USD | ||
---|---|---|---|
Slabs | Proposed Rates | Slabs | Proposed Rates |
500,000 - 999,999 | - | 500,000 to 4.99 Mio | 0.10% |
1 Mio up to 4.99 Mio | 0.10% | 5 Mio to 9,999,999 | 0.15% |
5 Mio up to 14,999,999 | 0.15% | 10 Mio and above | 0.25% (Average balance) |
15 Mio up to 25 Mio | 0.25% (Average balance) | ||
>= 25 Mio and above* | 0.25% (Average balance) |
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Savings Account
Currencies | Profit Rate |
---|---|
AED | 0.25% |
USD | 0.25% |
EUR** | -1.00% |
GBP | 0.25% |
Jood Savings Account
Currencies | Profit Rate |
---|---|
AED | 0.25% |
RAKIslamic RAKSelect Account
Currencies | Profit Rate |
---|---|
AED | 0.00% |
Call Account
Currencies | Profit Rate |
---|---|
AED | 0.10% |
USD | 0.10% |
EUR** | -1.00% |
GBP | No Profit Paid |
Term Investment Deposit - AED*
Amount Slabs | 1 month | 3 months | 6 months | 12 months |
---|---|---|---|---|
25k up to < 100k | 0.10% | 0.35% | 0.65% | 1.25% |
100k up to < 500k | 0.10% | 0.40% | 0.75% | 1.30% |
500k up to < 1 Mio | 0.15% | 0.45% | 0.85% | 1.35% |
1 Mio up to < 5 Mio | 0.15% | 0.50% | 0.90% | 1.45% |
5 Mio up to < 20 Mio | 0.20% | 0.55% | 0.95% | 1.50% |
20 Mio and above | 0.20% | 0.55% | 0.95% | 1.50% |
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Term Investment Deposit - USD*
Amount Slabs | 1 month | 3 months | 6 months | 12 months |
---|---|---|---|---|
100k up to < 500k | 0.06% | 0.15% | 0.35% | 0.65% |
500k up to < 1 Mio | 0.08% | 0.25% | 0.45% | 0.75% |
1 Mio up to < 5 Mio | 0.08% | 0.35% | 0.55% | 0.85% |
5 Mio up to < 20 Mio | 0.10% | 0.45% | 0.65% | 0.95% |
20 Mio and above | 0.10% | 0.45% | 0.65% | 0.95% |
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*The above rates should not be taken as any prediction, projection or forecast as to the future or likely performance of the accounts.
**Accounts in EURO are based on Qard Hassan and not part of Mudaraba. Foreign currency services is accrued daily and applied monthly.