FAQs
Is the Awaed Albilad Account consistent with the sharia committee standards?The sharia committee of Bank Albilad has approved the product, and all Bank Albilad products are subject to their approval.
What are the available currencies to open Awaed Albilad Account?Available in Saudi riyals and US dollars.
Is there any difference in return rates between the Investment Wakalah product and the Awaed Albilad Account?Yes, the Awaed Albilad Account Product will offer a higher rate of return than the Investment Wakalah Product
What is the minimum term for Awaed Albilad Account?The minimum term of Awaed Albilad Account is one month.
What is the maximum period for Awaed Albilad Account?The maximum period for Awaed Albilad Account is 24 months.
What is the expected profit that I can earn from Awaed Albilad Account?The expected profit rate in the Awaed Albilad Account varies according to the investment period and the amount.
What is the minimum amount required to open Awaed Albilad Account?One hundred thousand Saudi riyals / thirty thousand US dollars (SAR 100,000 or USD 30,000)
Who can open Awaed Albilad Account?Currently, any individual customer of AlBilad can open the Awaed Albilad Account through his account in Albilad App or Albilad Net and Albilad Branches.
Can the customer withdraw the Awaed Albilad Account before Maturity date?Yes, the customer can withdraw the amount in the Awaed Albilad Account before the specified maturity date, but there will be no profit paid to the customers.
Are there any fees for opening Awaed Albilad Account?Currently there is no fee.
What are the requirements for opening Awaed Albilad Account?You just need to have a current account with Bank Albilad.
Can I open more than one Awaed Albilad Account?Yes, it is possible to open up to 5 accounts in one day.
What is the difference between Awaed Albilad Account and Investment Wakalah ?
The Investment Wakalah product invests in assets exempt from zakat. The Awaed Albilad Account product invests in assets that are not exempt from zakat.
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