| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
RAKBANK - RAKsave
|
Minimum Balance Required: AED 3,000 | Annual Return: 1.5% | Features: Phone Banking, Free Credit/Debit Card |
RAKsave is high interest savings account for people who hate hassle, and that’s everyone. Having a RAKsave savings account is so easy even a child could do it, literally – minors can have an account too. It has a low minimum balance, up to 1.5% interest.
Savings Account Balance and their respective Interest in AED:
Features & Benefits:
Documents Required:
Savings Account Balance and their respective Interest in AED:
- 5,000 - 24,999: 0.50%
- 25,000 - 99,999: 0.75%
- 100,000 - 499,999: 1.00%
- 500,000 & above - 1.50%
- 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
- Minimum Balance - AED 3000 - No minimum balance is required for the first 3 months on Savings Accounts
- Monthly charges for non-maintenance of balance AED 25
- Currency Type - AED Only
- 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/)
