Commercial Bank International – Mabrook Savings Account
Minimum Salary
AED 0
Annual Return
0.1%
Minimum Balance Required
AED 0
Features
Free Credit/Debit Card

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Savings Account Prize Draw Features

Major Prizes:

  • Top Prize: AED 1 million, awarded annually.
  • Quarterly Prize: AED 100,000, drawn every quarter.
  • Additional Entries: Earn one extra prize draw entry for every additional AED 500 in your account.

Account Features:

  • Minimum Balance: Maintain an average balance of AED 10,000 during the month before each draw to qualify.
  • Interest Rate: 0.1% per annum, paid semi-annually.
  • Debit Card: Free international debit card.
  • Insurance: Free life insurance.
  • Account Types: Available for children and joint account holders.
  • Eligibility: For personal banking customers only.

Supporting Documents:

  • For All Applicants:
    • Original passport (valid for at least 1 month).
    • Valid Emirates ID.
    • Proof of address (e.g., bank statement, utility bills, employer letter, tenancy contract).
  • For Expatriates:
    • Valid visa.
  • For Minors:
    • Birth certificate or passport.

Open your savings account today and stand a chance to win major prizes while enjoying a range of benefits. Visit your nearest branch for more information and to get started!

Calculator Definitions

  1. Amount (Principal):The total sum of money borrowed. This is the initial amount loaned to the borrower.
  2. Rate (%):The annual interest rate applied to the borrowed amount. This rate, also known as the Annual Percentage Rate (APR), will be calculated in this example.
  3. Years (Term):The original duration of the loan or financial product, expressed in years.
  4. Effective Monthly Payment:This is the monthly payment amount that includes the principal, interest, fees, and other costs associated with the loan. This comprehensive payment figure is used to calculate the APR.
  5. Calculated Annual Percentage Rate (%):The APR reflects the annual cost of borrowing, including the interest rate plus any additional fees and costs. This comprehensive rate allows for a more accurate comparison of different financial products with varying interest rates and fee structures. The APR may vary between financial institutions.
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