Fab Bank Personal Savings Account: First Abu Dhabi Bank is the most popular bank in UAE. In this bank, you can open your personal savings account through your smartphone. The process of opening this savings account is completed in just 5 minutes.
First Abu Dhabi Bank (FAB) Personal Savings Account is a smart way to make your savings work for you. Designed to provide flexibility, convenience and attractive benefits, this account is available in Dirhams and other major currencies.
Whether you are a UAE citizen, resident expatriate or non-resident, FAB’s Personal Savings Account meets your financial needs with competitive interest rates and a host of features that enhance your banking experience.
With the added convenience of minimal fees, free debit card issuance and free airport lounge access, FAB ensures that your savings account is more than just a place to store money – it’s a gateway to greater financial freedom and rewards.
Open your account today via the FAB Mobile App and start enjoying the benefits of smart savings.
In this article you have been told the complete process of opening a personal savings account in First Abu Dhabi Bank (FAB) by following which you will be able to open that account.
First Abu Dhabi Bank Personal Savings Account: Key Features
If you are opening a Personal Savings Account with First Abu Dhabi Bank, the main features of this account are as follows:
- Multi-Currency Support: Available in Dirham (AED) and other major currencies.
- Interest Rates: Competitive interest rates on savings.
- Minimum Balance Requirement : AED 3,000 or equivalent.
- Free Debit Card: Complimentary FAB Mastercard debit card.
- Airport Lounge Access: Free access with FAB Platinum Mastercard debit card.
First Abu Dhabi Bank Personal Savings Account: Interest Rates
Fab Bank also gives you interest on opening a personal savings account. If you maintain money here, then you can get interest on your savings. The interest received on a personal savings account is as follows:
| Currency | Interest Rate (per year) |
|---|---|
| AED | 0.020% |
| USD | 0.005% |
| AUD | 0.015% |
| CAD | 0.015% |
| EUR | 0.000% |
| GBP | 0.015% |
| JPY | 0.000% |
| CHF | 0.000% |
Note: The above interest rates are subject to change and will be updated periodically on the bank’s website.
First Abu Dhabi Bank Personal Savings Account Eligibility Criteria
To open a personal savings account with First Abu Dhabi Bank, you need to fulfill the following eligibility criteria which are as follows:
| Criteria | Requirement |
|---|---|
| Age | 18 years or older |
| Employment | Open to salaried, self-employed, and non-salaried individuals |
| Residency | Available to UAE nationals, GCC nationals, resident expatriates, and non-residents |
First Abu Dhabi Bank Personal Savings Account Required Documents
The list of documents required to open a Fab Bank Personal Savings Account is as follows
- Account Opening Form: Completed and signed.
- Identification: Copy of a valid passport, resident visa, and/or Emirates ID (originals must also be presented).
- Proof of Income: Recent payslips, employment letter, or other acceptable proof of income.
- Additional Documents: May be required on a case-by-case basis.
First Abu Dhabi Bank Debit Card Daily Limits
On opening a personal savings account in Fab Bank, the facility of FAB Standard Debit Card and FAB Platinum Debit Card is provided. If you withdraw money daily using the Standard Debit Card, then a limit of AED 15,000 is given and for online shopping, a limit of AED 20,000 is given. Similarly, on the Platinum Debit Card, a limit of AED 20,000 is given for withdrawing money from an ATM using the Debit Card daily and AED 40,000 is given for online shopping.
Here, the information about the daily limits of the Debit Card is given in the table below, which is as follows:
| Debit Card | Daily ATM Withdrawal Limit | Daily Retail Purchase Limit |
|---|---|---|
| FAB Standard Debit Card | AED 15,000 | AED 20,000 |
| FAB Platinum Debit Card | AED 20,000 | AED 40,000 |
First Abu Dhabi Bank Fees and Charges
Fab bank levies the following fees and chargers on Personal Savings Account, which are as follows:
- Account Fees
| Service | Fee |
|---|---|
| Account Opening Fees | Free |
| Minimum Balance | AED 3,000 |
| Breach of Minimum Balance (monthly) | AED 26.25 |
| Relationship Fee | Free |
| Non-Receipt of Salary | Free |
| Utility Payment (online and ATM) | Free |
| Account Closure Fee | AED 105 |
| Standing Instruction Set-Up | AED 52.50 |
| Penalty for Insufficient Funds for Standing Orders | AED 26.25 |
- Cheque Book Fees
In Fab bank personal saving account you are also given salary facility, if you avail the cheque book facility here then the charges that will be levied are as follows:
| Service | Fee |
|---|---|
| First Cheque Book | Free |
| Additional Cheque Book (10 leaves) | AED 21 |
| Additional Cheque Book (25 leaves) | AED 26.25 |
| Manager’s Cheque/Demand Draft | AED 31.50 |
| Cancellation of Manager’s Cheque | AED 52.50 |
| Cheques Returned (per instrument/cheque) | AED 105 |
- Debit Card Fees
If you are opening a personal savings account with First Abu Dhabi Bank and you take a debit card here, then the list of fees and charges that will be levied on the debit card is as follows:
| Service | Fee |
| Issuing Fee (initial card) | Free |
| Replacing Secret PIN | Free |
| Replacing Lost/Stolen ATM Card | AED 26.25 |
| Own ATM Fees | Free |
| International Transaction Processing Fee | 2.1% of the transaction amount + scheme charges |
| Fee for Using a Non-FAB ATM (per transaction) | – Other banks’ ATMs in the UAE: AED 2.10 – Other banks’ ATMs in the GCC: AED 6.30 -Other banks’ ATMs (internationally): AED 21 |
| Balance Enquiry Transactions using ATM (per transaction) | – FAB ATM: Free – Other banks’ ATMs in the UAE: AED 1.05 |
| Also Read | First Abu Dhabi Bank iSave Account |
Open a Personal Savings Account Instantly
With the FAB Mobile app, you can open a Personal Savings Account instantly and with zero paperwork. All you need is your Emirates ID. Manage your account, earn rewards, and more with just a few taps.
Step1. First of all, open the official website of FAB Bank.
Step2. Click on the menu area and choose Savings Account.
Step3. After this, tap on the Personal Savings Account.
Step4. Now to open the account, fill in all the information like First Name, Last Name, Company name (Optional), Phone Number, Email, Emirate, Salary per month, Nationality etc. correctly.
Step5. After filling all the information, click on the Apply now button.
Step6. Enter your details on the FAB website, and the bank will call you back within 24 hours to proceed with your application.
What are the key features of FAB’s Online Banking service?
The new Online Banking service provides you with a wide range of features, including:
- Viewing and downloading your account/credit card statements
- Viewing unbilled transactions for debit cards and credit cards
- Requesting new cheque books
- Debit card and credit card activations and PIN resets
- Updating your personal details such as Emirates ID details, account/credit card email address, and mobile number
- Fund transfer service (within own accounts, other FAB accounts, other banks within the UAE, international transfer, SMS cash transfer, credit card payments, and charity)
- Instant and automatic utility bill payments to AADC, ADDC, DEWA, du, Etisalat, FEWA, SALIK, and SEWA
- Setting up future dated and recurring money transfers
- Applying for other banking products
- Beneficiary creation and payments
- Instant remittance transfers with live foreign exchange rates to India
- A single view of your investment portfolio, including mutual funds
- Instant charitable donations
- Converting your eligible credit card transactions into an easy payment plan
- Instant processing of credit card balance transfers and quick cash requests
- Requesting loan payment deferrals
- Instant iSave account opening
- Instant term deposit booking
- Available in English and Arabic
Get in touch
If you face any problem in opening this account, then you can talk to its customer care and get all the information whether you live in UAE or you live outside UAE, then you can call its customer care and discuss your problem. The customer care numbers are given below which are as follows:
| Region | Phone Number |
|---|---|
| UAE | 600-52-5500 |
| Outside UAE | +971-2681-1511 |
Frequently Asked Questions
- Will there be any staff in these branches?
Yes, we will have staff on hand to help, including a Customer Service Officer and a Branch Manager.
- What are the opening hours of the branches?
The regular opening hours for the branches remain the same.
- What is the password to view my account e-statement attachment?
Your e-statement password is made up of the last four digits of your account number followed by the day and month of your date of birth (DDMM). For example, if your account number is 101XXXXX1234 and your date of birth is 01-02-1989, the 8-digit password to be entered would be 12340102.
- What is changing in my local branch?
Services offered over-the-counter like cash withdrawals, deposits, cheque deposits, and fund transfers will now be available through digital channels. We have created a new digital in-branch experience designed to better meet your needs and offer you an exceptional customer experience. These new branches provide a convenient and quick way of completing your everyday banking needs.
- What happens if I want to withdraw cash but I have forgotten my debit card?
We have an ‘SMS cash feature’ that allows you to make a cash transfer to any mobile number, including your own. The receiver will receive a pin code valid for four hours, during which time the cash can be retrieved from any FAB ATM/Cash Deposit Machine by using the mobile number and the pin code. FAB Mobile app/online banking users have a single, daily transaction limit of AED 2,000 per day, and payit users have a single, daily transaction limit of AED 1,000 per day. Users need to be fully verified.
- How will I be notified that my account closure request is confirmed and completed?
You will be informed by SMS and/or email (as applicable) that the account closure request is processed. After the account closure, you will receive an account closure confirmation letter and statement via email or mail, depending on the option you selected for account statement delivery.
Final Words
The First Abu Dhabi Bank (FAB) Personal Savings Account offers a versatile and rewarding way to manage your savings. With its multi-currency support, competitive interest rates, and minimal fees, it caters to a diverse range of customers including UAE nationals, GCC nationals, expatriates, and non-residents.
The convenience of instant account opening via the FAB Mobile app, coupled with complimentary benefits like airport lounge access, makes it an attractive option for both personal and professional banking needs.
If you face any problem in opening this account or want to ask anything then you can comment below.
