Is Gulf Savings Account Sharia-compliant?

Gulf Savings Account: Not classified as Sharia-compliant.

Which countries is Gulf Savings Account available in?

Gulf Savings Account is available in: Kuwait.

Can Gulf Savings Account be opened online?

Yes — Gulf Savings Account can be opened fully online.

What is the return or profit rate for Gulf Savings Account?

The return rate for Gulf Savings Account is 2.50%.

Gulf Savings Account

Q360 Score85/ 100

Gulf Bank · Savings Account

Visit Gulf Bank website

Best for

Fully digital openingDigital-first users

Watch out

Requires a minimum balance

0.025%Profit rate

500 KWDMinimum balance

Qrar360 Decision Brief

What is this product?

A savings account from Gulf Bank.

Who it may suit

Fully digital opening
Digital-first users

Consider if

You want to open digitally

May not suit

People keeping low balances

Important conditions

Requires a minimum balance

Facts not yet fully verified

the last verification date

Key facts

A conventional interest-bearing savings account from Gulf Bank, open to both Kuwaiti and non-Kuwaiti residents, with a low opening deposit and interest paid once the balance reaches KD 500 (0.025% per annum, calculated daily and credited monthly). Includes a free MasterCard Electron ATM card and free online banking access, with unlimited withdrawals, in KWD only.

Product TypeSavings Account

Primary CurrencyKWD

Sharia StatusNot classified as Sharia-compliant

Product Analysis

Annual profit / interest rate: 0.025%.
Minimum balance required: 500 KWD.

Qrar360 Score for this productQ36085

Sources & methodology

Why this score?

Coverage 75% · Confidence 77%

Strongest verified factors

Digital account opening100% · weight 20
Minimum balance95% · weight 20
Qrar360 data verification100% · weight 15

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Availability by Country

KuwaitAvailable

Provided By

This product is provided by . For the institution's licenses and regulatory status, see its profile page.

Sources & verification

✓ Provider identity & licence verified4 facts verified against official sources

View official source ↗

Verified facts on this page are linked to their official sources.

Frequently asked questions

Is Gulf Savings Account Sharia-compliant?: Gulf Savings Account: Not classified as Sharia-compliant.
Which countries is Gulf Savings Account available in?: Gulf Savings Account is available in: Kuwait.
Can Gulf Savings Account be opened online?: Yes — Gulf Savings Account can be opened fully online.
What is the return or profit rate for Gulf Savings Account?: The return rate for Gulf Savings Account is 2.50%.

The information shown is based on data available to Qrar360 and may not reflect the institution's latest changes. Please verify with the product's official source before making any financial decision. This content does not constitute financial advice and does not rank or favor any product.