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What is Emirates Islamic Bank Credit Card?
Emirates Islamic Bank Credit Card is a credit card which is fully and truly compliant with Shari'a principles. No interest is charged on the outstanding amount of the credit card. The card retains the flexibility and convenience associated with normal credit card.
What is the Islamic concept used in Emirates Islamic Bank credit card?
The card is based on Ijarah or service charge. In this case, a yearly service charge is levied depending on the credit card type.
How does Emirates Islamic Bank credit card works?
The card works similar to conventional credit cards; however, Emirates Islamic Bank credit card is a Shari'a compliant card (no interest, no hidden cost). The card only charges an annual fee which is payable on a monthly basis.
Is Emirates Islamic Bank Credit Card the same as charge card?
Emirates Islamic Bank credit card is NOT the same as charge card. The card allows customer to pay a minimum monthly amount of 5% of the outstanding balance or AED100 (whichever is higher) as opposed to charge card where full amount is payable on payment due date.
What are the features of Emirates Islamic Bank credit card?
| a. |
Allows minimum payment of 5% of the amount outstanding. |
| b. |
In harmony with the principles of Shari'a which gives the client peace of mind |
| c. |
Effective financial planning as the customers know the true cost of using the credit card |
| d. |
Transparent pricing and no hidden charges |
What are the product benefits?
| a. |
Worldwide acceptance at over 30 Million establishments |
| b. |
Free supplementary Cards |
| c |
Cash Advance Facility |
| d. |
Up to 55 days grace period |
| e. |
Free online access |
| f. |
Utility bill payments |
| g. |
24 hours assistance through a dedicated call centre |
| h. |
Free card delivery |
| i. |
Free Emirates Islamic Bank account with no minimum balance requirement |
| j. |
Settlement by cash/cheque or direct debit to your Emirates Islamic Bank account |
What is the maximum limit for each type of card?
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For Classic card - AED8,000 |
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For Classic Plus card - AED13,000 |
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For Gold card AED16,000 |
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For Gold Plus card - AED25,000 |
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For Platinum Card AED 37,500 |
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For Platinum Plus Card AED 62,500 |
Note: Please note that in case of Platinum card, requests for higher limit should be communicated to Retail Processing Centre (RPC).
How much is the annual fee?
*Annual fee will be applied on card issuance.
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For Classic card - AED 100 |
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For Classic Plus card - AED 150 |
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For Gold card AED 200 |
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For Gold Plus card - AED250 |
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For Platinum Card AED 300 |
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For Platinum Plus Card AED 350 |
How much is the Monthly fee?
*Monthly fee will be applied only on card activation.
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For Classic card - AED 125 |
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For Classic Plus card - AED 200 |
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For Gold card AED 275 |
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For Gold Plus card AED 350 |
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For Platinum Card AED 550 |
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For Platinum Plus Card AED 900 |
How and where to make your Monthly Card Payments
For the monthly payment of your EIB Credit Card bill (which can be as low as 5%), you can simply use any of the following payment channels:
Cheque Payments: Drop Box or by Mail
- Simply send a cheque in favor of EIB Credit Cards by mail to the EIB Card Centre (address pre- printed on card payment envelope enclosed with your card billing statement), or through the drop box facility available at all designated branches.
- Please remember to write your name and Credit Card number at the back of the cheque and send it enclosed with the detached payment slip from the bottom portion of your card statement.
- Please do not send any cash inside your payment envelope.
- Payment by cheque is first sent for clearing and only after funds are received, payment is posted to your account. This procedure takes approximately 3 to 5 working days.
Pay Bills Online
Being an Emirates Islamic Bank account holder, you can pay your monthly Credit Card bills online. Just log onto www.emiratesislamicbank.ae.
If your Credit Card account is not linked, then simply call our Customer Service Centre on 04 316 0101 for assistance.
Auto Payment Facility-Online
Schedule your monthly bill payment through BankNet (online banking) by using the Auto Payment Transfer facility. If you hold an Emirates Islamic Bank account you can arrange for your monthly bill to be automatically deducted from your account all at the click of a button.
Cash at Counter
You can make cash payment at all Emirates Islamic Bank branches during banking hours.
Cash Deposit Machines
You can make your Credit Card payment through our Cash Deposit Machines even if you don't have the physical Card with you. All you need is your card number.
Is there a fee/charge for cash advance?
A fee of AED 90 per transaction will be levied for cash advance; cash advance per transaction is limited to AED 3000 for all credit card types.
Is there any cost for replacement of card?
Yes, there is a fee of AED100 for card replacement irrespective of credit card type.
What are the eligibility criteria for the Emirates Islamic Bank credit card?
| a. |
Minimum Salary requirements depending on the credit card type
AED 3000 - Classic Card (maximum limit 8000)
AED 4001 - Classic Plus Card (maximum limit 13000)
AED 6500 - Gold card (maximum limit 16,000)
AED 8000 - Gold Plus card (maximum limit 25,000)
AED10,000 - Platinum card (maximum limit of AED 37,500)
AED15,000 - Platinum card (maximum limit of AED 62,500) |
| b. |
Salary assignment is preferred but not required |
What are the documents required for the Emirates Islamic Bank credit card?
a.
b.
c.
d. |
Passport or ID copy
Undated security cheque for full credit limit plus 5%.
Previous bank statements (only for those who don't have an account with EIB or EBI)
Employment Information (I.e. Salary Certificate, trade license and financials) |
What happen if a person used the credit card over the limit approved?
The amount over the actual credit limit will immediately fall due and to be paid once the bank statement is delivered to the customer.
A fixed fee of AED 75 will be charged for any over limit irrespective of the amount for the over limit.
Any charges levied for statement copy request?
A fee of AED25 will be levied per monthly statement provided the requested statement is less than 3 months. For any request of statement copy which is more than 3 months a fee of AED100 per copy will be levied irrespective of the card type.
Any Late Payment fees?
A late payment fee of AED 150 will be levied if minimum payment due is not made on or before the due date. | 
