Al Hilal Bank Saving Account

Al Hilal Bank is one of the leading Islamic banks in the UAE. It caters to diverse financial needs with a range of Shariah-compliant banking solutions. Al Hilal Bank savings accounts are among its standout offerings. You can use it to keep your money safe and even earn a profit on the same. This account is loaded with unique features and ensures a seamless banking experience. 

This type of bank account in UAE by Al Hilal can be classified into three categories —  

  • Basic Savings Account — This account is for individuals aged 21 years and above
  • Youth Savings Account — It is for teenagers and young adults aged 13 to 21 years 
  • Seghaar Savings Account — It’s for children below the age of 13 years 

Whether your goal is to save money or earn profits, you can enjoy a great deal of benefits with this account. Let’s understand it in more detail!

Key Features and Benefits of Al Hilal Bank Savings Account

Here are the key features and benefits of opening a saving account with Al Hilal Bank —

  • This is a Shariah-compliant bank account, based on the Mudarabah principles
  • It’s quite easy to open this account with the bank’s official app
  • Profit is distributed monthly

However, to earn profits on your account, you must maintain a certain balance — 

Account Type Monthly Required Balance
Basic Savings Account At least AED 5,000
Youth Savings Account Average AED 2,500
Seghaar Savings Account Average AED 1,000
  • No account opening fee is charged 
  • For children and teens, this is a zero balance account — no need to maintain any minimum monthly balance
  • Enjoy benefits on spends with a customised Master Debit Card (available for free)
  • Get complimentary e-statements 
  • Free cash withdrawals with Al Hilal and ADCB ATMs across the UAE

Eligibility Criteria to Open Al Hilal Bank Account in the UAE

You need to meet the following eligibility criteria to open this type of Al Hilal account —

  • Age –To open an Al Hilal savings account in your own name, you must be at least 18 years old. For applicants below 18, the account can only be opened by their parents or legal guardians.  Note – If the father opens the account, it operates with full functionality. However, if the mother opens it, it is classified as a gift account, which allows transactions only between the mother and the child.
  • Nationality – UAE and GCC nationals, as well as expats with a valid Emirates ID, are eligible to open Al Hilal bank account. 
  • Employment Status – Both salaried and self-employed applicants in the UAE can apply. 

Documents to Open an Al Hilal Bank Savings Account

You need the following documents to open an Al Hilal bank savings account —

  • Emirates ID
  • Valid passport
  • UAE residence proof

Note – If the bank asks, you may have to submit some additional documents.

How to Apply for Al Hilal Bank Savings Account in the UAE?

Let’s understand the key ways to open bank account with Al Hilal Bank —

Phone Banking

You can call to connect with the bank and get the assistance of a representative to open an account.

Visit a Branch

Visit your nearest Al Hilal Bank branch and complete the application form to open a savings account.

Mobile Banking

You can download the bank’s official app and scan a few documents to open bank account. This is an excellent way to access banking at your fingertips.

Al Hilal Bank Saving Account Charges

It’s crucial to know the key Al Hilal bank savings account charges to manage your finances efficiently. Find below the major fees for adults — 

Type of Charges Amount
Account Opening Fee N/A
Monthly Average Relationship Balance AED 3,000
Minimum Balance to Be Eligible for Profit AED 5,000
Initial Debit Card Issuance Charge Free
Debit Card Replacement Fees AED 26.25
Additional Debit Card Issuance AED 26.25
ATM Withdrawal Charges Free
Chequebook Issuance Fees Free
Copy of Sales Slip AED 26.25
Cheque Photocopy AED 21
ATM Usage – Other Banks within UAE AED 2.10
ATM Usage – Other Banks within GCC AED 6.30
ATM Usage – Other Banks outside GCC AED 15.75
Balance Enquiry at Other Banks’ ATM (UAE) AED 1.05
Balance Enquiry at Other Banks’ ATM (Outside UAE) AED 3.15
ATM Transaction Charges at Other Bank’s ATM AED 31.50
PDC Collection AED 15.75
FCY Cheque Collection AED 692
E-Statement Monthly free
Account Statement AED 26.25
Standing Instruction Setup (One-time) AED 52.50
Sweep Setup (One-time) AED 52.50
Standing Instruction Transaction (Within Al Hilal Bank) Free
Standing Instruction – Local Currency (UAE via SWIFT) AED 1.05
Standing Instruction – Foreign Currency (UAE/GCC/Other via SWIFT) AED 36.75
Insufficient Funds for Standing Order AED 26.25
Account Balance Confirmation Letter AED 52.50
Liability Letter AED 63
No Liability Certificate (Account Closure) Free
No Liability Certificate (Ad-hoc Request) AED 63
Release Letter AED 52.50
IBAN Letter (Hardcopy) AED 26.25
Account Closure Fees (Within 6 Months) AED 105

Terms & Conditions Related to Al Hilal Bank Saving Account

When you open an Al Hilal Bank savings account, make sure to understand the major terms and conditions. Here are some of the key points — 

  • You need to maintain a minimum balance (Basic savings account) or average balance (Youth and Seghaar savings account) monthly to earn profit. 
  • You can easily open this account in AED. For a non-AED or USD account, you need the bank’s approval.
  • Profits are calculated every month. It’s credited to your account by the 15th of the next month. 
  • You can only close your account after paying all outstanding charges, dues, and liabilities related to the account.
  • The bank can close your account and report your name to the Central Bank’s blacklist if required by regulations.
  • If you open an account but don’t deposit any money within 120 days, the bank may close it. However, you’ll get a notice 60 days in advance. In this period, you can add funds and keep your account active.
  • The minimum average balance requirement or Mudarib share may change. In this case, the bank will notify you 30 days prior through an SMS on your registered mobile number.
  • If you use your personal account for business purposes, the bank may close the account.

 

Got a question?

To avoid the fall-below fee, you need to maintain a minimum monthly balance of AED 3,000 in your account (for adults). However, to earn profit, you need a minimum balance of AED 5,000. For teens and children, this requirement is AED 1,000 and AED 500, respectively.

You must be at least 18 years old to open this Al Hilal bank account. For those below 18, the concerned legal guardian will need to apply on their behalf.

Yes, you can easily open an Al Hilal savings bank account for your child. If your child is under 13 years old, you can choose the Seghaar accout. For children aged 13 to 21 years, the Youth savings account is available.

You need documents like an Emirates ID, passport, a valid residence visa, a trade licence (if self-employed), and more to open an Al Hilal account.

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