Al Mustaqbal Savings Account
An interest bearing account which offers a fixed amount is to be remitted every month for a pre-determined period of between 12 months and 180 months to get back a lump sum on maturity with interest. At the end of the predefined time period, you will receive the Target amount, which is the amount collected in the account plus the accrued interest.
Features:
- Installments credited to Al Mustaqbal Savings Account by a free standing order from the base account. Standing order set up charge is also free.
- Date of monthly installment is chosen by you.
- Interest is tier based.
- You can take a loan against the amount outstanding in the account.
- Target Amount: Minimum: BD 1,000, No maximum.
- Tenor: Minimum: 1 year (12 months), Maximum:15 years (180 months).
- Monthly installments: Minimum: BD 50, Maximum: No maximum.
- The target amount will be credited back to the base account at the month end of the month after the final installment date.
Benefits:
- Save for foreseen expenses such as education fees, car purchase, newly-weds expense, to name a few.
- Early Withdrawals are allowed.
- Minimum age for Accounting opening 21 years old.
- Statements are available online and are sent to you quarterly.
- No minimum balance requirements or fees.
- No set up charges.
- Higher interest rates than other savings accounts.
For prevailing terms and conditions or more information call on 17 20 7777