FAB Personal Call Account

Savings Accounts by First Abu Dhabi Bank (FAB) are interest-based relationship accounts designed with exclusive features like multi-currency accounts, instant opening through Emirates ID and more. Personal Call Account is one of the standard savings accounts offered by the First Abu Dhabi Bank, allowing you to earn interest on your account balance. This is a cash deposit account where deposits and withdrawals are non-restricted.

Let's have a detailed look at the features and benefits of the FAB Personal Call Account, along with its eligibility criteria and application process.

Features and Benefits of FAB Personal Call Account

FAB offers Personal Call Account with a host of convenient features. Several banking channels can be used to transact using the FAB Personal Call Account. Some of the major features and benefits of the FAB Personal Call Account are listed in the section below:

• Anywhere Banking: FAB offers a mobile banking facility to its customers, helping them in accessing their accounts even when on the move. You can easily access your FAB Personal Call Account anytime and anywhere. 
• Multiple Currencies: You can open FAB Personal Call Account in UAE Dirhams and several other major currencies from around the world.

• Minimum Monthly Balance: Accountholders are required to maintain an average minimum monthly balance of AED 3,000 or equivalent in other currency in the FAB Personal Call Account.
• Monthly Fees for Breach of Minimum Balance: A fee of AED 26.25 per month or equivalent in foreign currency is charged if the minimum balance is not maintained in the Personal Call Account.
• Debit Card: The bank does not provide any kind of debit card with this account which helps in curbing the temptation to spend helping you save the maximum possible sum each month. 

Interest Rates for FAB Personal Call Account

Two kinds of interest rates are applicable on FAB Personal Call Account – interest rates on debit and credit balances. Both are explained in detail below:

Interest Rates Applicable on Credit Balance

• FAB offers interest rates on the balance maintained in FAB Personal Call Account. 
• Account holders earn interest on credit balances on a monthly basis. 
• Following is the schedule of interest rates offered on credit balances by FAB on the FAB Personal Call Account:

Interest on Credit Balance = Daily Balance x Applicable Interest Rate x Number of Days/360

Interest Rates Applicable on Debit Balance

• Bank charges flat 19% interest rate annually on debit balances (overdraft) on FAB Personal Call Account.
• The minimum amount charged by the bank is AED 175 per month.
• The generic formula to calculate interest on debit balance is – Daily Balance x 19% x Number of Days/360.
• It is to be noted that this type of interest rate does not apply to the foreign currency account. 

Eligibility Criteria to Apply for the FAB Personal Call Account

Applicants need to qualify for the eligibility criteria before applying for the FAB Personal Account. The eligibility criterion is discussed below:

• Nationality: All UAE residents and non-residents can apply for the Personal Call Account offered by FAB.
• Employment Type: Salaried and self-employed or non-salaried individuals are eligible to open a FAB Personal Call Account.

Documents Required to Open a FAB Personal Call Account

While opening a FAB Personal Call Account, the applicant needs to submit a few mandatory documents, including proof of identity, income and address proof for verification, etc. Upon verification, applicants can immediately start availing of FAB Personal Call Account benefits. 

The following documents are necessary to open a FAB Personal Call Account:

• A properly filled bank account opening application form
• Identity and address proof such as valid copies of passport/ resident visa and Emirates ID. The original documents must be presented to the bank.
• Proof of income, including salary certificate or trade license, depending on the employment type.

Note: Applicants might be required to submit additional documents depending on their case and the requirement of the bank.

Fees and Charges on FAB Personal Call Account

Following is the schedule of fees and charges applicable to the FAB Personal Call Account:

How to Open a FAB Personal Call Account?

In order to open a Personal Call Account in FAB, you can choose any of the following methods:

• Via Policybazaar UAE Website: The easiest way to send your application for FAB Personal Call Account is via Policybazaar.ae, our official website. Simply go to the website and fill out the lead form to get to the quotes page. Choose the account to wish to open from this page and fill out the application. The form will be sent directly to FAB and an executive will connect with you to take the procedure further. 
• Via Bank’s Website: You can apply for the FAB Personal Call Account online using the bank’s website. All you would need to do is visit the website, head to the Personal Call Account detail page and fill out the lead form. The lead form includes details like your name, contact number, email address, monthly salary, nationality, city of residence, etc. After submission of the form, an executive from the bank  will contact you within 24 hours to proceed with your application.