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Savings Account

RAKislamic now offers you the Sharia compliant Savings Account that conveniently helps you save for your future needs, combined with the award-winning service from RAKBANK.

Earn profit and save
The Savings Account is based on the Islamic principle of ‘Mudaraba’ which means you can earn profit on your savings. The profit is declared and credited to your account on a quarterly basis.

Your Savings Account can be opened in multiple currencies namely AED, USD, GBP and EUR. The low minimum average balance of AED 3,000, USD 5,000 or GBP/EUR 10,000 makes opening and maintaining your Savings Account easy and convenient. You also get Monthly Statements / E-Statements.

Our free online, SMS, phone and mobile banking services give you simple and secure banking on the go:

1. Click and Easy banking with Online Banking (register now at www.rakbank.ae )

2. RAKdirect Number 600 54 0044

3. SMS alerts through your mobile phone

4. Mobile banking

  • Fill and submit the Savings Account application form online.
  • You will receive a confirmation SMS.
  • Once you receive the SMS, activate your account by visiting the branch with your original passport, visa, Emirates ID and initial deposit amount (minimum deposit is AED 3,000).

Get your Savings Account today. Apply now online or visit your nearest RAKBANK branch.

Please note: Accounts not activated within 30 days of receiving the SMS will be closed without further notice.

* No minimum balance is required for the first 3 months on Savings Accounts.

Minimum balance required for a Private Banking relationship is AED 3,500,000 or USD 1,000,000

Minimum balance required for Premium Banking relationship is AED 250,000
(For additional details on eligibility criteria please call 04 2130000 or visit www.rakbank.ae)

Minimum balance required for RAKprime banking relationship is AED 50,000 or USD 15,000


Terms and conditions apply.