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ArabBank
Bahrain

Save money with step up interest rate with the new “e-Tawfeer” service through "Arabi Mobile” app

Arab Bank offers you the new e-Tawfeer service which allows you to save money online easily and conveniently through “Arabi Mobile” app in addition to a host of benefits including:

  • Preferential step-up interest rates for amounts up to BHD 20,000.
  • 500 welcome points upon opening the account and after making the 1st deposit.
  • Additional rewards points with the “Arabi Points” program
  • Ability to set the saving plan according to your needs and goals and the option to modify your plans at any time.

Saving made easier and more rewarding with the “e-Tawfeer” service …

Terms & conditions for “e-Tawfeer” saving account:

  • These terms and conditions apply to (e-Tawfeer) saving accounts opened through Arabi Mobile application.
  • e-Tawfeer saving account is subject to the manual of general and special terms for dealing with the accounts and the banking and electronic services with regards to all that is not provided in the terms and conditions of (e-Tawfeer) saving account and without any conflict with it.
  • The balance of the e-Tawfeer saving account shall not be less than the minimum limit determined by the Bank from time to time for saving accounts andsubject to saving accounts minimum balance fee disclosed in branches and website.
  • Without prejudice to the right of the Bank to debit the account and make clearance, no withdrawal or debit transactions may be made on e-Tawfeer account through ATM cards, payment and balance orders, internal and external transfers and / or to pay any bills or obligations for the Customer.
  • Credit interest calculated ascendingly on the lowest monthly balance and is credited to the account at the end of each month in accordance with the interest rates declared by the Bank from time to time.
  • If the Customer makes more than one withdrawal/transfer transactions from e-Tawfeer saving account, the interest rate of e-Tawfeer accounts shall be suspended during that month, and the standard saving account interest shall be applied according to the lowest interest rate declared by the bank on the lowest monthly balance.
  • In case the account is closed before the date on which the credit interest is applied, the interest will be computed on the minimum balance during the month preceding the closing date and shall be paid on the account closure date.
  • The advices and account statements of e-Tawfeer account are sent free of charge automatically through “Arabi Online” Service only.
  • Arab Bank shall have the right to amend the Arabi Points Program linked to the electronic saving accounts at any time.

e- Tawfeer IR calculator:

Brackets BHD

Incremented Interest rate %

 

0 – 500

0.25%

 

501 – 1,000

0.50%

 

1,001 – 5,000

0.75%

 

5,001 – 10,000

1.00%

 

10,001 – 20,000

1.25%

 

> 20,000

0.25%