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 the Shariah Committee of OCBC Al-Amin Bank Berhad (Islamic Bank of OCBC Group)

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Dividend Rates

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.
• Half-yearly dividend payout
• Monthly statements showing your transaction details
• Withdraw or deposit cash with your Easi-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
• Deposit cash into your account using our new non-card deposit facility

Requirements

• 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

Apply Now

• Visit any OCBC Bank branch today with your identity card and the minimum initial deposit to open the account. For non-Singaporeans, please bring your passport and employment pass/work permit.
• Mail-in Application Form (see below for documents required)

  Documents for Mail-in Application

  • For Singaporean & PR: Copy of NRIC (front & back).
  • For foreigners, copy of passport and employment pass/work permit.
  • If you do not have an existing OCBC deposit account, please submit any one of the following documents latest original document reflecting the same name and address indicated in the application form:
    1. Telephone bill generated by SingTel, M1 or Starhub; OR
    2. Any bank statement (savings, current, credit card or personal credit statement).

Fees

• Service fee of S$2 only if monthly average balance falls below S$1,000

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.

Related Links

• Click here to know our Shariah Committee of OCBC Al-Amin Bank Berhad (Islamic Bank of OCBC Group)
• Click here and our FAQ may help.
• Click here for the Terms and Conditions for the Zakat Auto-Deduction Service

Notes

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