Key Fact Statement (KFS) – Credit Cards

This KFS provides you with indicative information about profit, fees and charges of this product.
All charges are inclusive of Value Added Tax (VAT) in AED currency.


Credit Card Type

Product name Skywards Black Skywards Infinite Skywards Signature Cash Back Cash Back Plus Emarati Flex Elite Flex RTA Etihad Premium Etihad Saqer Etihad Ameera Etihad Platinum
Annual Fee 4200 2100 735 367.5 313.95 NA 735 NA NA 2625 943.95 733.95 208.95

Applicable profit rates

Current Accounts Product Expected Profit rate per annum Basis of profit calculation Profit payout frequency
Current Account Not applicable Not applicable Not applicable
Savings Accounts (Mudaraba) Product Expected Profit rate per annum Basis of profit calculation Profit payout frequency
Investment Savings 0.20% Quarterly Average Balance Profit on Investment Term Deposits and Savings Accounts will be paid latest by 21st of the month following each quarter or after the Emirates Islamic Board meeting is held to approve the Quarterly Financial Results.
Kunooz Account 0.10% (stand a chance to win grand prizes and cash prizes)
Child Savings 0.20%
Super Savings Skywards 0.10% (earn 2020 Bonus miles on opening the account and up to 60,000 Skyward miles per year)- subject to meeting the required criteria
Super Savings Etihad Guest 0.10% (earn 2020 Bonus miles on opening the account and up to 60,000 Etihad guest miles per year)- subject to meeting the required criteria
High Value Salary ** (for Priority Banking Customers) Up to 0.40%
Value ** (for Advantage Banking Customers) Up to 0.20%    
**Profits are paid as these accounts are Current Account in nature. However, they are classified under Savings Accounts to facilitate the profit payout under the Islamic structure (Not available on Foreign Currency accounts).
**Profit rates are indicative and reflective of the previous rates declared.
Savings Accounts (Wakala) Product Expected Profit rate per annum Basis of profit calculation Profit payout frequency
e-Savings (Online only account)*
  • Enjoy 1% p.a. across all slabs for three months on AED and 0.90% on USD for new customers
  • Up to 0.80% on AED accounts
  • Up to 0.60% on USD accounts
 Average Monthly Balance Profit will be paid on the 1st of the month following each quarter
Emirati Family Savings Account Up to 0.75% Average Monthly Balance. Profit will be paid monthly based on the average balances held in the Emirati Family Savings Accounts of all family members Profit will be paid on the 1st of the month following each month
*There are no limits to transactions made on the account. In case of a withdrawal from your e-Savings Account during any month, profit will be paid on the basis of the prevalent Savings Account rate of that particular month.

Important Terms and Charges

Minimum Repayments You must pay the Minimum Payment Due by the Payment Due date each month. Minimum payment is 5% of the closing balance outstanding, or AED 100, whichever is higher. If the closing balance is less than AED 100, it must be paid in full.
1 Annualized Percentage Rate (APR) for Purchase
Skywards Black & Business Credit Card Emarati Credit Card All other Credit Cards Corporate Credit Cards
39 % 40.68 % 41.88 % 23.88 %
  • If we receive payment of the statement balance in full on or before the payment due date, you do not have to pay any Billed Profit on the statement balance. This is at the sole discretion of Emirates Islamic Bank (P.J.S.C) (the “Bank”).
  • If you do not pay the statement balance in full on or before the payment due date, we may charge, without prior notice, Billed Profit even if you have paid the minimum payment due in full.
  • Billed Profit will be applicable on the Total Retail & Cash Amount Due as noted in the previous month’s Statement of Account as well as on all new transactions (from the respective transaction date) till such time as the total outstanding amounts are paid in full.
Annualized Percentage Rate(APR) for Cash Advance
Skywards Black & Business Credit Card Emarati Credit Card All other Credit Cards Corporate Credit Cards
39 % 40.68 % 41.88 % 23.88 %

This facility will be reviewed from time to time.

  • Cash Advance transactions include ATM, Over-the-Counter, Returned Payment and Cash Equivalent (money orders, foreign currency, travelers checks from a non-financial institution, person-to-person money transfers, Quasi Cash and Crypto Currency Exchanges as defined by VISA and Mastercard).
  • Billed Profit will be charged on the amount of cash advance from the date of the transaction until the payment is made in full.
Cash Advance Fee 3.15% of cash advance amount or AED 103.95 whichever is higher will be charged for each Cash Advance transaction Maximum cash advance per transaction 10,000 or up to 50% of the card limit whichever is lower.
Profit -free period Up to 55 days for Retail Purchases together with any related fees and charges, and any profit or fees that are not related to a specific balance type. For example, profit free period does not apply for Cash Advances, Balance Transfers, special promotions, and any profit or fees related to these balance types.
Late Payment Fee AED 131.25 per month will be charged to the Card Account if the Minimum Payment Due is not received by the Payment Due Date (the Bank shall pay any such amounts on behalf of the Customer to a charity approved by the Bank’s Internal Shariah Supervision Committee, after deducting the actual expenses.
Direct Debit return fee AED 105 surcharge will be levied towards handling charge on Dishonored Direct Debit.
Over Limit Fee AED 261.45 per month will be charged to the Card Account, if at any time during the billing cycle, the Current Balance in the Card Account exceeds the Credit Limit assigned. Such fee will be charged once during the billing cycle.
Supplementary Card Fee NA (One-time joining fee of AED 525 will be charged for Skywards Black Metal Supplementary cards only)
Replacement Card Fee
Skywards Black Credit Card Emarati Credit Card All other Credit Cards
AED 420 AED 210 AED 78.75

Replacement Card Fee will apply for all replacement / reissuance request(s) by customers for their Credit Card.
No Liability / Liability AED 52.5 will be charged upon request for No Liability / Liability letter from Emirates Islamic
Foreign currency transaction fee
Emarati / Skywards Black Credit Card All other Credit Cards
1.84 % 2.34 %

This fee is charged on all foreign currency transactions on the Credit Card. This fee is charged in addition to the standard processing fee charged by Mastercard International or Visa International and is applicable to transactions performed outside UAE (approximately 1.15%).
Foreign currency transaction in UAE dirhams 1.99% currency conversion fee is charged for transactions where customers may sometimes be offered the option to settle foreign currency transaction in UAE dirhams at the point of sale overseas. Such option is a direct arrangement offered by the overseas merchants and not the Bank (card issuer). In such cases, customers are reminded to ask the merchants for the foreign currency exchange rates and the percentage of handling fees to be applied before the transactions are entered into since settling foreign currency transactions in UAE dirhams may involve a cost higher than the foreign currency transaction fee.
Duplicate Statement Copy AED 26.25 or AED 47.25 (for Statement over 3 months old)
Shariah based Murabaha All our Credit Cards are based on a Shariah compliant structure of Murabaha. Murabaha is a form of contract of sale whereby the Bank sells Wakala Certificates which are being purchased and in the possession of the Bank against a price which is equal to cost of acquisition and a defined profit.

Important Links
Additional Information
  • Bank, without referring to the Customer, may debit the Customer’s accounts with any charges, expenses, or commission payable against the banking services rendered in accordance with the approved and announced banking charges and commissions.
  • Bank may from time to time, and at its sole discretion, change or amend any of the Terms and Conditions pertaining to this product. Such changes will be communicated to you with a 60-day prior notice.
  • There may be circumstances in which you have to pay other fees.
Warning !!!

If you do not meet the repayments/ payments on your financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.

Warning !!!

If you make only the minimum repayment/payment each period, you will pay more in profit/fees and it will take you longer to pay off your outstanding balance.

Warning !!!

In case you fail to fulfil your obligations as per the product Terms and Conditions, before and during your relationship with us, there will be consequences including, but not limited to penalties.

Warning !!!

You are required to provide the Bank with copies of your updated documents at all times (Emirates ID, Passport, Visa, Trade License, etc.). Not providing these documents might result in the charges, transactions being restricted, account being blocked, or account being closed.

1Annualized Percentage Rate (APR) for Purchase Illustration:

Transaction
Transaction Date July 1, 2021
Transaction Amount AED 2,000
Statement Date July 6, 2021
Minimum Amount Due (5% of the retail purchase) AED 100
Amount Due AED 2,000
Payment Due Date July 31, 2021
Monthly profit Rate 3.25% of the unpaid credit card bill
Scenario: Minimum payment before the due date
Total payment made AED 100
Payment Date July 21, 2021
Next Statement Date August 6, 2021
Transaction done between July 6 to August 6 NIL
On statement Date: 06/08/2021, following Billed Profit will be levied:
a) Billed Profit on AED 2,000 for 20 days (from 1 July - 20 July) 42.74
b) Billed Profit on AED 1,900 for 16 days (from 21 July - 5 Aug) 32.48
Total Billed Profit charged in the statement dated 06/08/2021 76.22

Note: AED 2,000 credit balance with an 39.0% annual rate, with a minimum payment of 5% of the balance, or AED100, whichever is greater, would take 33 months or just over 3 years to pay off.