Get ready to save with competitive interest rates, no minimum balance requirement for the first 3 months, and a choice of account currencies.
Disclaimer
Estimated interest
amount shown above is for illustration purpose only.
Actual interest amount applicable may vary based on
the actual balances maintained in your account,
interest rate, interest period and as per product
terms and conditions.
A RAKBANK Savings Account is an interest bearing non-checking account where no debit balances, such as loans or overdrafts are permitted. You are issued a free Debit Card, which can be used at all RAKBANK and UAE SWITCH ATMs.
Any individual who is either a resident or non-resident, including minors can open a RAKBANK Savings Account.
Even though the RAKBANK Savings Account is an interest bearing account, you do have the option to select a non-interest bearing facility.
Yes, a minor can open and operate this account. For more information, please contact this number: 04 213 0000.
Statements are issued monthly.
Interest is accrued and calculated on the account’s end of day balance and applied in the months of June and December. If interest payable is less than 10/USD 3/GBP 2, then no interest will be paid.
No, unfortunately chequebooks are not issued on RAKBANK Savings Accounts.
The minimum average monthly balance for a RAKBANK Savings Account is 3,000. If the minimum average monthly balance is not maintained, a ledger fee will be charged as per the Service and Price guide.
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Savings Accounts With No Minimum Balance For 3 Months | RAKBANK UAE
