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Wafer Account

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Wafer Account is an innovative Shariah compliant product to help start your savings plan and build new saving habits.This account offer you the option to save on a monthly basis, for your own requirements and savings needs.At the end of the agreed term, the amount payable will be the sum of your invested capital along with accumulated profit.

Features and Benefits:

  • Shariah compliant Mudarabah product, approved by SAB’s Shariah Committee
  • Competitive returns for short to medium term savings plans
  • Minimum monthly saving amount of§100.
  • Saving is available in Saudi Riyal
  • Flexible saving periods starting from 3 months up to 36 months.
  • Available for children and minors
  • Fully digital product, only available Online.
  • Zero charge for opening a Wafer account
  • You can open multiple Wafer accounts
  • Early termination is possible, with a reduction of 50% of accumulated profit
  • Your selected deposit amount and the monthly profit each month are added to your balance, so that you earn profit both on your contribution and existing prior profits.