Sovereign 30 Account

A convenient and accessible savings account, paying an enhanced rate of interest where immediate access to funds is not required.

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  • Make an unlimited number of withdrawals without penalty, providing 30 days’ notice can be given before each withdrawal.
  • Make one withdrawal of up to Dhs2,500 without notice each calendar year, as long as the account balance remains at Dhs5,000 or more; subsequent no-notice withdrawals will incur a charge equivalent to 30 days’ interest on the sum withdrawn.
  • Minimum opening balance of Dhs5,000.
  • Interest paid on balances above Dhs5,000.

Eligibility

Also available to clients with self-invested personal pensions (SIPPs).

Apply via your accountant or financial adviser.

Please note that we will not open the account without the correct value of deposit being received and will write to you to request the correct value of deposit if it is not supplied with your application.

Up to four joint account holders.

Account holders must be 18 or older.

This account is subject to availability and may be withdrawn from sale at any time without notice.

 

More information

  • The interest rate information on this page relates to Issue 3 of this product, for Issue 2 and Issue 1 interest rates please visit our Interest rates page.
  • Credit interest to a linked account each month for easy access, as long as the account balance remains at Dhs10,000 or more.
  • Open an account in three to five days, with no appointment needed.
  • The account can be managed online, by phone or by post.
  • No overdraft facility available.

Interest rates

Rates may vary and are correct as at 31 August 2018. Interest rates are variable. Interest is calculated daily and credited monthly.

Sovereign 30 Account (Issue Three) - Dhs Dirhams

Balance Gross % p.a. AER % p.a.
Dhs5,000+ 0.90% 0.90%

Rates apply to Issue Three of this product.

The gross rate is the interest rate we pay where no income tax has been deducted.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

    How to apply

    Please contact your financial adviser or intermediary if you wish to apply for an account with Diamond Microfinance. If you don't have a financial adviser or intermediary, please contact us on to discuss your options.

    Step 1:Read and save the following documents:

    Although you should apply via your financial adviser or intermediary we have provided the relevant documentation required for an application. It's important that you fully understand the account, interest rates and the relevant Terms and Conditions before submitting an application.

    View the interest rate for the account you would like to apply for

    Step 2:Please contact your financial adviser or intermediary:

    Please contact your financial adviser or intermediary to discuss opening the account and completing an application form.

    If you don't have a financial adviser or intermediary, please contact us on to discuss your options.

    Once your financial adviser or intermediary has sent in your application, it will usually be processed within 5 days of us receiving it, as long as the application form is completed correctly and accompanied by all required documents. Application forms we receive which are incorrect or incomplete will be automatically returned.

    Literature downloads

    Account Fact Sheets

    Application Forms

    Additional important literature about your account

    Terms and Conditions

    Renewal Mandate

    Literature downloads

    Account Fact Sheets

    Application Forms

    Additional important literature about your account

    Terms and Conditions

    Literature downloads

    Account Fact Sheets

    Application Forms

    Additional important literature about your account

    Terms and Conditions

    Renewal Mandate

    Why choose Diamond Microfinance?

    We have decades of experience working in the Canada, aiming to deliver a high level of customer service whenever you need help.

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