Emirates Islamic Bank is one such bank offering exclusive Islamic banking products in the UAE, with the Emirates Islamic Bank zero balance accounts being among the most preferred savings accounts in the UAE.
Being the largest bank in the UAE as per the metric of assets, FAB provides a plethora of banking services to its users. It allows customers to avail of numerous methods to secure their accounts by depositing their monetary assets in a savings account.
The leading options provided by FAB related to savings accounts can be categorised as Smart Deposit Account, Fixed Deposit, iSave Account, Deposits & Certificates, Emirati AI Awwal, and more. From this list, the iSave account has several features that make for an attractive savings account in the UAE.
This article briefly explains the key concepts of FAB iSave accounts and how you can quickly open an account. Keep reading till the end to acquire an in-depth insight into FAB iSave accounts in the UAE.
Individuals who wish to open an iSave account can now perform the process without any hassle. Simply download the FAB mobile app and follow the instructions prompted on the screen regarding how to open FAB iSave account. It should be noted that the entire method involves zero paperwork.
A similar option is present for individuals having a current account with FAB. Such users can quickly open a FAB iSave using the FAB mobile application. The application is available on the Apple App Store, Google Play Store, and AppGallery Store.
With a FAB iSave account, you can earn interest at the interest rate of 2% every year on your new funds. However, it should be noted that this iSave account interest rate of 2% is applicable on fresh funds transferred to your account between February 1 and June 30 in 2022
Besides an attractive interest rate and ease of opening the account, several more features can be availed of with a FAB iSave account in the UAE. So if you have apprehensions about investing in the iSave account of FAB, you can refer to the features and benefits of the account below.
No monthly or yearly fees required
Account accessible in AED
No stress regarding finances as this account does not require a minimum balance to keep itself activated
Hassle-free access to funds as no limitations in terms of withdrawal apply to this account
Convenient access to your account via the FAB iSave online account as well as the mobile app
Here are a few enlisted points that you must always consider when thinking of opening a FAB bank iSave account.
The base balance taken for FAB iSave account calculations is the balance available on January 31, 2022. If there is an increase in the amount after the specified date, it will be considered a new fund.
The interest rate in the offer is applicable to the new funds in an iSave account.
Your average monthly balance will decide your eligibility as well as the offered interest rate.
The interest rate mentioned here, i.e., 2% per annum, is exclusively valid for new funds added until June 30, 2022.
FAB iSave account is one of the most accessible and benefits-laden accounts in the UAE. With an attractive interest rate of up to 2%, you can secure your savings with the account and earn on them. Opening a FAB iSave account is a straightforward process, with the FAB mobile app proving sufficient for the purpose.
However, if you want any additional assistance regarding the same, feel free to have a word with our technical support team. One of our members will guide you and help you understand the iSave account. You can also check out the leading bank accounts in the UAE on our website under the category ‘Banking Products’ on the homepage. Besides checking out multiple savings accounts in UAE and comparing the best ones, you can also apply for one on our site only.