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Future Account

Think ahead… and achieve your financial goals with a clear and flexible plan

Join NowTerms and Conditions

Benefits of Future Account

The “Future Account” is a savings account that helps you achieve your financial goals through a monthly savings plan, You commit to a specified saving period ranging from 6 months to 5 years, and at the end of the term, you receive the full amount you saved along with the expected profits.

Requirements to issue a future account
Have an existing current account 

Savings plan

A clear savings plan with fixed monthly installments

Flexible duration

From six months up to five years

Automictic deductions

Deductions are made automatically from your current account every month

No administrative fees

Tracking

Easy plan tracking through alrajhi app

Accumulated profits

Accumulated profits are paid at the end of the plan

Build financial discipline

An effective way to build financial discipline and achieve a clearly defined financial goal

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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Via Branches

There is always a branch nearby

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.