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Albilad Account with Monthly Returns

Albilad Account - A Profitable Bank Account


How Joyous Would Life Be If by Just Saving Your Funds in An Account, You Could Get Returns on Them in A Sharia Compliant Manner?


Albilad account makes this dream come true. All customers of Bank Albilad can open this account to save money (either in SAR or USD), manage their funds in a more convenient manner, and earn monthly profits based on a account balance you maintain with Bank Albilad. It’s a first of its kind in the kingdom, with the ability to manage the account through Albilad Net, Albilad App, Albilad Phone, as well as Albilad ATMs through the account debit card.


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What Are the Features of Albilad Account? 


Here’s an overview of what you can expect from the Albilad sub account: 

  • A flexible bank account which offers regular returns. 
  • Sharia compliant investment account.
  • The minimum qualifying amount for profit sharing is only SR 20,000 for account in Saudi Riyal, and USD 50,000 for account in USD.
  • Customers can withdraw cash at any time through their mada debit card.
  • Periodic account statement facility.
  • Track and manage accounts through Albilad electronic channels. 
  • Cash and cheque deposits from all branches of the bank. 
  • Transfer cash internally, locally, and internationally.
  • Buying and selling of currencies.

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What are the Requisites for Albilad Account?

  • The age of the customer should be at least 18.
  • Customers younger than 18 years of age can open Albilad account under the supervision of a legal guardian.
  • Women must show their national identity card identifier.
  • It is necessary to have a current account with Bank Albilad

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Terms and Conditions 

 
  • Customers cannot warrant profits if the balance in their Albilad account falls below SR 20,000 for account in Saudi Riyal, or USD 50,000 for account in USD anytime during the month. In such a case, the speculation contract of the customer is revoked. Meanwhile, remaining balance is considered current account transaction.
  • For gaining profits, customers must deposit cash in their account at the start of the month

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FAQs


What documents are required to open an Albilad account?


Documents needed for opening an Albilad account are the following:
  • For Saudi - proof of valid identification is required in the form of their national identity card 
  • For non-Saudis - their Iqama and passport are required.
  • For entities - the commercial register with documents proving the identity of owner or representatives of the entity.

How does profit distribution takes place?

Profits are distributed every month. Expected return on the Albilad account is according to the return of Albilad treasury and corporate stock speculations. 
 

What are the limitations of an Albilad account? 

Since the current account forms the foundation of your relationship with Albilad, there are a few restrictions on this account:
  • Linking with Tadawul trading account and Investment account through Albilad capital
  • Albilad credit card requests
  • Requests for any financing products
  • Attorney account transactions
  • Corporate products
  • Safe deposit boxes
  • Issuance of a debit card for the USD account.


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All Rights Reserved © 2020 Bank Albilad is a Saudi joint stock company, CR: 1010208295, Head Office: Al Mutamarat 8229, Unit 2, Riyadh 12711-3952, KSA.
Under monitoring and supervision of Saudi Arabian monetary authority and licensed by royal decree 48/M on 21/9/1425H (4/11/2004 G).


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