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Opening a bank account for a child can be a good way to introduce them to saving money and basic financial habits. For Muslim families in Bangladesh, however, there is another important consideration: whether the account is based on Islamic banking principles rather than conventional interest.
The good news is that several banks in Bangladesh offer savings accounts specifically for children and students under 18 based on Mudarabah and other Shariah-compliant banking principles.
In this guide, we look at five Islamic bank accounts for kids in Bangladesh, including their eligibility requirements, minimum deposits, features, and profit-sharing arrangements.
Important: This article is for informational purposes only and is not financial advice. Banking products, profit rates, fees, and terms can change. Before opening an account, do your own research and verify the latest information directly with the bank.
Quick Comparison
| Bank | Account | Age | Islamic Structure | Minimum Deposit | Profit |
|---|---|---|---|---|---|
| Eastern Bank (EBL) | Junior Saver’s Islamic Account | Under 18 | Mudarabah | Tk. 100 | Provisional rate applies |
| Islami Bank Bangladesh | Mudaraba School Students Savings Account | Under 18 | Mudarabah | Tk. 100 | Provisional profit |
| Shahjalal Islami Bank | Mudaraba School Banking Account | 5–18 | Mudarabah | Tk. 100 | Provisional profit |
| ONE Bank | Mudaraba School Banking Account | School-going children | Mudarabah | Tk. 100 | Profit-sharing |
| SBAC Bank | Junior Saver Account | Under 18 | Mudarabah | Tk. 100 | Profit-sharing |
1. EBL Junior Saver’s Islamic Account
Eastern Bank PLC (EBL) offers the Junior Saver’s Islamic Account for Bangladeshi children and students below 18.
The account is based on a Mudarabah contract under Shariah principles. Parents or legal guardians operate the account until the child turns 18. Interestingly, parents can open the account even before their child starts school.
Key features
- Available for Bangladeshi children below 18
- Minimum initial deposit of Tk. 100
- No account maintenance fee
- No minimum balance fee
- No minimum balance requirement for profit accrual
- Profit calculated on the daily balance
- Free local debit card for the child, subject to conditions
- Free cash withdrawals at EBL ATMs and CRMs
- Free cash deposits at EBL CRMs
- Free online transactions from any EBL branch
- Free Skybanking mobile app facility
- Parent or legal guardian operates the account until the child turns 18
EBL’s current provisional profit rate for the Junior Saver’s Islamic Account is 2.00%, effective May 3, 2026. This is a provisional rate rather than a guaranteed return. EBL explains that the final profit is adjusted after the actual profit is calculated at the end of the year.
Documents required
For a child, EBL lists documents such as:
- Birth registration certificate or passport
- Passport-size photograph
- Parent/guardian’s NID or passport
- Parent/guardian’s photograph
- Nominee’s identification and photograph
- Recent utility bill as proof of address
For a student account, the bank may also require a student ID, educational institution certificate, or recent tuition-fee payment slip.
One useful feature for parents of younger children: EBL specifically allows parents to open the account before the child starts school.
2. Islami Bank Bangladesh Mudaraba School Students Savings Account
Islami Bank Bangladesh PLC offers the Mudaraba School Students Savings Account for minors below 18.
The account is designed to help children develop saving habits while becoming familiar with banking services and technology.
The account is operated by the child’s guardian.
Key features
- Available to minors below 18
- Minimum balance of Tk. 100
- No account maintenance charge
- Deposit and withdrawal facilities
- Free VISA Rapid debit card
- Internet banking facility
- Guardian operates the account
The bank’s published 2026 provisional profit-rate document lists 2.75% for its Student Mudaraba Saving Account, effective January 1, 2026.
The account has an interesting profit calculation rule. Profit is based on the lowest balance during a month. The bank also states that no profit is payable for a month if Tk. 2,000 or more is withdrawn during that month.
Documents required
The bank lists documents including:
- Child’s birth certificate
- School ID
- Child’s photograph
- Guardian’s photographs
- Guardian’s NID or passport
- Nominee’s NID and photograph
The bank may request additional documents when necessary.
3. Shahjalal Islami Bank Mudaraba School Banking Account
Shahjalal Islami Bank PLC offers a Mudaraba School Banking Account for students between 5 and 18 years old.
This is particularly relevant for younger children because the published eligibility starts at age five.
The account follows the Mudarabah principle of Islamic Shariah. The bank says deposits are invested through approved Shariah-compliant modes, and profit or loss is shared according to the Mudarabah principle.
Key features
- Available for students aged 5–18
- Minimum opening and retention balance of Tk. 100
- Parent or legal guardian operates the account
- ATM/POS withdrawal limit of Tk. 2,000 per day
- Withdrawal limit can be extended to Tk. 5,000
- No cheque book facility
- Account and guardian must meet the bank’s citizenship requirements
Shahjalal Islami Bank currently publishes a 2.50% provisional profit rate for its Mudaraba School Banking Account.
Documents required
The bank lists documents such as:
- Student’s birth certificate or passport
- Student’s academic ID, tuition-fee slip, certificate, or transcript
- Student photographs
- Guardian photographs
- Guardian’s NID, passport, or birth certificate
- Nominee information
- Utility bill
- Tax certificate of the guardian, if applicable
4. ONE Bank Mudaraba School Banking Account
ONE Bank PLC also offers a Mudaraba School Banking Account under its Islamic banking services.
The account is designed primarily for school-going children who have small savings and relatively few transactions. It is treated as a minor account.
Key features
- Minimum opening balance of Tk. 100
- No account maintenance fee
- VISA embedded debit card
- No cheque book
- ATM/POS withdrawal limit of Tk. 2,000 per day
- Withdrawal limit may be increased to Tk. 5,000 with a guardian’s written request
- Free debit-card issuance, replacement, PIN reissue, and renewal according to the bank’s listed terms
Documents required
ONE Bank lists requirements including:
- Student’s birth certificate
- Educational institution ID
- Reference letter from the educational institution
- Recent tuition-fee information
- Student and nominee photographs
- Parent’s NID or passport
- KYC information for the student and guardian
Both the student and guardian must be Bangladeshi citizens according to the bank’s published requirements.
5. SBAC Bank Junior Saver Account
SBAC Bank PLC offers the Junior Saver Account, a Mudarabah-based savings account for children and students below 18.
One notable feature is that the bank divides eligibility into different groups. Children below three can fall under its pre-school group, while children aged three to below 18 can fall under its school banking group.
Key features
- Mudarabah-based savings account
- Available to children and students below 18
- Initial deposit of Tk. 100
- Minimum balance of Tk. 100
- Maximum balance of Tk. 10 lakh
- Profit calculated daily
- Profit applied twice a year, in June and December
- No incidental charge
- Free debit/ATM card for school banking customers, subject to conditions
- Free online banking
- SMS alerts sent to the operating guardian
- ATM/POS withdrawal limit of Tk. 2,000 per month
- Monthly withdrawal limit may be increased to Tk. 5,000 with a written request
- Can be migrated to a regular Mudarabah savings account after age 18, subject to the bank’s procedures
SBAC says profit rates may vary depending on investment performance and product type.
What Is a Mudarabah Bank Account?
You may notice the word Mudarabah in most of the accounts on this list.
Mudarabah is an Islamic banking arrangement in which one party provides capital and the other manages the investment. In the case of a Mudarabah deposit account, the bank uses the deposited funds in Shariah-compliant investment activities and distributes profit according to the applicable profit-sharing arrangement.
This is different from a conventional savings account where the bank generally pays a predetermined interest rate on deposits.
The exact rules, profit-sharing ratios, weightings, and calculation methods can differ from one bank and account to another. Therefore, parents should read the bank’s terms and conditions before opening an account.
How to Choose an Islamic Bank Account for Your Child
There isn’t necessarily one account that is right for every family. Before opening an account, consider the following:
1. Islamic banking structure
First, understand how the bank describes the account’s Shariah structure. Mudarabah is commonly used for Islamic savings products.
2. Age requirement
Check whether the account is available for your child’s age.
For example, some accounts are available to children from a very young age, while others are specifically designed for school-going children.
3. Minimum deposit
Most of the accounts on this list can be opened with just Tk. 100, but the minimum balance and withdrawal conditions can differ.
4. Profit calculation
Don’t look only at the published percentage. Check how the bank calculates profit, how often it is paid, and whether the published rate is provisional.
5. Fees and charges
Check account maintenance fees, debit-card charges, SMS fees, ATM charges, and other possible costs.
6. Banking facilities
Depending on how you want your child to use the account, you may want to consider:
- Debit card
- ATM access
- Mobile banking
- Internet banking
- Cash deposits
- Fund transfers
- SMS notifications
7. Guardian control
For a minor account, the parent or legal guardian generally operates the account. Check how the account will be handled when your child reaches 18.
8. Branch availability
If you prefer visiting a branch, consider whether the bank has convenient branches or Islamic banking windows in your area.
Islamic Bank Account vs. Conventional Savings Account
The basic difference is the way the return on deposited money is structured.
| Feature | Islamic/Mudarabah Account | Conventional Savings Account |
|---|---|---|
| Banking principle | Islamic/Shariah-based | Conventional banking |
| Return | Profit-sharing arrangement | Interest |
| Investment | Shariah-compliant activities | Based on conventional banking practices |
| Profit/interest | Depends on the product and bank | Generally predetermined interest |
| Shariah supervision | Applicable to Islamic banking products | Not applicable |
If avoiding interest is your primary concern, make sure you are opening the Islamic version of the account, particularly when dealing with a bank that offers both conventional and Islamic banking products.
Frequently Asked Questions
Can I open an Islamic bank account for my child in Bangladesh?
Yes. Several Bangladeshi banks offer Islamic or Mudarabah-based savings accounts specifically for children and students below 18.
Can I open an account for a five-year-old?
Yes. Several options are available for young children. For example, Shahjalal Islami Bank’s Mudaraba School Banking Account is available from age five, while EBL allows parents to open its Junior Saver’s Islamic Account even before the child starts school.
Do Islamic children’s accounts pay profit?
Yes. Mudarabah-based accounts can distribute profit to depositors. The amount and calculation method depend on the bank and specific account.
Is Mudarabah the same as interest?
No. Mudarabah is an Islamic profit-sharing structure rather than a conventional interest arrangement. However, the exact contractual terms and profit calculation vary between products, so parents should review the bank’s documentation.
Who operates the account before the child turns 18?
For these minor accounts, the parent or legal guardian generally operates the account on behalf of the child. The exact arrangements vary by bank.
How much money do I need to open an Islamic children’s account?
Several of the accounts covered in this article have a minimum initial deposit of Tk. 100.
Can my child get a debit card?
Some banks provide debit or ATM cards for children’s accounts, although conditions and withdrawal limits vary. EBL, Islami Bank Bangladesh, ONE Bank, and SBAC Bank, for example, list card facilities for their respective children’s/student accounts.
Are these accounts completely free?
Not necessarily. Some banks advertise no maintenance or incidental charges, but other services can have their own fees or conditions. Always check the bank’s current schedule of charges.
Final Thoughts
Opening a bank account for your child can be a simple way to introduce them to saving and responsible money management.
For parents looking for an Islamic option in Bangladesh, there are several choices, including EBL Junior Saver’s Islamic Account, Islami Bank Bangladesh’s Mudaraba School Students Savings Account, Shahjalal Islami Bank’s Mudaraba School Banking Account, ONE Bank’s Mudaraba School Banking Account, and SBAC Bank’s Junior Saver Account.
The right choice depends on your child’s age, how you plan to use the account, available banking facilities, fees, profit calculation, and your own preferences regarding Islamic banking.
Before making a decision, do your own research and contact the bank directly to confirm the latest profit rates, fees, eligibility requirements, documents, and account terms. Banking products can change over time, so information published online should always be verified before opening an account.
