Al-Wadi'ah Current Account - Banking

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Al-Wadi'ah Current Account

The Al-Wadi'ah Current account is designed to provide you with the full benefits of a chequing account and at the same time gives you the assurance that your money is used with guidance from our reputable Syariah Advisory Council.

Click here to know our Syariah Advisory Council.

Click here and our FAQ may help.

Click here to apply via our mail-in form now!

Next Steps :

Benefits

Pays your Zakat on your account conveniently & on time with our Zakat (tithe) auto-deduction service. Applicable only for personal accounts. Click here to find out more about our Zakat (tithe) Auto Deduction Service. This is an opt-in feature. Click here to opt-in.

A cheque book which allows you to make payment

Receive your new chequebook automatically even before your existing chequebook runs out

Comes along with an ATM card to allow you to withdraw or deposit cash at our ATMs and Automated Deposit Machines at all OCBC Bank Branches and Fastlanes

Receive monthly statement with all your transaction details

The account can be opened in a single name or up to a maximum of 8 joint names

24-hour account access through OCBC Internet Banking and OCBC Phone Banking

Available at all our branches

Eligibility

Muslims and Non-Muslim individuals

All organisations (Islamic or non Islamic)

Minimum age of 18 years old and above

Profit seeking and non-profit seeking organisations

Societies and Associations
Religious organisations
Charitable organisations
Others (with proof of their non-profit status)

Minimum initial deposit of S$1,000

Fees & Charges

Details:

Service Fee

Personal Account: S$7.50 per month if monthly average balance falls below S$3,000

Non-Personal Account: S$15 per month if monthly average balance falls below S$3,000

Transaction Fee

S$2 per cheque from the 11^th cheque onwards if monthly average balance falls below S$1,000

Click here for Pricing Guide

Terms and Conditions

Click here for the Terms and Conditions Governing Deposit Accounts

Click here for the Terms and Conditions for the Zakat Auto-Deduction Service

Apply Now!

Apply via our mail-in application form by clicking here.

Visit any OCBC Bank Branch today with your identity card/passport and the minimum initial deposit to open the account or call 1800 438 3333 for more information.

Deposit Insurance Scheme

Singapore dollar deposits held by or for an individual or a charity in accounts listed in OCBC Bank’s Insured Deposit Register (available at www.ocbc.com/policies) will be insured in accordance with and for up to the limits specified in the Deposit Insurance Act.