Having a savings account is essential once you start earning, as such a bank account can help you in securing your capital along with attractive interest rates.
First Abu Dhabi Bank which is popularly referred to as FAB is one of the leading UAE-based banks in the country and also one the oldest ones to enter the UAE banking system. The First Abu Dhabi Bank is well-known and appreciated in the banking realm of UAE for its exciting banking services and well-received savings account options for salaried and non-salaried customers alike. One such popular savings account is the FAB personal savings account. With minimal deposit requirements and several exclusive value-added benefits, the personal savings account from First Abu Dhabi Bank is one of the best basic savings accounts in the UAE.
The FAB personal savings account comes with a multitude of benefits and unique features that makes banking easy for users. From no minimum tab on monthly salary to exclusive debit card benefits, there are several features that you as a customer can look forward to. Following is a detailed description of the top features and benefits of the FAB personal savings account:
The FAB personal savings account comes with a chance for the customers to earn a profit while saving for their future. The interest rate offered on the personal savings account is subject to the current prevailing interest rate decided by the bank and may change frequently. You can contact the bank officials at the time of account opening to know the current prevailing interest rate for the accounting profit earning slab and more.
There aren’t a lot of charges that are applied on the First Abu Dhabi Bank personal savings account although there are few ones that you should keep yourself posted with. The most common and apt fees or charges on the FAB personal savings account are given as follows:
|Type of Charge||Fee Amount|
|Initial Account Opening Fee||AED 0|
|Breach of Minimum Balance Requirement Fee||AED 26.25|
|Relationship Fee||AED 0|
|Account Closure Fee||AED 105|
|Dormant Account Charge||AED 0|
One of the best things about the FAB personal savings account is the wide scope of eligibility that it offers. Following is the whole set of requirements that you need to meet to be eligible for the FAB personal savings account.
You will need to be ready with the following mentioned documents to successfully open your FAB personal savings account
For Residents of the UAE
For Non-Resident Individuals of UAE
The bank may ask for additional documents as per the case and the situation.
You can easily apply for a FAB personal savings account via online or offline methods. Either visit the bank and make an appointment to open the account or visit the online portal of the FAB personal savings account application and apply. The bank will process the application and will get back to you within 24 hours to further the application process. Make sure that you have all the documents ready with you.
Q1:Can I access my FAB personal savings account online or via the mobile application?
Ans: Yes, you can easily access your account using FAB net banking or mobile banking services.
Q2:Is there an additional requirement for an initial deposit amount for the FAB personal savings account?
Ans No there are no additional requirements for a separate initial deposit amount. You just need to start with the minimum monthly balance requirement of AED 3000.
Q3: What is the daily limit on my FAB Platinum debit card?
Ans: Your FAB Platinum Mastercard can be used to withdraw a maximum of AED 15,000 daily and for a maximum of AED 40,000 retail purchases.
Q4: What is the daily limit on my FAB Standard debit card?
Ans: The FAB Standard Mastercard can be used to withdraw a maximum of AED 10,000 daily and for a maximum of AED 20,000 retail purchases.
Q5: Is complimentary lounge access applicable on Standard Mastercard as well?
Ans: No, the complimentary lounge access is only applicable for Platinum Mastercard.
Q6: Can I update my info related to the Personal Savings account online?
Ans: Yes, you can easily update any personal info like phone number, Emirates ID etc. using the net banking portal or mobile banking applications of the bank.
Q7: Will I receive e-statements for my FAB personal savings account?
Ans: Yes, the bank will send e-statements for your FAB personal savings account every month.