Mabrook Savings Account: An ultimate Guide

Mabrook Savings Account: An ultimate Guide

What is Mabrook Savings Account?

Customers of CBI can win AED 100,000 every month, AED 500,000 bi-annually, and AED 1 million in the yearly Mabrook Savings Account super draw using the Mabrook Savings Account.

Customers who register an account with a minimum deposit of AED 1,000 are automatically enrolled in the monthly, semi-annual, and annual draws. Customers’ chances of winning improve with each additional deposit of AED 500 or higher.

Who is eligible/to participate?

  • If you are a UAE national or ex-pat with a valid residency visa.
  • you can open a Mabrook Savings Account. Accounts can also be formed in joint names with a proper repayment clause.
  • The only requirements are that you have a Mabrook Savings account and that your available amount is at least AED 10,000.
  • The prior month’s average balance must have been AED 10,000.
  • Each additional multiple of AED 500 in the account during the preceding month will be eligible for one prize draw entry.

What documents are required?

  • Must carry an original passport.
  • Valid Emirates ID
  • Valid visa for expatriates
  • Address verification (Bank Statement, Utility Bills, Employer Letter, Tenancy Contract).
  • In the case of a minor account, a birth certificate/passport is required.

What are the features?

  • Free international debit card
  • Free life insurance
  • Interest is paid semi-annually at 0.1 percent per annum.
  • Children and joint account holders can both open accounts.
  • Every year, five main prizes are awarded.
  • AED 1 million in top prizes are awarded every year.
  • Every quarter, a cash prize of AED 100,000 is drawn.
  • AED 10,000 held in your account for the month prior to each draw is the minimum qualifying average balance.

What is the fee?

  • You can check here.

How draw held?

  • The Department of Economic Development, the Government of Dubai, and the CBI Marketing Team oversee and conduct each Mabrook Draw.

How do I know if I won?

  • The branch where the winner’s account is held will notify them.
  • To claim the prize money, the winner must go to the branch and present their ID and bank account information.
  • The reward money will be deposited into the winners’ Mabrook Savings Account once it has been validated. Winners will be contacted by phone, so make sure your contact information is up to date.
  • The award must be claimed within 60 days after the winner’s notification, as per regulatory restrictions.
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