Minimum Balance
SAR 100
Minimum Salary
Opening Balance
SAR 100
Annual Rate
Depending on the amount and the period
Monthly Fee
No
Savings Account
Saudi Awwal Bank - Waafer Account
Description :
SABB’s Waafer Account is an innovative Shariah compliant to start your savings plan.
This account will offer SABB’s customers the option to save on a monthly basis based on their life stage requirements and savings needs.
At the end of the agreed term, the amount payable upon maturity will be the sum of the customer’s invested capital along with the accumulated profit.
Documents required:
• Account opening form.
• Copy of National ID or Resident Identity.
Example: of 12 Months subscription in (Waafer) Account:
• Deposit Amount: SAR 1500
• Annual Equivalent Rate: 2.67%
• Period: 12M
• Expected Profit Amount: SAR 267
• Expected Maturity Amount: SAR 18,267
Benefits:
• Shariah compliant product
• Competitive returns on short to medium term savings
• Minimum saving amount of SAR 100 for minors.
• You can open Waafer Account for minors.
• Saving is available in SAR.
• Flexible saving periods of 12, 24 and 36 months.
• Can only be opened through SABBNET
• Zero charge to open Waafer Account
• You can open multiple Waafer accounts.
• The selected deposit amount and the monthly profit of each month will be added to the next month balance.
Saudi Awwal Bank - Green deposit account
Minimum Balance
SAR 25000
Minimum Salary
Opening Balance
SAR 25000
Annual Rate
Depending on the amount and the period.
Monthly Fee
No
Description :
SABB’s Green Deposit Account is an innovative Shariah compliant Time Deposit that offers the opportunity to fulfil your personal sustainability goals through investing your funds to support financing of environmentally friendly projects in Saudi Arabia, with attractive returns in the short to medium term.
Documents required:
• Account opening form.
• Copy of National ID or Resident Identity.
Example: of 12 Months subscription in SABB Green deposit account
• Deposit Amount: SAR 25,000
• Annual Equivalent Rate: %2.55
• Period: 12M
• Expected Profit Amount: SAR 640
• Expected Maturity Amount: SAR 25,640
Benefits:
• Contribute to sustainability as deposits are used to fund eligible environmentally beneficial projects and businesses.
• Fully Shariah compliant account.
• Stable principal and predictable returns.
• Minimum investment amount of SAR25,000.
• Investment are available in Saudi Riyal (SAR)
• Flexible investment periods of 1, 3, 6, 9 and 12 months.
Saudi Awwal Bank - Premier Account
Minimum Balance
1,000,000 SAR
Minimum Salary
SAR 40,000
Opening Balance
1,000,000 SAR
Annual Rate
Monthly Fee
No
Description :
SABB Premier offers individually tailored products and services designed for wealth management and day-to-day banking transactions.
Requirements:
• Mandated 3-month average or balance of SAR350,000 or above in total relationship value.
• A mandated monthly salary transfer amount of SAR 35,000 or above.
Benefits:
• World-class products and advice to help you build and maintain your wealth.
• Accounts that make the most of your money and time
• World-class facilities for your family, whether they're at home or abroad
• Powerful protection and tools for people with international interests
• Islamic Current and Savings Accounts in all major currencies
• Islamic Commodity Investment Account in a range of major currencies
• Free travellers cheque encashment service.
• Discounted exchange rates
• Financial Planning Services
• Investments Products
• Emergency cash and help anywhere in the world
• Global Safety Net which includes protection and assistance if you are living or travelling overseas
• Multi-trip travel insurance cover
• Global views of all your accounts
• More than 350 international Premier Centres in 45 countries/territories to help you and provide local expertise
Saudi Awwal Bank - SAB Advance
Minimum Balance
350,000 SAR
Minimum Salary
SAR 20000
Opening Balance
350,000 SAR
Annual Rate
Monthly Fee
No
Description :
With tailored advice, exclusive rates and a range of carefully selected investment products, SABB Advance is designed to help you get more from your money.
Requirements:
• Mandated 3-month average or balance of SAR100,000 or above in total relationship value.
• A mandated monthly salary transfer amount of SAR 20,000 or above.
Benefits:
• SABB Advance does more with your money by helping you grow your net worth
• Easy-to-understand Islamic savings accounts that generate profit
• Invest surplus cash to achieve your future goals
• Provide for your children education
• Investment in different sectors within the Kingdom and global markets
• Access to SABB Advance Managers and Wealth Managers
• Home Takaful Plan
• Personal Accident Takaful Plan
• Travel Takaful Plan
• Care Takaful Plan
• Dedicated Call Centre team available 24/7
• Priority service
• Internet Banking
• SMS Alerts
• SABB Advance Credit Card and ATM Chip Card
• International Emergency support in the event of the loss or theft of your cash or credit card while abroad
• International Account Opening
Saudi Awwal Bank - SAB Al Ruwaad
Minimum Balance
SAR 30000
Minimum Salary
SAR 0
Opening Balance
Annual Rate
Monthly Fee
No
Description :
SABB’s Al Ruwaad Bank Account offers comprehensive banking and personal finance services for government & private sector employees.
There’s more incredible rewards to having a SABB Al Ruwaad Bank Account. Don’t delay, Apply for a SABB Al Ruwaad Bank Account today.
Documents required:
• Account opening form.
• Copy of National ID or Resident Identity.
Benefits:
• Exclusive offers and promotions with SABB’s retail partners.
• Free automated priority branch service with the specially designed Al Ruwaad ATM card.
• SABB Titanium MasterCard Credit Card with no annual fees for the first year.
• Free Supplementary Credit Cards for family members.
• Free account statements.
• Access to SABB’s Wealth Management services.
• 24 hour access to SABBDirect (Customer Service Centre) and SABBNET (Internet Banking).
• Free remittances via SABBNET to HSBC India beneficiary accounts (First time one-off charge of SAR 50 per beneficiary account).
• Free cheque book.
• Special discount on safe deposit lockers.
Saudi Awwal Bank - Islamic Commodity Investment Account
Minimum Balance
SAR 25,000
Minimum Salary
Opening Balance
SAR 25,000
Annual Rate
Depending on the amount and the period.
Monthly Fee
No
Description :
SABB’s Islamic Commodity Investment Account is an innovative Shariah complaint alternative to conventional Time Deposits for investors looking for attractive returns in the short to medium term.
Documents required:
• Account opening form.
• Copy of National ID or Resident Identity.
Example: of 12 Months subscription in (Islamic Commodity Investment Account) Account:
• Deposit Amount: SAR 25,000
• Annual Equivalent Rate: 2.55%
• Period: 12M
• Expected Profit Amount: SAR 640
• Expected Maturity Amount: SAR 25,640
Benefits:
• Shariah compliant alternative to Time Deposits.
• Competitive returns on short to medium term investments.
• Minimum investment amount of SAR 25,000.
• Investment is available in other currencies: USD, GBP.
• Flexible investment periods of 1, 2, 3, 6 and 12 months.
Saudi Awwal Bank - Islamic Mudarabah Account
Minimum Balance
5,000 SAR or equivalent
Minimum Salary
Opening Balance
5,000 SAR or equivalent
Annual Rate
Monthly Fee
No
Description :
SABB’s Islamic Mudarabah Saving Account is based on the Mudarabah concept which generates profit on customers average daily account balances. The most important difference between this account and traditional saving accounts is that the customers’ funds are invested in Shariah Compliant Islamic assets.
Documents required:
• Account opening form.
• Copy of National ID or Resident Identity.
Benefits:
• Approved by SABB Shariah Committee
• A periodic statement is provided to record account transaction details
• Availability of ATM card with standing instructions
• Account can be opened in all major currencies
• Profit is calculated based on daily average balances maintained during the month
• Free access to your account at any time via SABB Direct (telephone banking) and SABBNet (internet banking)