RAKBANK Savings Account RAKBANK Min. Salary AED Min. Balance 3000 AED Interest Rate 0.25% Non Maintenance Fee 25 AED Features Conventional Banking Free Debit Card Internet Banking Mobile Banking Multiple Currencies The RAKBANK Savings account is an account where you can save as well as grow money due to the competitive interest rates it provides. Apply Now Benefits Flexibility to choose the currency (AED, USD, Euro and GBP) for your savings account. Free debit card available on this savings account. Get unlimited access to your account. Interest credited to account every 6 months. Monthly statements issued by default if the debit card is availed. No minimum balance is required for the first 3 months on Saving Accounts A minimum balance has to be maintained to avoid paying a maintenance fee. Fees & Charges Account Closure (Within one year)= AED 100 Non-RAKBANK ATM Transactions in UAE- Cash Withdrawal = AED 2 Non- RAKBANK Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1 Fee for using the ATM outside UAE and GCC = AED 20 Interest Rates Interest Rate on AED = 0.25% Interest Rate on USD = 0.25% Interest Rate on GBP = 0.25% Interest Rate on EURO= -1% 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/) Eligibility Any UAE resident, non-resident, and minors can open this savings account. Addition Information Use the debit card in an ATM to get access to savings. Monthly, quarterly and bi-annual statements of your savings are available. A salary transfer letter is required as additional documentation for customers opening the account for salary transfer purpose Apply Now
