FAB Bank Accounts

First Abu Dhabi Bank (FAB) is one of the world’s largest financial institutions. It is known for its excellent financial products and services, which include private banking, personal banking, Islamic banking, and commercial and corporate banking.

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  • Competitive rate of interest
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  • Current Account
  • Savings Account

Within the personal banking segment, individuals can opt for loans or open different FAB bank accounts as per their requirements. 

These FAB bank accounts include savings and current accounts, with multiple accounts available under these categories that cater to the needs of different individuals. We have covered all the significant details related to the top FAB bank accounts such as their key features, documents required, eligibility criteria, and more!  

Features and Benefits of FAB Bank Accounts in the UAE

Refer to the following points to know the key features and benefits of different FAB bank accounts —

Conventional Bank Accounts

  • No need to maintain a minimum balance to keep the account active.
  • Earn FAB rewards on making purchases and redeem the points.
  • Enjoy complimentary lounge access at chosen airports with the FAB Platinum Mastercard debit card.
  • The first international remittance is free each month.
  • Get free unlimited chequebooks.
  • Enjoy hassle-free and instant FAB bank account opening via online banking or the FAB mobile application.
  • Enjoy unlimited cash withdrawals.
  • FAB bank accounts are available in AED and other major currencies.

Islamic Bank Accounts

  • FAB bank accounts are available in multiple major currencies, including AED.
  • An Islamic debit card is offered for free upon FAB bank account opening.
  • The first chequebook is free for all account holders.
  • Free e-statements available every month.
  • Easy cash withdrawals through multiple ATMs.
  • Two types of Shariah-compliant Investment Deposit options are available — Wakalah and Muradabah.

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Types of FAB Bank Accounts in the UAE

Here are the top FAB bank accounts in the UAE — 

Current Account

FAB Current Account – The following are the types of current account options that FAB provides –

Click Here to Apply for FAB Bank Current Account

Savings Account

FAB Savings Account – Listed below are the different kinds of FAB savings accounts –

Click Here to Apply for FAB Bank Saving Account

Fixed Deposit Account

Click Here to Apply for FAB Bank Fixed Deposit Account

Islamic Bank Accounts 

  • Islamic Current Account 
  • Islamic Savings Account
  • Islamic Investment Deposit Accounts 

Click Here to Apply for FAB Islamic Bank Account

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Documents Required for FAB Bank Account Opening in the UAE?

Listed below are the documents mandatory for opening different FAB bank accounts — 

Conventional Accounts

  • Original and a valid copy of Emirates ID/ resident visa/ passport
  • Fully filled form
  • Valid income proof

Islamic Accounts 

  • Original and a valid copy of Emirates ID/passport/residence visa 
  • Valid salary certificate (in the last 30 days) issued to FAB or valid proof of income (for non-salaried applicants)  
  • Duly completed and signed application form

Eligibility Criteria for Opening an FAB Bank Account in the Emirates?

To be eligible for FAB bank account opening, you must meet certain criteria —

For Conventional Bank Accounts

  • The applicants must be a resident of the UAE.
  • Applicants must be salaried, non-salaried, or self-employed.
  • The minimum monthly salary of salaried applicants must be AED 10,000.
  • Non-salaried applicants must make an initial deposit of at least AED 10,000.
  • The Total Relationship Balance for the Elite Eligibility is AED 500,000, AED 2,500,000 mortgage, or AED 50,000 salary transfer.

For Islamic Bank Accounts 

  • Applicants must be at least 21 years old.
  • Salaried, non-salaried, and self-employed individuals can apply.
  • Applicants must be UAE nationals, resident expatriates, or GCC nationals.
  • Applicants must make a minimum deposit of AED 500,000 for Wakalah and AED 10,000 for Mudarabah.

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How to Open a FAB Bank Account via Policybazaar UAE?

Refer to the set of instructions mentioned below to successfully open a FAB bank account in the UAE: 

  1. Go to our official website, www.policybazaar.ae.
  2. From the drop-down menu, select ‘Banking Products’. 
  3. Choose ‘Open Bank Account’ and fill out the lead form. 
  4. You will directed to the quotes page.
  5. Find the FAB bank account and hit ‘Apply’. 
  6. Proceed according to the on-screen instructions to open your account. 

Frequently Asked Questions

Can a non-salaried individual open a FAB fixed deposit account?

Yes, non-salaried individuals are eligible to open a fixed deposit account at FAB.

Do I have to maintain any minimum balance on these FAB accounts?

In the case of a few accounts, you do not have to maintain any minimum monthly balance. However, you will have to maintain a minimum average balance of AED 3,000 on the accounts.

Is a 20 year old eligible to open an Islamic current account?

No, you must be at least 21 years old to be eligible for an Islamic current account.

How many types of investment deposit accounts are available at FAB?

4 types of fixed deposit accounts are available with FAB — 

Conventional Accounts 

  • Smart Deposits
  • Fixed Deposits 

Islamic Accounts 

  • Wakalah Account 
  • Muradabah Account

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