FAB Savings Account

FAB Saving Account allows the account holder to earn more while also saving more. Apart from the benefit of savings, these accounts are full of various other features and privileges. They provide free international remittance, high withdrawal limits, and a free debit card that is loaded with exclusive offers. 

Here are the different types of First Abu Dhabi Bank savings accounts available in the UAE.

1. Elite Savings Account
2. Personal Savings Account
3. Personal Call Account
4. iSave Account

Features and Benefits of FAB Savings Account

The savings accounts by FAB offer a host of benefits and features to the account holder. Here are some of these features and benefits offered by the different kinds of FAB Savings Accounts in the UAE.

Elite Savings Account

The account holder can enjoy superior banking services along with a host of privileges. With this FAB Saving Account, the account holder can avail competitive rates of interest. Following are some features of this account.

1. Multiple Currency: Not just AED, this bank account is available in various other major currencies of the world too.
2. Minimum Balance: There is no requirement to maintain any minimum balance on this savings account.
3. International Remittance: The account holder can enjoy the 1st international remittance free every month only in AED accounts. They just have to bear FAB charges.
4. Interest Rate: The bank offers competitive and tiered rates of interest on this FAB Saving Account
5. Debit Card: The bank allows the account holder to access their funds and shop around conveniently from wherever they are through the Elite MasterCard World Debit Card for free.
6. Withdrawal: The bank offers cash withdrawals from all ATMs within the UAE for free. They can avail a daily cash withdrawal of AED 25,000 maximum through ATMs and a purchase limit of AED 75,000 on this debit card. They can also avail four free international & GCC cash withdrawals up to four per month through ATMs.
7. The FAB debit card also gives an insurance coverage of up to USD 1,000 every year in case the item purchased is not delivered to you within 30 days.
8. Rewards & Offers: 
   • You can earn 60 FAB reward points on every AED 100 you spend locally. For each international transaction of up to AED 100 you get 120 FAB reward points.
   • Exclusive lifestyle rewards available on MasterCard debit card. 
   • The rewards are easy to redeem and can be used for shopping, paying utility bills, dining out, or booking your next holiday.

Personal Savings Account

This FAB Saving Account allows its account holders to earn while they save. They can enjoy a lot of exclusive privileges on this account. Following are some features of this account.

1. Multiple Currency: This bank account is available in the UAE Dirhams and various other major currencies of the world.
2. Minimum Balance: The account holder has to maintain a minimum average balance of AED 3,000 at least or equivalent on this savings account. Failing to maintain the minimum balance me attract an additional fee of AED 26.25.
3. Interest Rate: The First Abu Dhabi Bank offers amazing rates of interest on this account.
4. Debit Card: The bank offers option of two debit cards to choose from – FAB Standard debit card and FAB Platinum debit card. The bank allows the account holder to access their funds and shop around conveniently from wherever they are through the FAB MasterCard Platinum Debit Card for free.
5. Withdrawal: If you are a FAB Standard debit cardholder, you have a daily ATM cash withdrawal limit of AED 15,000 and a daily retail purchase limit of AED 20,000. If you have FAB Platinum debit card, your daily cash withdrawal limit from an ATM is AED 20,000. The daily retail purchase limit for Platinum debit cardholder is AED 40,000.
6. Offers: They can use this debit card internationally. It comes with the benefit of free access to airport lounges throughout the Middle East without any prior booking. They just have to show this debit card for availing the access.

Personal Call Account 

This savings account is enables the accountholder to easily transfer money from their other bank account. It is a convenient banking account and allows for transactions in multiple currencies. 

Features and benefits of Personal Call Account -

1. Multiple Currencies – You can operate this savings account in UAE Dirhams and other major global currencies. 
2. Interest Rate – You can earn interest on the balance you maintain in the account and can access the money whenever required. 
3. Minimum Balance Requirement – To operate the account you need to maintain a minimum balance of AED 3,000 per month. 

iSave Account 

With FAB iSave Account, you can reach your financial goals quickly with the help of higher saving rates. You can open this account easily and instantly using the FAB mobile application. 

Features and Benefit of iSave Account -

1. 3.5% interest per year on new funds deposited in your account from July 1st to September 30th 2022. The existing funds are subject to the already existing, monthly interest rate. The same is elaborated below –
2. Can be opened using FAB mobile app or via online banking.
3. No minimum balance required
4. Transactions can be done only in UAE Dirhams
5. There are no restrictions on number of withdrawals

Eligibility Criteria to Open FAB Savings Account in UAE

For opening any bank account, the applicant has to fulfill some eligibility requirements. Following are the eligibility requirements to open this FAB saving account in the UAE.

Documents Required to Open FAB Savings Account in UAE

For opening any bank account, the applicant has to submit some documents to the bank. Following are the documents required to open this FAB saving account in the UAE.

How to Open FAB Savings Account?

Following are the different channels for opening FAB saving account in the UAE.

Phone Banking

The applicant can call on the official customer service number of the bank to put forward a request for account opening.

Online Banking

The safe and user-friendly online banking portal of First Abu Dhabi Bank allows the applicant to open their Savings bank account from wherever they are.

Mobile Banking

The applicant can download the “FAB Mobile App” through the Google Play Store on Android or App Store on iOS. They can open and manage their bank account from this app anytime and anywhere.

Branch Visit

If they are still looking for traditional ways, then they can visit the nearest bank branch and get their FAB Saving Account opened.

Click Here to Apply for FAB Bank Saving Account

How to Close FAB Savings Account in UAE?

The account holder can get their account closed by putting forward the request for account closure. However, before making this request, they should make sure that they have no account balance left in their Savings account.

They can transfer their existing balance to another bank account in their name. After doing so, they can easily close their Savings account.

The account holder will have to pay a fee of AED 105 for closing their FAB saving account.