Last Updated on 09 September 2024
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Sharjah Islamic Bank Flexi Long Term Deposit Account
Flexi Long Term Deposit Account
Features
- Flexi Long term deposit provides with highest earnings that you want
- Get highest earnings with flexible returns on deposits Flexi Long term deposit (Investment Wakala) provides for multi currency account
- The deposit tenure ranges of 24 months and 36 months
- The minimum deposit amount is AED 200,000 or USD 50,000
- The Maximum Deposit amount is AED 100,000 or equivalent USD
- Enjoy the profit payment frequency from monthly, quarterly, semi annually, annually or profit payment can be made at maturity
- The customers can get up to 70 percent finance limit against their deposits
- USD or AED
Required Documents
- The following documents are required.
- Original passport & Emirates ID, UAE residence visa for expats
Main Benefits
- Sharjah Islamic bank provides Flexi Long term deposit where the customer can get high returns and flexible deposit returns. With a credit facility on the deposit account Flexi Long term deposit account is the most preferred option for the customers.
- Get profit rate of 4.75% Highest Expected Returns
- Get up to 70% Finance against your Deposit
- Profit payment is done Monthly, Quarterly, Semi Annual or Annual Profit Payment Frequency
- Deposit currency is USD or AED Currency Deposit The Minimum Deposit- AED 200,000
- If the Deposit is liquidated within 6 months: 0% of the declared profit ( no profit payout)
- If the Deposit is liquidated from 6 months and after that then: 25% of paid and accrued profit
- If there is any credit facility availed against the deposit will be settled from the original/principal deposit amount.
- If there is any claw back/recover any advance profit paid then it will be recovered from original or the principal amount
Frequently Asked Questions
Q. What is the minimum balance?
A. The minimum balance is AED 200,000
Q. What is the eligibility criteria?
A. The applicants should be 21 years of age and have minimum balance of AED 200,000
Q. Do you get finance support?
A. Yes, you get up to 70% finance support
Q. What is the profit rate per annum?
A. The highest profit rate is 4.75% pa & starting from 3.5% pa
Sharjah Islamic
Established in 1975 through an Amiri decree, the bank was initially known as the National Bank of Sharjah. In 2002, the bank was the first bank to convert to Islamic Banking and was renamed as Sharjah Islamic Bank (SIB). SIB has a Vision 'to be the bank of choice, delivering creative customer solutions based on Islamic principles of partnership, trust & equality for all’. The values followed by them are :
- Bonding and Harmony
- Compliance
- Learning and Self Development
- Social Responsibility
- Creativity and Innovation
Get in touch with Sharjah Islamic Bank Customer Care