What is Al Awwal Savings Certificate?
Emirati Al Awwal Savings Certificate is developed particularly for UAE nationals, and they entitle you to frequent draws and the possibility to win AED 1 million and other prizes.
What are the features?
- Only available to UAE nationals.
- Each Emirati Al Awwal certificate is worth AED 1,000.
- The certificates are only available in AED.
- The minimum holding period for monthly draws is 30 days, and 90 days for quarterly and annual draws.
- Certificates can be acquired on behalf of a minor at attractive assured profit rates that will be credited annually to the connected account.
- Each certificate entitles you to one entry into the regular draws.
- Shariah-compliant
- You can apply here.
How much is the winning amount?
- Mega prize of AED 1 million for one winner, per year
- Quarterly prize of AED 200,000 for one winner
- Monthly prizes of AED 5,000 for 20 winners
- The anticipated profit rate of 0.50% p.a.
What is the cost?
- There is no application charge, but cashing in the certificates before the end of the lock-in period, which is 30 days for the monthly draw and 60 days for the bi-monthly draw, carries a 2% penalty.
Who is eligible for Al Awwal Savings Certificate?
- UAE Nationals
- Account for individuals & Minors
What documents are required?
- A copy of a valid passport, residence visa, or Emirates ID is required along with original documents.
- Completed Fixed Deposit Application Form
- Additional papers may be requested on a case-by-case basis.
How do I claim my prize?
- The bank will notify all winners of their winnings. The winning numbers will be announced to the public via any advertising channel at the bank’s discretion.
- To get the award money, original certificates must be provided. The reward money will be distributed if valid identification is provided.
- The winners will be chosen at random by a computerized system from the total number of active and valid certificates on the day of the drawing.
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