Frequently Asked Questions

Last Updated on November 02, 2017
  • The United bank offers the shariaa compatible and Commercial Banking accounts.
  • The United Bank offers Debit cards for all accounts which can be used in withdrawal, purchases and deposits.

    Types of accounts:
    Investment accounts:
    The united bank offers shariaa compatible and Commercial Investment accounts:
    A) shariaa compatible accounts:
    - Customers are allowed to withdraw and deposit, with complete freedom, with a calculated varying return on the lowest balance available during the month.
    - The return is credited every 3 months.
    - Issuance of a check book is allowed for the customers .

    B) Commercial accounts:
    - Customers are allowed to withdraw and deposit, with complete freedom, with a calculated fixed return on the lowest balance available during the month.
    - The return is credited every 3 months.
    - Issuance of a check book is allowed for the customers .

    Saving accounts:
    C) shariaa compatible:
    - Customers are allowed to withdraw and deposit, with complete freedom, with a calculated varying return on the lowest balance available during the month.
    - The return is credited every 3 months.
    - Check book issuance is not allowed.

    D) Commercial:
    - Customers are allowed to withdraw and deposit, with complete freedom, with a calculated fixed return on the lowest balance available during the month.
    - The return is credited every 3 months.
    - Check book issuance is not allowed.

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    Current accounts:
    - This account can be opened for individuals and companies.
    - It has no return.
    - Issuance of a check book is allowed for the customers .

    Foreign Currency accounts:
    - We serve foreign currency accounts which are USD, EUR and GBP currencies in addition to any other foreign currencies according to the Dealing room instructions.
    - The minimum amount for opening any account is 500 $ or what is equivalent in other currencies.

The united bank offers Debit, Credit (Visa Credit Card/ Islamic Master Card Rakhaa ) and Prepaid cards.

What are the main features for each card?

  1. Credit cards

Rakaa Credit Card:

The First Credit card that is compatible to shariaa compliance in cooperation with Master Card.

  • Available in Classic and Gold.
  • Least Murabha return, with equal installments, up to 20 month.
  • Longest grace period up to 58 days.
  • The customer can apply for supplementary cards.
  • The card is available for usage online and abroad.
  • Allows 100% withdrawal and 100% purchases.

Visa Credit Card
Enjoy the United Bank Visa Credit Card with:
- No fees on purchases and low withdrawal fees.
- The monthly minimum payment is 5% out of last statement balance.
- Grace period up to 55 days on purchases and cash withdrawal.
-The customer can apply for supplementary cards.
-The card is available for usage online and aboard.
- Allows 100% withdrawal and 100% purchases.

Debit cards

Visa Electron/ Master Card:
You can use your account safely around the world in cash withdrawals and purchases, at any time through debit card (Visa Electron and Master Card).

Pre-paid cards:
Allow their holders to carry out different purchases and cash withdrawal transactions, inside and outside Egypt, with the possibility of recharging the card more than once through different UB branches and ATM’s covering all governorates.

It’s not a must to be UB customer to get the prepaid card.

What are the types of Deposits and Certificates united bank offers?

Certificates:
United bank offers the Islamic and commercial certificates.
The shariaa compatible certificates:
The three years certificates with monthly variable return:
- It is Available in EGP, and pays monthly.
- Its categories start from 1000 L.E.

The three year certificates with cumulative variable return:
- It is Available in EGP and pays at the end of the period.
- Its categories start from 1000 L.E.

The five years certificates with semi -annual variable return:
- It is Available in EGP, and pays semi – annually.
- It’s categories start from 1000 L.E.

The annual certificates in USD with quarter variable return:
- It is denominated In USD, and pays every three months.
- Its categories start from 100$.

The Commercial certificates:
Golden certificate “the three year certificates with cumulative return”:
- It’s denominated in EGP, and pays at the end of the period.
- Its categories start from 1000 L.E.

Diamond certificates “the three certificates with three monthly return”:
- It is denominated in EGP, and pays every three months.
- Its categories start from 500 L.E.

The five years certificates with monthly return:
- It is denominated in EGP, and pays monthly variable.
- It’s categories start from 750 L.E.

The USD certificates with quarter return: ( 3 Years )
- It is denominated in USD, and pays every three months.
- It’s categories start from 500 $.

The Millionaire certificate:
- It is a five year certificate starts from the purchasing date.
- The certificate value is 100 EGP.
- The millionaire certificate is renewed automatically.
- The millionaire certificate is issued without any extra charges.
- Both Egyptians and foreigners can buy it (only individual).
- The certificate prize (32 winner/year)
- 2 winners with the Million prize on per year.
- 3 winners monthly prize,
• 100 thousand EGP.
• 50 thousand EGP.
• 50 thousand EGP.

- The withdrawal is supervised by the ministry of social affairs – license No 19 of 2001 and its amendments.
- You can use this certificate as a gift.

Deposits :
We serve both of commercial and shariaa compatible deposits
Commercial deposits:
We can serve the commercial deposits with minimum amount EGP 5000.
Deposits with other currencies available according to the treasury instruction

shariaa compatible deposits:
Clients can choose to have one of our fixed period shariaa compatible deposits :
• Annual Deposits: The minimum amount to open is 100,000 LE with an accumulated return

• 18 months dollar deposit: the minimum amount 1000 USD with monthly interest .
• 2 years dollar deposit: the minimum amount 1000 USD with Quarter interest.