ADCB Millionaire Savings Accounts – A Complete Guide!

The two most recent million-dirham recipients of the Millionaire Savings Accounts offered by Abu Dhabi Commercial Bank (ADCB) Islamic Banking was revealed, boosting the year so far the cumulative number of millionaires named to seven.

Since 2009, 137 people from different walks of life have become millionaires thanks to ADCB’s Millionaire Savings Accounts, and they still assist clients in accomplishing their objectives.

What Are ADCB Millionaire Savings Accounts?

Dr. Ahmed A. M. is the most recent recipient of the monthly sweepstakes for ADCB Millionaire Destiny Savings Account depositors, which awards AED 1,000,000. Dr. Ahmed A. M. started his ADCB Millionaire Destiny Savings Account (MILLIONAIRE DESTINY SAVINGS ACCOUNT) in December 2019. Mr. Mohamed M. J., investing with ADCB Islamic Banking since 2015, is another victor of AED 1 million from the Emirati Millionaire Savings Account (EMSA).

Both winners expressed gratitude to ADCB Islamic Banking after hearing the good news regarding their victories. A medical practitioner becoming one of the most recent awardees is a delight because the medical community played a significant role in the COVID-19 pandemic.

With a minimum balance requirement of just 5,000 AED, the ADCB Millionaire Destiny Savings Account and EMSA encourage consumers to save consistently while offering them the possibility to win cash prizes totaling more than 26 million AED yearly for the two types of accounts. One additional entry into the prize draw is available for every incremental AED 1,000 saved by the account user.

Every month, the Millionaire Destiny Savings Account draw also awards ten prizes of AED 10,000 each and 100 prizes of AED 5,000 each in conjunction with the jackpot of one million dirhams. AED 1,000,000 is up for grabs twice a year, with AED 250,000 each month and AED 10,000 daily for EMSA customers.

What Is Essential To Understand About ADCB Millionaire Savings?

For those looking to start a savings account, ADCB bank provides several possibilities. From its attractive touchpoints to its competitive profit rates, ADCB Bank offers a variety of savings account options. With the chosen savings account, there are also financial fortunate draw incentives. Every month and every three months, a lucky draw prize winner will get a million AED. At the same time, the other lottery winners will receive AED 500,000 and AED 100,000. Indeed, only a small group of consumers with a specific savings account are eligible for this lucky draw option.

Additionally, customers with a savings or current account with the ADCB bank are eligible to apply for an account with no required threshold. The ADCB Active Saver Account is the name given to this account. If one chooses to open an Active Saver account with ADCB, they may do so via the bank’s mobile app.

How Can I Participate In This ADCB Saving Plan?

As you read on, the Millionaire Destiny Savings Account from ADCB becomes more straightforward for anyone who may have questions. This essay will cover every one of your concerns. With the help of its Shari’ah-compliant Millionaire Destiny Savings Account and Emirati Millionaire Savings Account products, ADCB Islamic Banking assists clients in realizing their aspirations and becoming millionaires by encouraging a culture of saving among UAE residents and nationals. All nationalities residing in the UAE may open a Millionaire Destiny Savings Account, but Emiratis are the only ones who may open an Emirati Millionaire Savings Account. These accounts may be extended by anyone at least 18 years old by presenting a few straightforward documents at an ADCB branch or online. With their parents’ permission, minors can open accounts.

• Opening an account with ADCB and providing all the requested information during online registration is the first step in starting the procedure.
• Everyone in the UAE, both residents, and non-residents are welcome to register an account. ADCB doesn’t exclude anyone based on their nationality.
• The navigation bar’s ‘Accounts’ section might have a link for opening an account. Examine and double-check your details after clicking “Open an Account Online.”
• You can select either the “Emirati Millionaire Savings Account” or the “Millionaire Destiny Savings Account” from the drop-down menu.
• To participate in this savings plan, there is a catch. A monthly average balance of AED 5000 is needed to be eligible for the prize draw and to receive prizes.
• If you are unfamiliar with the process, follow these steps to compute the average monthly balance. The average monthly ratio can be calculated by adding up the daily balances of the ADCB Millionaire Destiny Saving Account and dividing them by the number of days in the month.

What Considerations Should You Make Before Choosing ADCB Millionaire Savings?

If you struggle with saving money or don’t understand its value, you may be asking what value a saving plan like the one offered by ADCB has for its members. The benefit of saving money is that it lessens the impact of unforeseen bills and financial problems. Saving money can also give you a greater sense of financial independence by enabling you to pay off significant expenditures, stay out of debt, minimize financial stress, and pay for large purchases. To participate in the ADCB Millionaire Destiny Savings Account, you must carefully adhere to the following requirements, as set forth by the ADCB:

• To participate in the prize draws, you must have a minimum average monthly balance of 5,000 AED.
• If the average amount of either your ADCB Millionaire Destiny Savings Account or Emirati Millionaire Savings Account (EMSA) falls below AED 3,000 per month, a monthly maintenance fee will be charged. Only clients with either MILLIONAIRE DESTINY SAVINGS ACCOUNT, EMSA, or both products will be assessed an AED 25 cost.
• If a customer holds additional products besides ADCB Millionaire Destiny Savings Account and EMSA, standard relationship-based pricing will be applied following the client segment.
• Those searching for the vehicle promotion should know that it will launch on October 1 and run through November 30 this year.
• The automobile campaign draw will be held in December 2022, so the participants will know the outcome before the year’s end.

What Are The Lists Of Rewards That Are Included With This Savings Plan?

• A prize fund of AED 2,000,000 is awarded every six months. Nevertheless, the lottery system is used to determine the winner.
• Additionally, ADCB promises the fortunate contestants one reward of AED 1,000,000 each month.
• There are ten prizes totaling AED 10,000 available each month to 10 lucky winners.
• Additionally, this plan perfectly satisfies your craving if you’re a motor vehicle freak. Every October and November, one lucky participant will have the chance to win a Nissan Patrol automobile through this promotion.

More Specifics Regarding This Savings Plan

• Typically, a fee must be paid before issuing a debit card. The Millionaire Destiny Savings Account program from ADCB is an exception to this. This program provides a debit card without charge, making it more alluring and advantageous.
• Although fewer services are available if you use alternative financial services, aspire, Privilege Club, and Excellency are the three services offered by ADCB from which you can select the best option.
• It bears repeating that an average monthly balance of at least AED 5,000 must be maintained to be eligible for the prize draws.
• The transaction will be made more accessible by employing the phone and internet banking options available with this account.

Final Verdict

Having a stable financial future and accumulating wealth depends on several important factors, one of which is saving money. You may escape life’s uncertainties by saving money, which also allows you the chance to live a decent life. You may navigate over many of life’s humps and crags by setting aside money in a systematic way.

In times of need, it can help you and give your family a safety net in case something terrible happens. The peace of mind from knowing that you have saved up a certain amount for emergencies is priceless. Knowing you won’t struggle if circumstances take an unexpected turn allows you to live without stress.

Even after reading the in-depth examination of the ADCB Millionaire Destiny Savings Accounts provided above, some consumers may still have questions. You may start saving immediately by reading through these FAQs and answers, which should help dispel any last-minute confusion.

Frequently Asked Questions

Q. What is the procedure for using ADCB’s online banking services?

A. You can use the financial services of ADCB by downloading the mobile application Hayyal.

Q. What advantages come with opening an account through Hayyak?

A. To offer convenient banking services, ADCB has created the Hayyak app. It goes quickly and simply, and you can easily access any assistance with a touch or swipe. Additionally, Hayyak allows you to gain touchpoints.

Q. Is it possible for a corporate customer to hold an Active Saver account?

A. No, corporate clients are not permitted to open an active saver account. Individual bank clients are the only ones who can open an Active Saver account.

Q. The ADCB savings account lucky draw is open to all customers, right?

A. No, each client has a different chance of winning the fortunate prize draw. Only users of a particular millionaire savings account can enter the drawing for the lucky reward. The consumers must also meet a minimum balance requirement in their ADCB savings accounts to be eligible for the random draw.

Q. With the ADCB bank inside the UAE, how many different savings accounts are out there?

A. There are five different types of savings accounts offered by the ADCB bank. These accounts include ADCB Hayyak, ADCB Millionaire Destiny, Emirati Millionaire, Active Saver, and Savings and Call Accounts.