Saving Account
· Savings Account
Qrar360 Decision Brief
What is this product?
A savings account from Saudi National Bank.
Who it may suit
- No monthly fee
- Earns profit/return
- Fully digital opening
- Sharia-compliant
- People who need Sharia compliance
- Digital-first users
Consider if
- You want to open digitally
- You want savings that earn
Facts not yet fully verified
- the minimum balance
Key facts
SNB Saving Account: a Shariah-compliant SAR savings account whose funds are invested through an investment agency (wakala) structure. Annual Equivalent Rate 0.15% (annualized expected return), profit calculated on the end-of-day balance and paid monthly; no fees for opening or maintaining the account. Opened via SNB Mobile or branches; funds move only between the customer's own accounts and no mada card is issued.
Product Analysis
- Annual profit / interest rate: 0.15%.
- No monthly account fee.
Qrar360 Score for this productQ36072Sources & methodology
Why this score?
Coverage 70% · Confidence 90%Strongest verified factors
- Digital account opening100% · weight 20
- Monthly fee100% · weight 15
- Qrar360 data verification100% · weight 15
Compare this product
Compare it side by side with another product in the same category and market.
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Availability by Country
- Saudi ArabiaAvailable
Provided By
This product is provided by . For the institution's licenses and regulatory status, see its profile page.
Sources & verification
Verified facts on this page are linked to their official sources.
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Frequently asked questions
- Is Saving Account Sharia-compliant?
- Saving Account: Sharia-compliant.
- Does Saving Account have a monthly fee?
- No — Saving Account has no monthly fee.
- Which countries is Saving Account available in?
- Saving Account is available in: Saudi Arabia.
- Can Saving Account be opened online?
- Yes — Saving Account can be opened fully online.
- What is the return or profit rate for Saving Account?
- The return rate for Saving Account is 15.00%.
