First Abu Dhabi Bank 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 account available in the UAE.
- Elite Gold Savings Account
- Personal Savings 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 Gold 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.
- Multiple Currency: Not just AED, this bank account is available in various other major currencies of the world too.
- Minimum Balance: There is no requirement to maintain any minimum balance on this savings account.
- International Remittance: The account holder can enjoy the 1st international remittance free every monthly only in AED accounts. They just have to bear FAB charges.
- Interest Rate: The bank offers competitive and tiered rates of interest on this FAB Saving Account
- 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.
- 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 free international & GCC cash withdrawals up to four per month through ATMs.
- Rewards & Offers: The account holder can earn Stars by using this debit card. These Stars can be redeemed for Emirates Skywards Miles, Etihad Guest Miles, or for booking airline tickets through Stars Travel Portal. They can also enjoy amazing lifestyle rewards on this MasterCard World Card.
Personal Savings Account
This FAB Saving Account allows the account holder to earn while they save. They can enjoy a lot of exclusive privileges on this account. Following are some features of this account.
- Multiple Currency: This bank account is available in the UAE Dirhams and various other major currencies of the world.
- Minimum Balance: The account holder has to maintain a minimum average balance of AED 3,000 at least or equivalent on this savings account.
- Interest Rate: The First Abu Dhabi Bank offers amazing rates of interest on this account subjected to its existing rates.
- Debit Card: The bank allows the account holder to access their funds and shop around conveniently from wherever they are through the Elite MasterCard Platinum Debit Card for free.
- Withdrawal: The account holder can avail a daily cash withdrawal of AED 15,000 maximum through ATMs and a purchase limit of AED 40,000 on this debit card.
- 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.
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.
|Savings Account Name||Eligibility Criteria|
|Elite Gold Savings Account||
|Personal Savings Account||
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.
|Savings Account Name||Documents Required|
|Elite Gold Savings Account||
|Personal Savings Account||
How to Open FAB Savings Account?
Following are the different channels for opening FAB saving account in the UAE.
The applicant can call on the official customer service number of the bank to put forward a request for account opening.
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.
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.
If they are still looking for traditional ways, then they can visit the nearest bank branch and get their FAB Saving Account opened.
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.
FAB Savings Account - FAQs
Question 1: Do I have to pay any fees for opening this Savings account?
Answer: No, you do not have to pay any fees for opening this FAB savings bank account.
Question 2: Do I have to maintain any minimum balance on these Savings accounts?
Answer: In the case of Elite Gold Savings Account, 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 Personal Savings Account.
Question 3: What penalty do I have to pay if I fail to maintain the minimum balance on this FAB Saving Account?
Answer: In case you breach the minimum balance, that is, your minimum monthly balance goes below AED 3,000, then you will have to pay a fee of AED 25 monthly.
Question 4: Is there any relationship fee charged on this bank account?
Answer: No, you do not have to pay any relationship fee on this Savings account.
Question 5: What amount of fees do I have to pay for closing my Savings account?
Answer: You have to pay a fee of AED 105 for closing the account.
Question 6: Do I have to pay any charges for setting up standing instructions on this FAB Saving Account?
Answer: Yes, you have to pay a fee of AED 52.50 for setting up standing instructions on this account. You will also have to pay a charge of AED 25 as penalty on having insufficient money for standing orders.
Question 7: Is there any dormant account fee on this Savings account?
Answer: No, the First Abu Dhabi Bank does not charge any dormant account fee from the account holder.
Question 8: How much do I have to pay for no liability certificate?
Answer: You have to pay AED 105 on no liability certificate on this FAB Saving Account.
Question 9: Do the Fab Bank also provides the credit cards in UAE?
Answer: Yes, there are various types of FAB Credit Cards that can be applied in the UAE.
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