Murabaha Deposit

Discover the smart way to grow your wealth with Murabaha Deposits by meem. Designed to align with your values and financial goals, our Murabaha Deposits offer competitive and flexible investment solutions to meet your financial needs.

Last update on 17/1/2024

Features

Welcome to the world's first real-time Shariah-compliant term deposit. Buy and sell Murabaha commodity online anytime, anywhere. We have a range of tenors to suit your needs.

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Discover rates that stand amongst the best, with offerings that reach up to 5.90% for SAR and 5.18% for USD!

Indicative profit rates as of 12th of February 2024. For accurate rates please log into the meem mobile app.
SAR Deposits - Tenor in Days 30 90 180 360
1,000 – 25,000 SAR 

4.97%

5.16%

5.23%

5.38%

25,001 – 200,000 SAR 

5.02%

5.21%

5.28%

5.43%

200,001 – 1,000,000 SAR 

5.07%

5.26%

5.33%

5.48%

1,000,001 – 20,000,000 SAR 

5.17%

5.90%

5.48%

5.53%

USD Deposits - Tenor in Days 30 90 180 360
5,000 – 75,000 USD 

3.46%

3.21%

4.58%

4.70%

75,001 – 150,000 USD 

3.96%

4.61%

4.83%

4.80%

150,001 – 250,000 USD 

4.21%

4.91%

5.08%

4.90%

250,001 – 10,000,000 USD 

4.46%

5.11%

5.18%

5.00%

Fees and charges

Murabaha Deposit

Charges

Early withdrawn charges exceeding 20%

100% of the profit amount will be forfeited from the withdrawn amount

In case of receiving commodity's order

SAR 2,300

Early liquidation charges

Profit amount Forfeited

Example: Murabaha
Term Deposit (one month)

Minimum Deposit Amount

Equivalent annual rate

Number of withdrawals in the first year

Number of withdrawals in the second year

Total Profit

1,000.00

5.14%

Once

Not applicable

SAR 4.28

*Given that the deposit is limited to a period of (one month) only

** As per the bank’s policy, there is no maximum amount for the deposit

** Refer to the fees and charges file

Example: Murabaha
Term Deposit (three months)

Minimum Deposit Amount

Equivalent annual rate

Number of withdrawals in the first year

Number of withdrawals in the second year

Total Profit

1,000.00

5.50%

Once

Not applicable

SAR 13.75

*Given that the deposit is limited to a period of ( three months only )

** As per the bank’s policy, there is no maximum amount for the deposit

** Refer to the fees and charges file

Example: Murabaha
Term Deposit (one year)

Minimum Deposit Amount

Equivalent annual rate

Number of withdrawals in the first year

Number of withdrawals in the second year

Total Profit

1,000.00

5.47%

Once

Not applicable

SAR 54.7

*Given that the deposit is limited to a period of ( three months only )

** As per the bank’s policy, there is no maximum amount for the deposit

** Refer to the fees and charges file

Frequently asked questions

Can I withdraw money from my Murabaha Deposit?

Yes, you can withdraw up to 20% of your money digitally via the meem mobile app with no effect on your Murabaha Deposit.

Is there any charges for withdrawals on my Murabaha Deposit?

If you withdraw up to 20%, no charges will be incurred. However, if more than 20% is withdrawn than all the profit will be forfeited.

How many withdrawals can I make in the first year?

You can make one withdrawal in the first year of your Murabaha Deposit.

Can I access my Murabaha Deposit online?

Absolutely. our digital banking platforms allows you to conveniently manage and access your Murabaha Deposit online or via the meem mobile app.

Is there a minimum deposit amount required to invest in Murabaha Deposits?

Yes, a minimum of SAR 1,000 is required to commence investing in meem Murabaha Deposits.

Is there a maximum deposit limit for Murabaha Deposits?

No, there is no maximum deposit limit for Murabaha Deposits.

In what currencies can I invest in for meem Murabaha Deposits?

We offer both Murabaha Deposits in both Saudi Arabian Riyals and US Dollars.

What are the maturity instructions at the end of my Murabaha tenor?

You are given three options, which are:

  • Reinvest the principal amount (purchase price) and transfer the profit to your account.
  • Reinvest principal amount and  the profit earned (deferred sale price).
  • Transfer principal amount and profit amount to your account.

Terms and Conditions

Click here

Download the app to get started

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