Three of the best profit-bearing, Sharia-compliant savings accounts with Dh1m prize draws

ADCB Millionaire Destiny Savings account

Benefits: Get a chance to win Dh1 million in the monthly draw or one of 10 prizes of Dh10,000 each. The savings account comes with a debit card with profit paid to the account every quarter. ADCB TouchPoints, the bank’s loyalty programme, are also earned on account balances.

Beware of: Customers must maintain an average balance of Dh5,000 to be eligible for prizes.

Emirates Islamic Kunooz Savings account

Benefits: Every Dh1,000 stashed in this Emirates Islamic account by savers is equivalent to one entry to win either Dh1m, a studio apartment or a Bentley car in a rotating monthly prize draw. There are also three daily prizes of Dh5,000. A quarterly profit rate is applied to the account.

Beware of: Customers must have a minimum of Dh5,000 in the account to qualify for the draw.

National Bonds

Benefits: National Bonds accounts have access to prizes including Dh1m every quarter (with one prize for Emiratis and one for expats) and two BMW cars every month. Prizes also include smaller cash amounts as well as draws for female or child bondholders. Profit rates are applied annually.

Beware of: Eligibility for prizes depends on the number of bonds held, length of holding and whether have a regular savings plan.

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