Emirates Islamic Bank Kunooz Savings Account

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.

Features and Benefits of the Emirates Islamic Kunooz Account

The key perks of opening an EIB Kunooz Savings account are as follows:

• Earn exclusive rewards:
  • Grand cash prize of AED 1,000,000
  • Weekly cash price of AED 50,000
  • Daily cash prize of AED 1,000
• Earn quarterly profit based on the Mudaraba structure
• Get an internationally recognized debit card for free

Are You Eligible to Open an Emirates Islamic Bank Kunooz Account?

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

Open an Emirates Islamic Bank Kunooz Savings Account via Paisabazaar.ae

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:

• Step1- Click on the bank account lead form.
• Step2- Enter the required details and submit the form.
• Step3- Compare and choose a bank account listed on the quotes.
• Step4- Read the fine print and apply.

We will shortly get you connected with our team to guide you through the next steps.

Get the following privileges upon choosing us:

• A platform to compare accounts across the top UAE banks
• A team of experts to help you with all your related queries
• A quick and hassle-free bank account opening process

Emirates Islamic Kunooz Bank Account- Fees and Charges

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

Emirates Islamic Bank Kunooz Savings Account- Terms and Conditions

Listed are some of the terms and conditions for the EIB Kunooz savings account :

• The Bank will provide the customer with account statements and relevant advice either upon request or at the Bank’s discretion. If no written objection is received by the Bank within 30 days from the date the statement or advice is sent, via mail or electronic means—it will be considered accurate and accepted by the customer. If a customer does not receive a statement for a given period, it is their responsibility to request one within a month from when it would normally be issued.
• Upon receipt, the customer must review the statement carefully and keep it secure. Any errors or discrepancies must be reported in writing to the Bank within 30 days of the statement date as per the Bank’s records. Unless otherwise notified in writing, all correspondence will be sent to the address provided in the account opening form. The customer is responsible for notifying the Bank in writing of any changes to their details.
• Account statements will be issued according to the frequency associated with the specific Account type, as determined by the Bank. Customers may also request statements through Bank branches, Internet Banking, Phone Banking, or other available channels.
• The Bank’s records and documentation will serve as proof of the account balance. If the customer disputes these records, the burden of proof rests with the customer.
• The Bank reserves the right to invest credit balances in current accounts into the Mudaraba Pool, bearing the outcomes of such investments. Additionally, the Bank may deduct applicable charges, fees, or expenses for services rendered. These charges may be adjusted at the Bank’s discretion, subject to the customer’s consent.

Frequently Asked Questions