The Emirates Islamic Kunooz account is a unique savings solution designed to reward customers in the UAE. It merges the advantages of both profit sharing with exciting prize draw opportunities and offers daily and monthly chances to win prizes such as cash rewards. Adhering to Shari’a-compliant principles, the account aligns with Islamic banking standards, providing ethical and secure financial growth.
One of its key features is the absence of a minimum balance requirement ensuring prize eligibility for all account holders. Additionally, the account is accessible through digital banking channels enabling seamless and convenient management. Combining flexibility, rewards and benefits, this account is ideal for those who are looking to grow their savings.
The key perks of opening an EIB Kunooz Savings account are as follows:
Given is the eligibility criteria for having an Emirates Islamic Bank Kunooz Savings account:
Prize | Customer Eligibility | Balance Eligibility |
---|---|---|
AED 1,000,000 Kunooz + Cash Prize | Priority banking and private banking customers (Kunooz+) | AED 100,000 growth in the Kunooz Millionaire account quarterly average balance compared to the previous quarter |
AED 1,000,000 Cash Prize | All Kunooz account holders | AED 5,000 saved in the Kunooz Millionaire account qualify for one entry into the prize draw |
AED 50,000 Cash Prize | All Kunooz account holders | AED 1,000 saved in the Kunooz Millionaire account qualify for entry into the draw |
AED 50,000 Cash Prize | All Kunooz account holders who have a Minor/Youth account with EIB (Kunooz Youth) | AED 5,000 saved in the Kunooz Millionaire account qualify for entry into the draw |
AED 1,000 Cash Prize | All Kunooz account holders who are Youth/Minor | AED 500 saved qualify for one entry into the draw |
With Paisabazaar.ae, opening an account is quick and hassle-free. The platform uses a seamless process to help you open an account instantly.
The steps are as follows:
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Listed are the primary fees and charges of the Emirates Islamic Bank Kunooz account:
Type of Fee | Charges |
---|---|
Monthly Fall-below Fee | AED 26.25 |
Monthly Teller Fees | 6 free per month; Post 6 months- AED 10.50 |
Account Closure Fee (if closed within 6 months) | AED 105 |
Utility Bill Payment: Over the Counter | AED 10.50 |
SMS Monthly Fee | Free |
Dormant Account Charges | N/A |
Chequebook Charges | AED 26.25 second chequebook onwards; first chequebook is free |
Cheque Returned Charges- Inward (Personal) | AED 105 |
Lost or Stolen Card Replacement | AED 26.25 |
Listed are some of the terms and conditions for the EIB Kunooz savings account :
The Kunooz savings account is a Shari’a-compliant savings account that offers customers the chance to win exciting prizes while earning profit on their savings.
Customers have the chance to win cash prizes through daily and monthly draws.
There is no minimum balance required to open the account, but a minimum balance of AED 3,000 is required to earn profit.
Every AED 1,000 maintained in your account gives you one entry into the prize draws. The more you save, the more entries you get.
Yes, the Kunooz Savings Account is fully Shari’a-compliant and follows Islamic banking principles.
You can open the account online, through EIB’s website or app, even through our digital portal, or by visiting any Emirates Islamic branch.