Faseel High Profit Savings Account
Faseel account holders have always profited from one of the highest profit rates in Qatar on savings account.
The Faseel High Profit Savings Account is a totally unique, Shari’ah-compliant account. It allows you to set aside money for a future purchase or unexpected financial setback. Historically, our high profit savings accounts have offered one of the highest profit rates in Qatar! View historic profit rates here.
The following terms and conditions apply:
- Only one Faseel Saving Account is permitted per customer.
- The minimum balance required for the account is QAR 10,000. If this is not maintained, profit rate will be reduced to our regular savings account profit rate.
- More than one (1) withdrawal (any mode of transaction including retail transaction at any retail store through POS) in a month will also result in a reduction of profit rate to our regular savings account profit rate.
- Profit is payable on deposits of QAR 2 million or less in a month only. Deposits in excess of QAR 2 million will earn profit only for QAR 2 million. (for deposits in excess of QAR 2 million please check Check out our most recent addition to our savings accounts portfolio: Faseel High Net-worth Individual Account!
- Profit on Faseel Saving Account for a month is calculated on minimum balance of the month and is paid every month.
- The Account is provided with a Debit Card; withdrawals and deposits can be made from/to the Account.
- Withdrawal may only be made by using special stationery or ATM cards (with PIN number) provided by the Branch. Unless arranged otherwise, over-the-counter withdrawal will be permitted only to the accountholder(s) on personal application and identification.
- Faseel Savings Account is an account in which the deposited funds are invested on the unrestricted Mudaraba basis. These investments are approved by Barwa Bank Shari’ah Supervisory Board. The Branch shall have the right to perform any acts, which it deems fit to achieve the interest of both parties.
Faseel deposit holders are eligible for financing up to 90% of their deposit amount on a preferential profit rate, with no requirement of salary certificate
For further information or to apply, please call our 24-hour Customer Service Centre on 800 8555 or visit any of our branches.
Learn more about our other Savings Accounts: