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%|
Minimum balance requirement
- No minimum balance is required for the first 3 months on Savings Accounts
Apply for a RAKsave Account easily with Click and Collect in 3 easy steps:
- 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).
Terms and Conditions
* 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.
Click and Collect Terms and Conditions apply
Please note: Accounts not activated within 30 days of receiving the SMS will be closed without further notice.