BML Islamic

Kids' Saver Account

Get your kids started on the good habit of saving at a young age with a Shariah compliant savings account.

For children below the age of 18 years, open an MVR or USD account within 5 days. You can keep a track of the account activity through internet banking, and schedule automatic transfers from your account.

Key features

Fully Shariah-Compliant and based on Wakalah bil isthismar (investment agency).
Available in both MVR and USD currency
Eligible for children below 18 years
Option to change to a normal savings account once child reach 18 years of age
No charges for scheduled transfer into the account
Keep track of account activity

Description	MVR	USD
Minimum balance	100	10
Minimum balance to earn profit	500	20
Expected Profit per annum	2.0%	1.5%

Open a Kids’ Saver Account

To open an account, please visit BML Islamic Male’ Branch or any other Branch located outside of Male’.

Useful downloads

BML Islamic Kids' Saver Account Form	English
BML Islamic - T&C	English