Emirates Islamic Bank e-Savings Account

An online-only Wakala-based savings account paying tiered expected profit up to 1.50% p.a., credited monthly on average balances: 0.50% from AED 5,000, 0.80% from AED 50,000, 1.25% from AED 3.5 million and 1.50% from AED 25 million (same tiers for USD). New-to-account customers get 1.50% across all slabs (capped at AED 25 million) for the first 3 months. No minimum balance, unlimited withdrawals with no profit penalty, available in AED and USD, one account per currency. No cheque book, ATM card or branch access; the account operates exclusively through Online Banking and the EI + app, with published online transfer limits (e.g. AED 300,000 to own accounts, AED 100,000 telegraphic transfers per day).

The e-Savings Account is what honest Islamic savings disclosure looks like: a named Wakala contract, a full printed tier table in two currencies, monthly crediting and zero withdrawal traps. The rates themselves are mid-table - 0.50% at entry level embarrasses nobody but loses badly to ADIB Ghina's promotional 5.25%, while the AED 25M top tier is corporate-treasury territory. Its real niche is liquid USD savings and disciplined online-only savers who value predictability over campaign rates. Pair with a Booster Wakala for committed money and you have EI's best-documented deposit combination.