Pick your currency and watch your savings grow. RAKBANK’s Savings Account offers you highly competitive interest rates, and credits interest to your account every six months.

Savings Account Currency and it’s respective Interest:

  • AED – 0.50%
  • USD – 0.25%
  • EUR – 0.25%
  • GBP – 0.25%

Features & Benefits:

  • Dirham, US Dollar, Euro or Pound Sterling – you choose the currency for your Savings Account. Other currencies may be approved upon request.
  • FREE Debit Card.
  • Get access to your savings account 24 hours, 7 days a week through any ATM in the UAE.
  • Get monthly, quarterly or bi-annual statements with your Savings Account. If debit card option is selected, monthly statements are issued by default.
  • Transfer funds between your accounts easily and conveniently.
  • A salary transfer letter is required as additional documentation for customers opening the account for salary transfer purpose.

Minimum Balance:

  • AED – 3000
  • USD – 5,000
  • EUR – 10,000
  • GBP – 10,000
  • No minimum balance is required for the first 3 months on Saving Accounts.

Monthly charges for non-maintenance of balance:

  • AED 25
  • USD 15
  • EUR 15
  • GBP 15

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/)