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UAE: Eight banks that could turn you into a millionaire overnight

Besides participating in popular weekly raffle draws in the Emirates, there is also the potential to experience a life-changing windfall through savings account

Do you aspire to be a millionaire? It may sound unattainable to some people, but becoming a millionaire has nothing to do with your family's wealth, your degree or the designation you hold. It is entirely within your grasp and is determined by how smart you are with your money.

Several books and financial lessons outline strategies for becoming a millionaire. The road to achieving this milestone in the UAE might be easier than you imagine. Besides participating in popular weekly raffle draws, there is also the potential to experience a life-changing windfall just 8 banks away. Below are the eight UAE banks that could turn you into a millionaire overnight:

Ajman Bank announced the first winner of its Millionaire Savings Account's grand Dh1 million prize. The draw was held on July 13, 2023, when an automated system selected account holder Samiha Abdulqader as an instant winner.

The Millionaire Savings Account with Ajman Bank allows participants to win up to Dh1 million twice a year and ten monthly prizes of Dh5,000 each. Account holders can secure a raffle entry for every Dh10,000 saved by maintaining a minimum balance of Dh10,000.

The Mabrook Savings Account allows CBI’s customers to win Dh100,000 every month, Dh500,000 bi-annually, and Dh1 million in the yearly Mabrook Savings Account mega draw.

By opening a minimum amount of Dh1,000 account, customers are automatically enrolled in the monthly, half-yearly and annual draws. Every incremental deposit of Dh500 or more increases customers’ chances of winning.

People banking with ADIB can win up to Dh3 million (and other prizes) by saving Dh20,000 with the ADIB Ghina Savings Account. Here's how it works:

Open a Ghina account with a minimum deposit of Dh20,000 and get your first Ghina draw entry. For each Dh20,000 in your Ghina savings during one calendar month, you will earn an extra Ghina draw entry. If your account balance exceeds Dh250,000 within a full calendar month, you'll receive an extra Ghina draw coupon for every four coupons accumulated.

However, if your account balance falls below Dh20,000 at any time, you will lose all collected Ghina draw entries, including the welcome draw entry, and a new Ghina draw entry calculation cycle will begin accordingly. To enter the Ghina grand draw, the account holder must have at least four Ghina draw entries, with a maximum of 1,000 draw entries allowed per account per draw.

Open a Kunooz Savings Account in Emirates Islamic Bank and get a chance to win weekly, monthly and quarterly prizes. Customers can win a weekly cash prize of Dh10,000, a monthly prize of a Mercedes EQS, and a quarterly grand cash prize of Dh1 Million.

Every Dh5,000 saved gives customers one chance to win monthly and quarterly grand prizes. Every Dh1,000 saved gives them one chance to win the weekly cash prizes. If you are an existing customer, you can directly apply for a Kunooz Savings Account through online or mobile banking.

Millionaire Destiny Savings Account in ADCB gives customers a chance to win exciting cash prizes - Dh2 million )twice a year), Dh1 million (one winner every month) and Dh10,000 prize for ten winners every month.

However, customers should have a minimum average monthly balance of Dh5,000 to be eligible for the prize draws. A monthly maintenance fee of Dh25 will apply if your Millionaire Destiny Savings Account average monthly balance falls below Dh3,000.

Residents can open a savings account in Al Hilal Bank and stand a chance to win Dh1 million every month. To be eligible to enter the millionaire draw, customers must maintain a minimum average balance of Dh5,000 or transfer their salary to Al Hilal. Every additional Dh5,000 on your balance gives an extra draw entry – save more and increase your chances to win. Transfer your salary to an Al Hilal current or savings account and get an additional entry to the draw. The eligible minimum wage should be Dh5,000 per month.

20 customers can win Dh1,000 every month and are eligible for the draw if they maintain a minimum average balance of Dh1,000 or transfer their salary to Al Hilal.

Mashreq account holders can buy and redeem certificates instantly through Mashreq Online/Mashreq Mobile. One certificate is required to qualify for all prizes, including Dh1 million. By purchasing more than one Mashreq Millionaire Certificate, you multiply your chances of being the lucky person to win Dh1,000,000, plus other prizes.

There is no minimum saving criterion. However, a minimum of three certificates must be purchased for every transaction. All Mashreq Millionaire customers will qualify to enter the draw of Dh1 Million.

FAB has a scheme for UAE nationals. The Emirati Al Awwal Islamic certificates offer customers entry into the regular draws and a chance to win Dh1 million and other prizes. Customers can also enjoy assured attractive annual profits on Emirati Al Awwal. The mega prize is Dh1 million for one winner per year. Quarterly prize of Dh200,000 for one winner. Monthly prizes of Dh5,000 for 20 winners. All the draws take place under the supervision of the Department of Economic Development (DED), Abu Dhabi

Al Ansari Exchange

The Al Ansari Exchange’s summer promotion is back. Customers can become a millionaire by simply making a qualifying transaction through the app or Al Ansari branches. Residents could walk away with a life-changing grand prize of Dh1,000,000. The money exchange house is also giving away over Dh100,000 in cash prizes and every week, they will be awarding an iPhone 14 Pro to one lucky winner.

To enter the Dh1,000,000, the iPhone 14 Pro and other cash prize draws: Send money through Al Ansari Exchange mobile app or branches across the UAE or make any qualifying transaction. Online transactions using Al Ansari Exchange’s mobile app will be entitled to three entries in all draws.

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