10 Best Savings Accounts to Open in the UAE

By Ruchi Gohri
  | Published: 10 June 2021 | Last Updated On: 08 July 2021

Average Rating / 5 (ratings ) | 273 Views
Bank Account in Dubai & UAE

T&C Apply

Open bank account instantly with zero maintenance fees

Cancel
Cancel
Cancel
By Clicking on "View Quotes", I declare that I am a resident of UAE and holding a valid Visa and agree to the website Privacy Policy and Terms of Use.

UAE has one of the best-performing banking industries in the world. It has hundreds of banks that offer various amazing features and benefits to all its customers. The best thing is attractive interest rates and nominal account opening charges that make banking accessible to all.  

By opening a savings account in the UAE with one of these banks, you can easily save your money and earn profits. But before you zero down to a bank, we’d recommend you to conduct an online research and compare all the benefits provided by each bank. You can take a look at the offers, benefits, financial conditions, terms, policies etc to make an informed decision in the end. 

Here’s a list of top 10 savings accounts in the UAE that offer a wide range of benefits to their account holders along with attractive interest rates. You can choose any one of them to manage your finances better than ever before.

List of Best Savings Accounts in the UAE

Here is the list of the best bank accounts in the UAE that you can choose from to open one for yourself. 

Bank Name

Minimum Balance

Interest Rate

Emirates NBD Standard Savings Account

AED 3000

0.20%

National Bank of Fujairah Max Saver Account

AED 0

1.5%

CBI Saver Account

AED 3,000

1.75%

RAKBank FastSaver Account

AED 0

0.50%

ADCB Active Saver Account

AED 0

1.30%

Emirates Islamic e-Savings Account

AED 0

1%

Standard Chartered XtraSaver Account

AED 0

1.10%

Mashreq Set Up Saver Account

AED 10,000

2%

ADIB Smart Banking Account

AED 0

-

ENBD Mudaraba Savings Account

AED 3,000

1.35%

Al Hilal Bank - Ahlan

AED 0

-

Emirates NBD Standard Savings Account

This is one of the best savings accounts in the UAE. It offers a wide range of other features and benefits, one of them being mePay. It makes online transfers easy for account holders. With mePay, you are freed from the hassles of entering complete account details of the recipient, you can make the transfers using mobile banking. The best part about the bank is that it offers an enhanced Chip & Pin card to help you double secure your bank account.

Features and Benefits

  • Internet banking facility
  • Phone banking facility 
  • Free international debit card 
  • Easy bill payments 
  • Free local and international remittances
  • Minimum balance required – AED 3,000
  • Interest rate – 0.20%

National Bank of Fujairah Max Saver Account

This is one of the best bank accounts in the UAE. It comes with higher profit rates on the balance maintained in your account. The bank calculates interest on daily balance and pays the same monthly. It gives the flexibility of making one monthly withdrawal which doesn’t affect the interest that you earn.

Features and Benefits

  • Available in both AED and USD currencies
  • Daily interest calculation (paid per month)
  • 1 monthly withdrawal 
  • 2 max saver accounts for each customer
  • Minimum balance required - AED 0
  • Interest rate - 1.50%

CBI Saver Account

The bank offers convenient access to your bank account with the benefit of withdrawing money as many times as you want. The best part about this bank is that you can access your account from anywhere.

Features and Benefits

  • Joint account facility
  • Unlimited withdrawals
  • Account available only in AED
  • Free international debit card
  • Interest gets calculated every month
  • Can open accounts for minors
  • Minimum balance required – AED 3,000
  • Interest rate - 1.75%

RAKBank FastSaver account

The bank allows users to open a savings account with zero balance. It offers wide range of benefits with low fee charges. The best part about this savings account is that it doesn’t have any capping on the amount on which the interest can be earned.

Features and Benefits

  • Free debit card 
  • 5 utility bill payments per month 
  • No additional charges on utility bills payment
  • No minimum balance required
  • 1 cash withdrawal per month
  • Minimum balance required – AED 0
  • Interest rate - 0.50%

ADCB Active Saver Account

The bank offers with an easy savings account opening procedure. You can also open an account online with not many documents required. To be able to open an account with this bank, you need to be 21 years old or above. The bank doesn’t allow opening an active saver account for a minor. The best part about this bank is that you can open the account online and need not visit any branch for additional paperwork. You can simply log in to ADCB Personal Internet Banking and get an account number generated online.

Features and Benefits

  • Available in AED, USD, and GBP
  • Easy online money transfers
  • 5 Active Saver Accounts per customer 
  • Earn and redeem touch-points for dining, shopping, and entertainment
  • Daily interest calculation
  • Monthly interest payment
  • Minimum balance required - AED 0
  • Interest rate - 1.30%

Emirates Islamic e-Savings Account

The bank provides a savings bank account that you can access online and avail of the benefits. The bank comes with various attractive offers and benefits like no limit to the number of transactions made.

Features and Benefits

  • Quarterly profits 
  • No monthly transactions limitations 
  • No minimum balance requirement 
  • Available in AED and USD
  • Minimum balance required – AED 0
  • Interest rate - 1%

Standard Chartered XtraSaver Account

The bank offers savings accounts for both UAE residents and non-residents. The bank account can be accessed online with a wide range of benefits. The bank provides contact-less debit cards to help account holders make easy transactions.

Features and Benefits

  • Online banking facility
  • Phone banking facility
  • Free debit card 
  • Account can be accessed in AED and USD
  • Both UAE residents and non-residents are eligible
  • Minimum balance required – AED 0
  • Interest rate - 1.10%

Mashreq Set Up Saver Account

Mashreq bank comes with a huge range of benefits for the account holders. The bank provides various rewards and benefits based on the balance maintained in the bank account. Mashreq Set up Saver Account offers with various amazing opportunities for saving money and getting higher returns on the same.

Features and Benefits

  • Up to 10,000 complimentary Salaam points
  • Account is available in AED only
  • Step up Saver tenure of 18 months
  • Existing customers can open Step up Saver Online
  • Interest credited on maturity or liquidation
  • No Cheque book
  • Minimum Salary required - AED 5,000
  • Minimum balance and Initial Deposit - AED 10,000
  • Easy Salaam Rewards
  • Interest rate - 2%

ADIB Smart Banking Account

The bank offers the best savings account in the UAE. It comes with a wide range of rewards and benefits. Only UAE residents of 18 years of age or above are eligible to open this account. The bank offers unlimited free transactions at more than 80 branches across the UAE. 

Features and Benefits

  • Profit on account balance
  • Rewards on salary transfer 
  • Students and housewives are also eligible
  • Discounts on lifestyle and dining
  • Withdraw cash without a card 
  • Free international and domestic remittance
  • Free debit card 
  • Minimum balance required – AED 0
  • Interest rate – 0%

ENBD Mudaraba Savings Account

The bank comes with a wide range of features to help account holders manage their finances. The savings account is available in multiple currencies.

Features and Benefits

  • Shariah Compliant
  • Available in AED and USD
  • For individuals only
  • Minimum balance - AED 3,000
  • Interest rate – 1.35%

Al Hilal Bank – Ahlan

The bank allows users to open an account in three simple steps – register your documents, share your details, and get your debit card at your doorstep. The bank comes with a wide range of features that help account holders manage their finances in all different ways. 

Features and Benefits

  • No charges or fees applicable
  • No minimum balance required
  • Interest rate calculated on the average monthly balance
  • Attractive rewards and prizes
  • Minimum balance required – AED 0
  • Interest rate – 0%

Final Thoughts

That was the list of the best bank accounts in the UAE with the best set of features and benefits. There are many more good savings accounts options available in the UAE. Make sure you go through the financial details of the bank before you open an account with them. All the charges and interest rates come with a set of terms and conditions, make sure you go through all of them and make an informed decision. 

Ruchi Gohri
Ruchi Gohri59 Posts

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.