Wakala Deposit Account | Emirates NBD

Available in AED and USD

Minimum deposit of AED 4 million or USD 1 million

For individuals and the self-employed

Wakala Deposits

Digital Account Opening

At a glance

Many aspirations. Many choices.

Available for 1, 3, 6, 9, and
12 months

Currencies: AED and USD

Start with AED 4 million or USD 1 million

Key features

An authorised ‘wakil’ will invest your funds
Profit payout upon maturity
Premature closures allowed
Profit rates based on investment

Eligible UAE citizens, residents, non-residents with salaried and non-salaried accounts with us can invest

Key Facts Statement (KFS)

Terms and conditions

Bank with us securely and from anywhere

Mobile & Online Banking

On-the-go banking

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Security

Safeguarding your information
is a shared responsibility

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Requirements and documents for opening an account

UAE Nationals

Identification
- Original Emirates ID and copy
- Copy of passport
In case of a salary transfer account, we’ll need one of the following documents:
- Copy of Labour card
- Copy of Employee ID
- Latest salary letter
- Copy of employment visa page from passport

Expats

Identification
- Original Emirates ID and copy
- Copy of passport
In case of a salary transfer account, we’ll need one of the following documents:
- Salary transfer letter (not more than 30 days from date of issue for non-government companies. For government companies, validity as mentioned in the letter.)
- Copy of appointment letter or contract
- Copy of payslip (less than 3 months old)
- Statement with previous month’s salary
- For bulk accounts: consolidated letter from HR (with salary of each employee mentioned)

Non-residents

Passport and copy with visa page and one of the following documents
- Utility bill (not more than 3 months old)
- Bank statements (not more than 3 months old and you can print these off online banking too)
- Reference letter from a banker in home country confirming the length and nature of your relationship with them (this should be a minimum of 12 months); residential address of the customer as per the bank records

GCC Nationals

Identification
- Passport and copy or UAE National ID and copy
For current or checking accounts any one of the following documents:
- UAE National ID
- Labour card and copy
- Work Permit and copy
- Letter from employer
- Copy of recent telephone or electricity bill (not more than 3 months old)
- Tenancy contract in your name

Self-employed (non-individuals)

Passport copy and EIDA copy of all signatories/owners/director
Trade license if the company incorporated in the UAE
Memorandum of association (MOA)
Board resolution

UAE Nationals

Identification
- Original Emirates ID and copy
- Copy of passport
In case of a salary transfer account, we’ll need one of the following documents:
- Copy of Labour card
- Copy of Employee ID
- Latest salary letter
- Copy of employment visa page from passport

Expats

Identification
- Original Emirates ID and copy
- Copy of passport
In case of a salary transfer account, we’ll need one of the following documents:
- Salary transfer letter (not more than 30 days from date of issue for non-government companies. For government companies, validity as mentioned in the letter.)
- Copy of appointment letter or contract
- Copy of payslip (less than 3 months old)
- Statement with previous month’s salary
- For bulk accounts: consolidated letter from HR (with salary of each employee mentioned)

Non-residents

Passport and copy with visa page and one of the following documents
- Utility bill (not more than 3 months old)
- Bank statements (not more than 3 months old and you can print these off online banking too)
- Reference letter from a banker in home country confirming the length and nature of your relationship with them (this should be a minimum of 12 months); residential address of the customer as per the bank records

GCC Nationals

Identification
- Passport and copy or UAE National ID and copy
For current or checking accounts any one of the following documents:
- UAE National ID
- Labour card and copy
- Work Permit and copy
- Letter from employer
- Copy of recent telephone or electricity bill (not more than 3 months old)
- Tenancy contract in your name

Self-employed (non-individuals)

Passport copy and EIDA copy of all signatories/owners/director
Trade license if the company incorporated in the UAE
Memorandum of association (MOA)
Board resolution

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