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