The Al-Wadi'ah Current account is designed to provide you with the full benefits of a chequing account and at the same time gives you the assurance that your money is used with guidance from our reputable Syariah Advisory Council.
Click here to know our Syariah Advisory Council.
Click here and our FAQ may help.
Click here to apply via our mail-in form now!
Dividend
No dividend (hibah) earned on this account.
Benefits
Pay your Zakat on your account conveniently & on time with our Zakat (tithe) auto-deduction service. Applicable only for personal accounts. Click here to find out more about our Zakat (tithe) Auto Deduction Service. This is an opt-in feature. Click here to opt-in.
A cheque book which allows you to make payment
Receive your new chequebook automatically even before your existing chequebook runs out
Comes along with an ATM card to allow you to withdraw or deposit cash at our ATMs and Automated Deposit Machines at all OCBC Bank Branches and Fastlanes
Receive monthly statement with all your transaction details
The account can be opened in a single name or up to a maximum of 8 joint names
24-hour account access through OCBC Internet Banking and OCBC Phone Banking
Available at all our branches
Requirements
Muslims and Non-Muslim individuals
All organisations (Islamic or non Islamic)
Minimum age of 18 years old and above
Profit seeking and non-profit seeking organisations
Societies and Associations
Religious organisations
Charitable organisations
Others (with proof of their non-profit status)
Minimum initial deposit of S$1,000
Apply Now
Visit any OCBC Bank branch today with your identity card and the minimum initial deposit to open the account. For non-Singaporeans, please bring your passport and employment pass/work permit.
For Singaporean & PR: Copy of NRIC (front & back).
For foreigners, copy of passport and employment pass/work permit.
If you do not have an existing OCBC deposit account, please submit any one of the following documents latest original document reflecting the same name and address indicated in the application form:
Telephone bill generated by SingTel, M1 or Starhub; OR
Any bank statement (savings, current, credit card or personal credit statement).
Fees
Fees
Non-Personal Account
Personal Account
Service Fee
S$15 per month if monthly average balance falls below S$3,000
S$7.50 per month if monthly average balance falls below S$3,000
Transaction Fee*
S$2 per cheque from the 11th cheque onwards if monthly average balance falls below S$1,000
* With effect from 1 April 2010, the new Cheque Book Fee for Personal Account of S$10 per cheque book will be chargeable and the current 'Transaction Fee' will no longer be appplicable.
Deposit Insurance Scheme
Singapore dollar deposits held by or for an individual or a charity in accounts listed in OCBC Bank's Insured Deposit Register (available at www.ocbc.com/policies) will be insured in accordance with and for up to the limits specified in the Deposit Insurance Act.
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