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RAKsave

RAKsave is an interest bearing savings account, minors can have an account too. It has a low minimum balance requirement*, interest payout** and these other great features:

  • Free Debit Card *** to access your savings account through any ATM in the UAE
  • Instant account access so you can pay your bills or conduct account transfers through RAKdirect our 24-hour telephone banking service
  • Monthly account statements clearly detailing all transactions
Savings Account Balance Interest in AED
5,000 - 24,999 0.25%
25,000 - 99,999 0.50%
100,000 - 499,999 0.75%
500,000 & above 0.50%
  • No minimum balance is required for the first 3 months on Savings Accounts
  • Fill and submit the RAKsave Account application form online.
  • You will receive a confirmation SMS.
  • After receiving the SMS, activate the account by visiting a branch with your original passport, Visa, Emirates ID and initial deposit (minimum AED 3,000).

* A minimum average monthly balance of AED 3,000 is required to maintain a RAKsave savings account. If this is not maintained, a fee of AED 25 will be levied.

** Interest rates are subject to change without prior notice and scaled according to the above tier structure.

*** Debit Cards are only issued to account holders over the age of 18 years. RAKsave savings accounts belonging to minors will be administrated by the parent or guardian.

Note: If interest payable is less than AED 10, then no interest will be credited.

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