Minimum Balance Required Annual Return Features
RAKBANK - Fast Saver RAKBANK - Fast Saver Minimum Balance Required: AED 0 Annual Return: 2% Features: Multiple Currencies
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Surf and Save!

Life – it moves fast. You need an account that can keep up. Enter the Fast Saver Online Account – the way to save for the digital generation. It’s quick and hassle free to open. It gives you more access to your money than any other account of its kind. And it grows your savings… fast.

RAKBANK Fast Saver Features:
  • 1 withdrawal and/or 5 Utility / RAKBANK Credit Card payments allowed per month
  • Get a FREE Debit Card for your Online Savings Account
  • No minimum Account Balance or Account Maintenance Charges
  • No cap on maximum account balance on which interest can be earned for AED Fast Saver Accounts
  • AED or USD Online Savings Accounts – you decide
  • Interest for your Savings Account calculated every day, paid every month
  • Anytime, anywhere! Check your Savings Account Balance and Statements online
  • More freebies! Free EDM Cash & Cheque deposits; Free RAKdirect & Mobile Banking Channel facilities
  • Initial Deposit - AED 1000
More Information:
  • Terms and conditions governing Personal Accounts and Online Banking service will apply
  • Branch transactions are restricted for this account. Charges apply
  • Fast Saver Accounts are offered to self-employed and salaried individuals
  • Minimum salary requirement for salaried individuals for opening Fast Saver account is AED 3,000
  • Maximum account balance on which interest can be earned is USD 5 million for USD accounts
  • Interest payout on intra month closure of account will be as per Bank’s policy
  • A salary transfer letter is required as additional documentation for customers opening the account for salary transfer purpose
Interest Rate:

Max your savings and enjoy competitive interest rates of up to 2.00% p.a. (AED) and upto 1% p.a. (USD)Balance Tiers and their respective Interest Rate (p.a.):
  • < AED 5 Million - 2.00%
  • AED 5 Million to < =AED 25 Million - 1.75%
  • AED 25 Million - 1.00%
Balance Tiers and their respective Interest Rate (p.a.):
  • < USD 150k - 0.60%
  • USD 150k to < USD 300k - 0.75%
  • USD 300k to < USD 3 Million - 1.00%
  • USD 3 Million to USD 5 Million - 0.75%
Documents Required:
  • Duly filled and signed Application form
  • Copy of valid passport and valid residence visa (Minimum 2 months validity required for UAE Resident Visas), if applicable
  • Salary Transfer Letter, if applicable (If your monthly salary is between AED 3,000 to AED 5,000/)
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