After opening FAB iSave Account, interest at the rate of 5.25% per year is deposited in your iSave Account. If you already have an account with FAB, you can open an iSave account instantly through the FAB Mobile App or Online Banking and use it through its mobile application.
In this article, we will tell you the complete process of opening a zero balance savings account in First Abu Dhabi Bank, where you do not need to maintain any kind of minimum balance. If you open this savings account in Dubai, then here you will get many types of benefits. Banking facilities will also be provided.
FAB iSave Account Overview
FAB iSave Account is a savings account offered by First Abu Dhabi Bank (FAB) in the United Arab Emirates (UAE). This is a great option for those who want to get a higher interest rate on their savings and do not have to worry about minimum balances or withdrawal restrictions.
To open this savings account, it is necessary to be a UAE resident or citizen, valid Emirates ID or passport and your age should be more than 18 years.
We have given an overview about this savings account in the table below which is as follows. : :
Here’s the information converted into a table format:
| Feature | Description |
|---|---|
| Interest Rate | 5.25% per year (for new deposits from May 1, 2023 to September 30, 2024) |
| Minimum Balance Requirement | No |
| Withdrawal Restrictions | No |
| Account Opening | Through FAB mobile app, online banking, or FAB branch |
| Account Management | FAB mobile app or online banking |
| Eligibility | UAE resident or citizen, valid Emirates ID or passport |
Eligibility for FAB iSave Account
- You must be a resident or citizen of UAE.
- You must be over 18 years of age
- You must have a valid Emirates ID or passport.
- You are not required to have an existing account with FAB.
- To open an account, you must have a smartphone and internet access.
- To open a FAB iSave Account, you can use the FAB Mobile App, Online Banking or visit a FAB branch.
Also Read: Abu Dhabi Islamic Bank Savings Account Opening Online
Required Documents for FAB iSave Account
Here is the list of documents required to open an iSave Account in First Abu Dhabi Bank:
- Valid Emirates ID
- Valid residence visa
FAB iSave Account Opening
You can open First Abu Dhabi Bank iSave Account through its mobile application website and your nearest branch. After opening the account, you get your iban number and SWIFT code immediately. To open this savings account, you can follow the step by step process given below:
- First of all, open the official website of First Abu Dhabi Bank iSave Account.
- After opening the website, scroll down the page, here you will find an application form.
- To open an account, enter your first name, last name, company name, phone number, email ID, monthly salary, and nationality.
- After this accept the terms of condition.
- After this click on Apply Now button.
- After this, your application form will be successfully submitted. After 24 hours, the executive of this bank will personally contact you and tell you about the process of opening the account.
- After this you have to verify your Valid Emirates ID, Valid residence visa.
- As soon as your documents are verified, your bank account will be opened in this bank.
- After the bank account is opened, the iban number, swift code is sent to you through SMS and email.
You can use the FAB Mobile application to open an account, with the help of which you can activate your debit card, pay utility bills and avail FAB Redeem Rewards, apart from this India-Pakistan Sri Lanka and Philippines You can use this account to send money to countries like. This savings account gives you the highest interest and also provides you the facility to open your personal account with minimum documentation.
You can open this savings account by following the step by step process mentioned above.
FAB iSave Account Features
FAB iSave Account is the best zero balance account in UAE. If you are an individual and you want to get the highest interest and want to save more, then this savings account will prove to be very beneficial for you. The main benefits of FAB iSave Account are as follows:
- High interest rates: FAB iSave Account currently offers interest at 5.25% per annum, one of the best savings rates in the UAE. This interest rate is applicable on new deposits from May 1, 2023 to September 30, 2024.
- No Minimum Balance Requirement: You do not need to maintain any minimum balance to open and maintain a FAB iSave Account.
- No withdrawal restrictions: You can withdraw your savings as many times as you want, at any time, without any fees.
- Quick and easy account opening: You can open a FAB iSave Account in just minutes through the FAB mobile app or online banking.
- Online Account Management: You can easily manage your FAB iSave Account using the FAB Mobile App or Online Banking.
FAB iSave Account is a great option that can help you grow your savings fast. If you are looking for a high interest rate savings account in the UAE, the FAB iSave Account is definitely worth considering.
Also Read: Abu Dhabi Commercial Bank (ADCB)’s Active Saver Online Bank Account Opening
Faq Frequently Asked Questions
1. What kind of account is FAB iSave Account?
This is a best zero balance account. If you want to open the highest interest paying account in UAE, then by opening this bank account, you are given this facility. By opening this bank account, you can do savings, investment, daily needs anytime. Can use any time.
2. What needs to be done to open FAB iSave Account?
If you want to open this savings account, then you can give a request to open this savings account from its official website. You can activate this savings account within 3 minutes by verifying your documents through the mobile application. You can open this savings account by visiting your nearest branch.
3. Is there any need to maintain any balance when opening a FAB iSave Account?
No, after opening this savings account, you do not need to maintain any kind of balance. This savings account is going to be your zero balance account which you can activate immediately by verifying your Emirates ID.
4. What banking facilities do you get in FAB iSave Account?
If you open your FAB iSave Account, here you get the facility to transfer money. Multiple currency facility is available. You can use this account to send money from here to countries like India, Pakistan, Sri Lanka, Philippines. You can use it to make utility bill payments. Activate your debit card with the help of its mobile application. Apart from this, you can avail 15 to 20 banking facilities from here.
Conclusion
Friends, in this article I have told you about the process of opening a best zero balance savings account in Dubai. If you want to open your savings account without maintaining balance, then you can go towards FAB iSave Account. I hope you liked this information, then do share it with your friends. If you want to ask something, please comment below. For similar banking information, also turn on our bell icon.
