Islamic Saving Account

Riyad Bank offers you the best financial solutions to plan for a secure future with a Shariah-compliant competitive returns.

• Ability to open an account through Riyad Online or Riyad Mobile
• Easy transfer to the Saving Account
• Instant access to the account through free electronic banking
• Shariah-compliant competitive returns on your daily balance when choosing saving account with return
• Ability to set the savings target
• No salary transfer required
• Profits are calculated starting from SAR 20,000 or above

For Saving Accounts APR disclosure, click here

Through Riyad Online or Riyad Mobile, select “Apply Now” then “Additional Account” and choose Saving Account with or without returns.

• Opening current account with Riyad Bank
• Valid ID card
• Signing the Saving account agreement
• You can also visit your nearest Riyad Bank branch to apply

• The bank shall invest the deposit amount in the Mudaraba Pool of Riyad Bank’s different investment activities, approved by the Shariah Committee at Riyad Bank
• The deposit amount may not be withdrawn from the Saving Account until after 24 hours from the time of the deposit
• The bank is entitled to co-mingle the customer’s Mudaraba amount with its funds or other customer’s funds. Each party is a partner on the basis of their ratio of investment
• If the daily closing balance is below SAR 20,000, the deposit amount shall be handled as a current account balance where the customer is not entitled to any profits whatsoever
• The bank does not guarantee the capital of Mudaraba. Any losses incurred to the Mudaraba Pool shall be borne by the customer alone
• The net profit of Mudaraba shall be allocated to the bank and the customer according to the agreed upon investment ratios set out in the Saving Account agreement
• Should be 18 years of age or older
• Terms and conditions apply