Al-Wadi'ah Savings Account - Banking

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Al-Wadi'ah Savings Account

Al-Wadi'ah Savings Account allow customers the flexibility to save, withdraw and the potential to earn Hibah*. You can have the assurance that your money is managed in line with Islamic principles and guidance from our Syariah Advisory Council.

Click here to know our Syariah Advisory Council.

Click here and our FAQ may help.

Click here to know the indicative dividends rates.

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

* Hibah is a gift (in the form of dividend) given at the sole discretion of the bank.

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.

Potential to earn high dividends. The more you save, the higher is the dividend

Half-yearly dividend payout

Offers an ATM card, Phone Banking and Internet Banking facilities for enquiries and transactions

Convenience and easy accessibility

Accessibility of ATMs
Free GIRO service for bill payment
Global cash withdrawal with ATM cards
No limit on inter-branch withdrawal with IC

Monthly statement with all your transaction details

Withdraw or deposit cash with your ATM Card at our ATMs and Automated Deposit Machines at all OCBC Bank Branches and Fastlanes

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

Available at all OCBC branches

Eligibility

Muslims or Non-Muslim individuals

Minimum age of 15 years old and above

Minimum initial deposit of S$1,000

For individuals less than 15 years old, a trust account will be opened with parent(s) / guardian(s) who must be at least 21 years old

Fees & Charges

Details:

Service Fee
S$2 per month 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.