First Abu Dhabi Bank (FAB) offers a variety of innovative financial products, including the FAB iSave Account, a modern savings solution tailored for individuals seeking flexibility, convenience, and attractive interest rates. With this account, managing and growing your savings becomes simple and efficient, thanks to its digital-first approach and customer-friendly features.

Below, we explore the key aspects of the FAB iSave Account, including its features, benefits, eligibility criteria, interest rates, and the application process.

Features and Benefits of FAB iSave Account

The FAB iSave Account offers numerous advantages, making it a standout choice for residents and expatriates in the UAE.

FAB iSave Account Features

Feature	Details
Minimum Balance Requirement	No minimum balance required, offering flexibility to all account holders.
Accessibility	Fully online, accessible 24/7 via the FAB mobile app and website.
Instant Account Opening	Open your account instantly using Emirates ID via the FAB mobile app.
Currency Support	Transactions are conducted solely in UAE Dirhams (AED).
Unlimited Withdrawals	No limitations on the number of withdrawals, ensuring easy fund access.
Maintenance Fees	No maintenance fees, helping you maximize your savings.
Attractive Interest Rates	Competitive rates that vary based on your account balance.

The combination of no maintenance fees, 24/7 access, and instant account setup makes the FAB iSave Account an ideal choice for managing savings conveniently and securely. Additionally, services like FAB Salary Check ensure that you can track your income and manage your finances more effectively, offering a comprehensive banking experience tailored to your needs.

Eligibility Criteria for FAB iSave Account

Before applying for a FAB iSave Account, ensure you meet the eligibility requirements.

1. Minimum Age: Applicants must be at least 18 years old to open the account.
2. Balance-Linked Interest: Eligibility for interest rates depends on maintaining an average monthly balance, with higher balances yielding better returns.

These simple eligibility conditions make the account accessible for a wide range of customers.

Documents Required For Acount Opeing

To open a FAB iSave Account, you need to provide:

• Valid Emirates ID: Essential for all applicants.
• Passport and Visa Copy: Mandatory for expatriates.
• Income Proof: Salary certificate or income statement.
• Completed Application Form: Ensure accuracy to avoid processing delays.

Having these documents ready streamlines the application process, allowing you to set up your account without hassle.

Interest Rates for FAB iSave Account

The FAB iSave Account offers attractive interest rates, rewarding account holders for their savings.

Interest Rates on New Funds

• 4.5% per annum on new funds deposited during specific promotional periods.
• New funds refer to amounts exceeding the base balance maintained as of June 30, 2022.

Interest Rates on Existing Funds

FAB iSave Account Interest Rates

Account Balance (AED)	Interest Rate (p.a.)
Less than 500,000	Up to 1.57%
500,000 – 5,000,000	1.57% – 2.25%
Above 5,000,000	2.25% and less

The interest is calculated daily and paid monthly, ensuring consistent growth of your savings. You can use the iSave Calculator on the FAB website to estimate your earnings.

How to Open a FAB iSave Account?

1. Using the FAB Mobile App

• Download the FAB mobile app from your device’s app store (Google Play Store, Apple App Store, or AppGallery).
• Log in or register with your Emirates ID.
• Select FAB iSave Account and fill in your details, including personal and employment information.
• Upload the required documents and submit your application.
• Upon approval, your account will be activated instantly, allowing you to deposit funds and manage your savings.

2. Online Through the FAB Website

• Visit the FAB official website and navigate to the Accounts section.
• Select FAB iSave Account and complete the lead form with your personal details.
• Submit the form. A FAB representative will contact you within 24 hours to guide you through the remaining process.

Both methods are fully digital, ensuring convenience and eliminating the need for branch visits.

Additional Conditions for FAB iSave Account

The following conditions apply to the FAB iSave Account, ensuring clarity and transparency for account holders:

1. Campaign Interest Rates:
   • A 5% per year interest rate is available for new funds deposited by individual customers from May 1, 2023, to January 31, 2025.
   • A 3.75% per year interest rate was valid on new funds deposited from July 1, 2022, to April 30, 2023.
2. Eligibility Criteria:
   • Eligibility for the account is calculated based on the average monthly balance.
   • Only UAE residents with a valid Emirates ID are eligible for the iSave Account.
3. Base Balance for Interest Calculation:
   • The overall balance as of April 30, 2023, is considered the base balance for the 5% per year interest rate campaign.
   • For existing funds (until June 30, 2022), the prevailing interest rate is applied monthly.
4. Differential Interest on Fresh Funds:
   • A differential interest amount (greater than AED 100) is applied to fresh funds over the prevailing interest rate. This amount will be processed within 45 days of the campaign’s extension end date (January 31, 2025).
5. Eligibility for iSave:
   • The iSave account is exclusively available to individual customers.

By adhering to these conditions, customers can maximize the benefits of the FAB iSave Account while ensuring compliance with the bank’s policies.

FAQs About FAB iSave Account

Conclusion

The FAB iSave Account combines flexibility, ease of use, and attractive interest rates, making it the perfect choice for anyone looking to manage and grow their savings. With features like no minimum balance, 24/7 online access, and instant account setup, this account empowers customers to achieve their financial goals effortlessly. Open your FAB iSave Account today and enjoy a seamless and rewarding banking experience.