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 Savings Account From Bank Albilad

 Start saving for your future with Bank Albilad!

10-11-2024
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Are you looking for the best savings account in Saudi Arabia?


Bank Albilad Savings Account is the best option for growing your savings for the future. Bank Albilad offers a savings account service that provides you with safe monthly returns based on the average balance and in accordance with Sharia Committee regulations.

What Are You Waiting For?
Open your savings account now via Albilad App without visiting the branch!
 
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What Are the Features of Bank Albilad Savings Account?


  • Open your saving account for free and online via  Albilad App or
    Albilad Net
  • Safe Monthly Profits.
  • Sharia compliant saving account.
  • The minimum initial deposit to open Saving Account is SAR 1,000.
  • Monthly account statement facility.
  • Track and manage the Savings Account via Albilad Net.
  • Quick and simple transfer from the Current Account to the Savings Account via Albilad Net, either by transferring the amount from the Current Account or under the customer prior instructions, such as:
    • Standing Orders to transfer a specific amount to the Savings Account at a specific time.

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Terms and Conditions for Saving Account


  • Customers must first have a current account with Bank Albilad. You don’t have an account in Bank Albilad? Open Your Account Now!


How to open the Savings Account online via Albilad App without visiting a branch?


  • Log in to Albilad App
  • Choose saving from the list
  • Click on Apply for New Saving Account then Learn More
  • Review product details and information and click on Apply Now
  • Enter the required information, then click Next 
  • Your Savings Account has been opened successfully!


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How to open the Savings Account online via Albilad Net without visiting a branch?


  • Login to Albilad Net.
  • Click on "Request Bank Products"
  • Select " Open Saving Account"
  • Fill in the Application Form
  • Agree to the Terms and Conditions.
  • Your Savings Account has been opened successfully!


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Profit Sharing Ratio in Bank Albilad Savings Account


Segments (per savings period)Sharing Ratio
Profit Rate of October 2024
One Year
90%4.68%
Two Years100%5.20%


​Requirements of Transfers from the Savings Account

SegmentNo. of Transfers Allowed during the Contract Period
One YearOne Transfer
Two Years
Two Transfers (one transfer per each contractual year)
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Conditions of Transfers from the Savings Account


  • The transfer amount shall not exceed 50% of the account balance (excluding the profits of the savings).
  • The first transfer from the Savings Account is permitted three months after the start of the Contract.
  • The second transfer is permitted twelve months after the beginning of the contractual year.
  • The maximum transfer limit is one (1) withdrawal transaction for each contractual year.
  • If the customer violates the savings plan, customer will not be entitled to any profits, and the Contract will be accordingly null and void.

Example of profit calculation for the Saving Account

​October 2024September 2024August 2024
90% Segment Sharing4.68%4.77%4.90%
100% Segment Sharing5.20%5.30%5.45%
Average balance during the month100,000 SAR

100,000 SAR

100,000 SAR
Return rate based on account segment 90%403.10 SAR397.85 SAR422.41 SAR
Return rate based on account segment 100%447.89 SAR442.05 SAR469.34 SAR
Number of month days313031

Calculation of Profit Sharing:  (Average balance during the month x number of month days x revenue on Savings Account based on account segment) / (360)

Note: 

The average balance is calculated as follows: the total balance divided by the number of the month days, including consolidated profits.



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All Rights Reserved © 2024 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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