OCBC Al-Wadiah Savings Account

OCBC Al-Wadiah Savings Account

OCBC Al-Wadiah Savings Account allows depositors the flexibility to save, withdraw and the potential to earn Hibah. Rest assured that money is managed in line with Islamic principles and guidance from OCBC Syariah Advisory Council for this Al-Wadiah Savings Account.

OCBC Al-Wadiah Savings Account pays Zakat on savings account. It is convenient, timely especially if depositors use Zakat (tithe) auto-deduction service. OCBC Al-Wadiah Savings Account is applicable only for personal accounts. The Zakat (tithe) auto deduction service is an opt-in feature for OCBC Al-Wadiah Savings Account.

There is potential to earn high dividends. The more depositors save, the higher is the dividend for the OCBC Al-Wadiah Savings Account. Dividends are paid every six months.

OCBC Al-Wadiah Savings Account offers an ATM card, free GIRO service for bill payments, Phone Banking and Internet Banking facilities for enquiries and Syariah-compliant transactions. Depositors can expect monthly statements to be sent as a record of all OCBC Al-Wadiah Savings Account transactions.

This OCBC Al-Wadiah Savings Account is suitable for Muslims and non-Muslims age 15 and above. An initial minumum deposit of $1000 is required. Service fee of S$2 per month is imposed on the OCBC Al-Wadiah Savings Account if monthly average balance falls below S$1,000.

Indicative dividend rates start at 0.25% for sums less than $10000. Above $250,000 you can expect to collect 0.48% per annum for using OCBC Al Wadiah Savings Account.

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See OCBC website for details and latest dividends.