| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
FAB - Elite Savings Account
|
Minimum Balance Required: AED 0 | Annual Return: 0.02% | Features: Dedicated Relationship Manager |
Features
- Multi-currency accounts with no minimum balance requirement
- Earn competitive interest rates**
- First international remittance free per month
- Tiered interest rate savings account
Eligibility
Elite Eligibility is 500,000 AED the Total Relationship Balance (TRB), 2,500,000 AED Mortgage or 50,000 AED Salary Transfer
Debit card benefits
Your Elite Saving Account comes with a free Elite World Mastercard debit card, which provides easy access to your money
- High daily ATM cash withdrawal (up to AED 25,000) and purchase limits (up to AED 75,000)
- Free cash withdrawals from any ATM in the UAE
- Four free cash withdrawals per month from any ATM outside the UAE
- Access to exclusive benefits and preferential treatment allowing World Mastercard cardholders to move seamlessly across the world to experience the best it has to offer
FAB REWARDS
Rewarding in every way
With your Elite Saving Account, you will earn FAB Rewards when you spend using your debit card
- Earn 60 FAB Rewards for every AED 100 you spend domestically and 120 FAB Rewards for every AED 100 you spend internationally. Learn more.
- Enjoy instant redemption at your fingertips and easily choose from an extensive selection of rewards such as shopping, cashback, paying your utility bills, dining out or booking your next holiday. Learn more.
- Experience exclusive lifestyle rewards through our World Mastercard debit card. For details please click here.
Required Documents
- The completed account opening form
- Copy of a valid passport/resident visa/Emirates ID (originals must also be presented)
- Proof of income
Note: Additional documents may be required on a case-by-case basis
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
