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Shari'ah banking for youth

It’s never too early to start banking. What better way to instil positive money management skills into young adults than by opening a bank account. Absa Islamic Banking's youth account provides under 19s the precise materials needed to understand their finances and experience of becoming responsible money savers. The Islamic Youth Account is an innovative combination of a transactional and savings account.

Apply now

No monthly charges

Get an Islamic Youth Account to suit your everyday needs and pay no monthly charges.

Shari'ah-compliant

Transfer cash, make payments and be confident that all of the services are compliant with the Shari'ah law.

Annual Profit Share

The calculation of profit share is aligned to the principle of Shari’ah laws.

Discounted food voucher

Get a discount voucher to be redeemed at McDonalds, Steers, Nando's or Debonairs.

Free data monthly

Get 100MB of free data a month through MTN, Vodacom, Cell C and Telkom.

Kidz activity

Free monthly Kidz activities lesson (Aquatots, MiniChess, Young Engineers and more)

What you need to open your account
Requirements for age 16 to 19

A valid, bar-coded South African identity document or valid passport

Proof of residence not older than 3 months (e.g. utility bill or cell phone statement)

Requirements for minors under the age of 16

Original birth certificate or valid passport

Parent or guardian's proof of residence not older than 3 months (e.g. utility bill or cell phone statement)

Parental consent is required to open and operate the account

Parent or guardian's original bar-coded ID
What you get
No monthly fee for your account

The following transactions are free on your Islamic Youth account:

Absa ATM cheque deposit

First R500 cash deposited at an Absa ATM or Cash Acceptor

Cash withdrawals at an Absa ATM

Debit card purchases

Tap-and-Go purchases with your debit card

Prepaid top-ups via Absa channels

Stop orders and internal debit orders

Electronic funds transfers

eStatements

Account activity notification via sms/email

Please note that some transactions will be charged at the standard pay-as-you-transact fee. For more information, you can refer to the pricing brochure or visit your nearest branch.

If you meet the pre-determined criteria , you have access to the following free value-adds every month:

100MB of data

Food voucher to be redeemed at McDonalds, Debonairs, Steers (online) or Nando’s. The onus is on you to please verify the Halaal certification status of restaurants beforehand

First lesson per month free for a Kidz activity, those things kids love to do (Aquatots, MiniChess, Young Engineers and more)

Terms and conditions
Account features
Direct access to your money – you don’t need to carry cash

Withdraw money from Absa ATMs worldwide

Withdraw cash at selected retailers (Pick ‘n Pay, Shoprite Checkers, etc.)

A banking solution that is compliant with Shari'ah law

A debit card that is accepted countrywide and worldwide where the Visa logo is displayed

A convenient 24-hour self-service access through Absa Online, mobile banking app and telephone banking

Get 24/7 access to the largest ATM network in South Africa

International transactions can be performed (at a cost) and Absa will impose an offshore transactional limit equal to the pre-determined value per calendar year for clients under the age of 18, as prescribed by the SARB.
Get this extra benefit on your account
An annual profit share calculated at Absa’s financial year-end (31 December) paid into your account on 25 January of the following year

Transacting using a chip debit card is smarter, faster and more convenient. Learn more about debit card benefits

Get up to 30% discount on flights with Rewards Lite

Not the right choice for you? Try our Islamic savings account.

Compare accounts Apply now

Need more help?

Let one of our consultants help you get the best account for your needs.

Call us on:

0860 000 786

Email us at:

Shari'ah banking for youth

No monthly charges

Shari'ah-compliant

Annual Profit Share

Discounted food voucher

Free data monthly

Kidz activity

What you need to open your account

What you get

Account features

Get this extra benefit on your account

Need more help?

0860 000 786

islamicbanking@absa.co.za Visit your nearest branch

islamicbanking@absa.co.za

Visit your nearest branch