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Future Account

The Future Account is a saving plan account in accordance with Islamic Sharia in which the customer sets a monthly amount automatically deducted from the customer's current account, and the system calculates the expected profits based on the...

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Benefits of Future Account

Get key benefits and convenience with Future Account, designed to enhance your banking experience. 

Requirements to issue a future account
Have an existing current account 

Achieve Savings Goals

Set duration, deduction amount, and profit as per Sharia.

Earn 1,000 Mokafaa Points

Get 1,000 Mokafaa points by opening a Future Account. 

Automatic Savings

Automatically deduct monthly payments on chosen dates. 

Competitive Profit Rates

Enjoy competitive rates on your savings and investments.

Fully Digitalized Account

Open and manage your account through the Al Rajhi app.

Create or Cancel Savings Accounts

Create or cancel savings accounts anytime without any fees.

Late Payment Flexibility

Add balance later if funds are unavailable at deduction time.

Illustrative Examples:

Saving Type Monthly deductionDurationAERValue of expected profit by end of periodTotal savings plus expected profitProfit Sharing Rate
Short Term SAR 1,500 12 Months 2.23% SAR 218 SAR 18,218 SAR 67,756
Long Term SAR 1,000 60 Months 4.77% SAR 7,756 60% 60%

AER: is an Annual Equivalent Rate, is a figure which shows what the profit rate on an account would be if profit was paid for a full year and compounded.

 

*AER may differ depending on the period different form the above example. which is changeable and non-fixed return that is regularly announced to customers on the bank's eChannel’s.

Eligibility and Criteria:

Existing current account with
 Al Rajhi bank

Approve the Terms & Conditions

Terms and Conditions

No Fees in creating/cancelling the account

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Frequently Asked Questions

Get answers to the most frequently asked questions about our service. 

What is the minimum and maximum subscription to the future account?
Tenor  Minimum Monthly Deposit in SAR  Maximum Monthly Deposit in SAR Minimum Subscription in Months  Maximum Subscription in Months
Short term 100  10.000  6  12 
Long term  300  10.000 13 60 

Is the amount deducted a financial obligation when requesting bank loans?
The future account is a savings account and it is not considered a type of financial obligation.
Who is eligible to open Future Account?
All bank customers Saudi and non-Saudis who have active current account over the age of 18.
Can I withdrawal from Future Account?
You can only withdraw from your future account by cancelling the account
Are there fees in opening or cancelling the future account?
There are no fees in opening or cancelling the Future Account.
Does the account pay zakat on the amount in the account?
Does the account pay zakat on the amount in the account?
What are the options for the dates specified for monthly payments?
The customer can choose from the following calendars:26,27,28,29,30 of the month of Gregorian date.
Can you open more than one future account?
The customer can open 2 future accounts per customer.
What is the procedure if the amount is not available in the customer's account on the date of the monthly payment deduction?
The customer can add credit to the savings future account at a later date.
What happens if the monthly deduction amount is delayed?
the customer is late in paying the agreed monthly deduction amount for more than 30 days for the short-term plan and 90 days for the long-term plan, the bank has the right to cancel the customer's plan, which is an early withdrawal from the savings plan, and determines the customer's entitlement in accordance with the provisions of early withdrawal.