Multiplier Account
Multiplier Account
Open Multiplier Account! Every hour a winner can win up to 1,000,000 SAR
A Sharia-compliant account
Keep SAR 100+ and get hourly chances to win. Higher balance, more chances
FAQs
What is the Multiplier Account?
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The Multiplier Account is a prize-linked savings account that gives you the opportunity to participate in hourly prize draws.
Who can open a Multiplier Account?
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Any eligible STC Bank customer who has active STC Bank current account.
What is the minimum amount required to open the account?
How are prize draw chances calculated?
Your chances are based on your eligible balance in the account. Higher balances receive more chances at the eligible level.
Can I have different chances at different levels?
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Yes, your chances at each level are based on your eligible balance. Here’s the chances rules at each level:
First Prize Tier (level 1): one (1) Chance for every SAR 100 deposited at the time of the draw, up to a maximum of 1,000 Chances.
Second Prize Tier (level 2): one (1) Chance for every SAR 1,000 deposited at the time of the draw, up to a maximum of 100 Chances.
Third Prize Tier (level 3): one (1) Chance for every SAR 10,000 deposited at the time of the draw, up to a maximum of 10 Chances.
Fourth Prize Tier (level 4): one (1) Chance for every SAR 100,000 deposited at the time of the draw, with no maximum limit.
For example, your chances distribution will be as follows according to the deposited amount:
Example
Level 1 chances
Level 2 chances
Level 3 chances
Level 4 chances
SR 200
2 chances
0 chances
0 chances
0 chances
SR 1,000
10 chances
1 chance
0 chances
0 chances
SR 10,000
100 chances
10 chances
1 chance
0 chances
SR 100,000
1,000 chances
100 chances
10 chances
1 chance
Can I win from multiple levels?
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Yes, you can! If you’re eligible for all prize tiers, you can win multiple times from multiple levels. However, after each win, there is a cool down period of 2 months.
Can I withdraw money from my account anytime?
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Yes. Your fund is yours, you may withdraw it at any time, and your chances will be recalculated based on the remaining fund.
How is my profit calculated?
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The profits generated from the investment is disbursed quarterly and shall be distributed at a ratio of 1% to the Customer and 99% to the Bank, in accordance with the Mudarabah principles set out in the product terms and conditions.
Is the Multiplier Account Shariah-compliant?
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Yes. The account is based on a Mudarabah structure and operates in accordance with the approvals of STC Bank’s Shariah Committee.
