Alwan Children's Saving Scheme
Alwan Children's Saving Scheme is designed to encourage your children to enjoy saving, so kickstart those good financial habits with a regular savings plan that earns interest.
Features and Benefits
- Continue to invest into the Alwan Savings Scheme until your 18th birthday
- A minimum balance of AED 500 is required to open an alwan account, and there is no maximum on the amount which can be deposited.
- Easy to convert to a standard savings account or a Fixed Deposit Account once you're 18
- 5 withdrawals of up to AED 10,000 each every year free of charge
- Minimum regular monthly contribution of AED 200
Children of both UAE Nationals and expatriates with a valid residency visa.
If you'd like to open an account, the following documents are required:
- Copy of the child's passport, Emirates ID and residency visa for expats
- Copy of the Family Registration Book for UAE Nationals
- Copy of father or guardian's passport, Emirates ID and residency visa for expats
- To obtain an Indemnity Letter from the Parent or Guardian
- Two recent passport-sized photos of the applicant (child)
Terms & Conditions Apply
Al Kanz Deposit
Unique monthly investment scheme. Save as little as 200AED monthly and earn great returns.
Choose when you want your funds to mature and enjoy a preferential interest rate