RAKsave is high interest savings account for people who hate hassle, and that’s everyone. Having a RAKsave savings account is so easy even a child could do it, literally – minors can have an account too. It has a low minimum balance, up to 1.5% interest.

Savings Account Balance and their respective Interest in AED:

  • 5,000 – 24,999: 0.50%
  • 25,000 – 99,999: 0.75%
  • 100,000 – 499,999: 1.00%
  • 500,000 & above – 1.50%

Features & Benefits:

  • Free Debit Card to access your savings account through any ATM in the UAE
  • Instant account access so you can pay your bills or conduct account transfers through RAKdirect our 24-hour telephone banking service
  • Monthly account statements clearly detailing all transactions
  • Minimum Balance – AED 3000 – No minimum balance is required for the first 3 months on Savings Accounts
  • Monthly charges for non-maintenance of balance AED 25
  • Currency Type – AED Only

Documents Required:

  • Duly filled and signed Application form
  • Copy of valid passport and valid residence visa (Minimum 2 months validity required for UAE Resident Visas), if applicable
  • Salary Transfer Letter, if applicable (If your monthly salary is between AED 3,000 to AED 5,000/)