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MINIMUM SALARY

AED 5000.00

  • Cheque Book
  • Debit Card
  • Mobile Banking App
  • Special Currency Transfer Rate
  • Enjoy a limited-time offer of up to AED 5,000* cashback
  • Enjoy 5% cashback, up to AED 200 on your debit card**
  • Zero Account Maintenance fee with salary transfer
  • Fast and Easy remittance
  • First check book free

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 3000.00

Minimum Deposit

AED 3000.00

Monthly Min Balance Fee

AED 10.00

Features

    • Monthly average balance of AED 3,000 OR Transfer a minimum salary of AED 5,000 to Neo Current Account & no minimum balance required
    • Enjoy a limited-time offer of up to AED 5,000* cashback
    • Earn joining bonus based on your transferred salary - applicable for accounts with first salary credited on or after 09 June 2024.
    • Monthly Salary AED 5,000 - 9,999 - Joining Bonus AED 200, Additional Bonus in first 90days AED50, Total AED250
    • Monthly Salary AED 10,000 - 19,999 - Joining Bonus AED 500, Additional Bonus in first 90days AED2 50, Total AED 750
    • Monthly Salary AED 20,000 - 49,999 - Joining Bonus AED 1,000, Additional Bonus in first 90days AED 500, Total AED 1500
    • Monthly Salary AED 50,000 and above - Joining Bonus AED 2,500, Additional Bonus in first 90days AED 1,000, Total AED 3,550
    • The above bonus applies to all the customers holding NEO Current Account and NEO Savings Account.
    • Access to global stock exchanges
    • Fast & easy remittances
    • Free first chequebook, 1AED per leaf from second chequebook onwards
    • Enjoy 1% p.a interest through MaxSaver

Joining Offers

Enjoy a limited-time offer of up to AED 5,000* cashback

Earn joining bonus based on your transferred salary - applicable for accounts with first salary credited on or after 09 June 2024.
Monthly Salary AED 5,000 - 9,999 - Joining Bonus AED 200, Additional Bonus in first 90days AED50, Total AED250
Monthly Salary AED 10,000 - 19,999 - Joining Bonus AED 500, Additional Bonus in first 90days AED2 50, Total AED 750
Monthly Salary AED 20,000 - 49,999 - Joining Bonus AED 1,000, Additional Bonus in first 90days AED 500, Total AED 1500
Monthly Salary AED 50,000 and above - Joining Bonus AED 2,500, Additional Bonus in first 90days AED 1,000, Total AED 3,550
The above bonus applies to all the customers holding NEO Current Account and NEO Savings Account.

Refer your friends to Mashreq NEO and get up to AED 1,000
Get up to AED 300* when you use Quick Remit in the first 90 days to send money to over 40 countries

Reward/Deposit Features

Enjoy 5% cashback, up to AED 200 on your debit card** when you shop in the first 90 days. **Add your debit card to any digital wallet (Apple Pay, Google Pay, Samsung Pay) to avail cashback


THINGS TO BE AWARE OF

Maintain AED 3,000 or transfer AED 5,000 salary

Non Residents and G3 nationalities cannot avail this account

APPLY NOW

on Mashreq Website

MINIMUM BALANCE

AED 3000.00

  • Debit Card
  • Internet Banking
  • Mobile Banking App
  • Local and international remittances
  • Online banking and mobile banking

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 2.00

Transaction Charges Abroad

ATM2.00

Non-Bank ATM20.00

Interest/Return

0.25 %

Minimum Balance

AED 3000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 25.00

Features

  • Range of current, savings and deposit accounts
  • Local and international remittances
  • No chequing facility
  • Teller transactions available at a nominal fee
  • Access through international ATM s debit card
  • Phone banking , online banking and mobile banking , internationally valid debit card with a host of benefits and privileges.
  • Debit Card
  • Internet Banking
  • Mobile Banking App
  • Interest rate up to 1.25% p.a. for AED
  • No minimum monthly balance or minimum salary requirement
  • Free debit card and supplementary debit cards
  • Exclusive for UAE Nationals

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.75 %

Minimum Balance

AED 0.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • High interest rate of up to 1.25% p.a. on pooled balances maintained in family savings accounts
  • No minimum monthly balance or minimum salary requirement for any family member
  • The primary member can add up to 10 immediate family members into family pool
  • Complete privacy for each account holder under the family pool
  • Free international Debit card with exciting offers on dining, shopping & travel
  • Interest paid out to each account holder in the proportion of their balances in the pool
  • Bill payment facilities across a wide range of services 
  • 24-hour easy access to your account
  • Exclusively offered to UAE Nationals only

MINIMUM BALANCE

AED 3000.00

  • Debit Card
  • Internet Banking
  • Mobile Banking App
  • Higher withdrawal limits

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 2.00

Transaction Charges Abroad

ATM2.00

Non-Bank ATM21.00

Interest/Return

Nil

Minimum Balance

AED 3000.00

Minimum Deposit

AED 10000.00

Monthly Min Balance Fee

AED 26.00

Features

  • Higher withdrawal limits
  • Local bill payments, alerts , e-statements, banking online or on the go
  • Pay any credit card.

MINIMUM SALARY

AED 5000.00

  • Cheque Book
  • Debit Card
  • Internet Banking
  • Mobile Banking App
  • No min.balance fee for salary transfer of AED 5,000 & above
  • Benefits such as Free HSBC Entertainer App, Air Miles Reward
  • Up to 10% off British Airways airfares
  • Buy 1 Get 1 Free' movie offers
  • Fee-free international money transfers on INR, PKR, EGP, PHP

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM20.00

Interest/Return

Nil

Minimum Balance

AED 3000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • No minimum balance fee for salary transfer of AED 5,000 and above
  • Buy 1 Get 1 Free' movie offers covering 2D, 3D, 4D and other premium experiences across UAE.
  • Fee-free cash withdrawals at any bank ATM in the UAE
  • Fee-free international money transfers on INR, PKR, EGP, PHP
  • Get access to an optional overdraft of up to 1x your salary or AED 50,000 (whichever is lower), with no fees and no interest on the first AED 500
  • One free balance enquiry at any bank ATM
  • Choice between AED, USD, GBP and Chinese Renminbi account currencies
  • Daily cash withdrawal limit of up to AED 8,000 at HSBC UAE ATMs
  • A free international Visa Debit Card accepted at over 25 million outlets worldwide, giving you access to your accounts at over 1 million ATMs around the world
  • Utility bill payments through online and mobile banking
  • Up to 10% off British Airways airfares when you book with your HSBC Personal Banking Debit Card
  • Complimentary HSBC ENTERTAINER app, along with hundreds of offers from the I Love Dining programme. Enjoy airport dining offers at over 200+ locations globally with the Dragon Pass Dine & Travel programme. Terms and conditions apply.

    Cashback Credit Card with Personal Banking Account
  • Open a Personal Banking Account with a monthly salary of over AED 5,000 and you can also apply for an HSBC Cashback Credit Card.
  • Earn 5% (up to AED 200) on fuel and 2% (up to AED 200) on groceries and education per statement cycle when you spend at least AED 3,000 a month
  • Earn 0.5% on all other spends, and when you spend less than AED 3,000 a month
  • Enjoy thousands of offers and access to top lifestyle and entertainment venues with the HSBC ENTERTAINERHSBC ENTERTAINER This link will open in a new window app.
  • Buy 1 Get 1 Free movie tickets every month, up to 25% off food and drink at cinemas across the UAEcinemas across the UAE This link will open in a new window.

Reward/Deposit Features

Earn 1 Air Mile for every AED 4 spend on your card and redeem for flights, hotels and retail vouchers.

MINIMUM SALARY

AED 40000.00

  • Cheque Book
  • Credit Card
  • Debit Card
  • Dedicated Relationship Manager
  • Internet Banking
  • Mobile Banking App
  • Get up to AED 10,000 cashback as welcome offer
  • Preferential rates for mortgages, TDs and foreign exchange
  • Overdraft up to 1 salary multiple, or AED 30,000
  • Experience a premium bank account, with priority services
  • Automatic Premier status in 29 markets around the world

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 350000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • Priority servicing, support and a Premier Debit Card accepted at over 25 million retail outlets worldwide and over 1 million ATMs
  • Dedicated Relationship Manager
  • Automatic Premier status in 29 markets around the world
  • Family Banking solutions covers your spouse and children, which means they too can have a Premier account of their own
  • Premier Children Savings account and a transactional account with a supplementary debit card for children above 14 years of age
  • Overdraft up to 2 salary multiples or AED 30,000 (whichever is lower) with no fees, and with no interest payable on the first AED 5,000
  • View all of your international accounts in one place, and make instant, no-fee transfers between them with a Global Money Account
  • A Current Account available in UAE Dirham, US Dollars, Euro and Pound Sterling
  • Transfer funds to 200 countries and regions in over 25 currencies including INR, PKR, EGP and PH with no fee
  • Preferential rates for loans, mortgages, savings and term deposits, as well as global money transfers
  • Free instant international fund transfers through online and mobile Banking 
  • Autopay and standing instructions
  • Free online banking, phone banking and SMS alerts - bank where and when it suits
  • Free cheque books - and if your cheque book is lost or stolen, use 'Stop Cheque'
  • Unlock Premier status across 29 markets, with a unique range of global services and solutions.
  • Be confident your finances are in good hands, with preferential rates and access to our expert wealth advisors
  • Look after those that mean the most, with savings solutions for your child and complimentary family travel insurance

Joining Offers

  • AED 8000 on maintaining premier balance.
    AED 2000 on transferring premier monthly salary

MINIMUM SALARY

AED 10000.00

  • Cheque Book
  • Credit Card
  • Debit Card
  • Internet Banking
  • Mobile Banking App
  • A wide selection of travel and lifestyle credit cards
  • Get FAB Rewards equivalent of up to AED 10,000*
  • Enjoy market leading rates for Mortgages

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

FAB  One Current Account Features

  • Free debit card with lifestyle benefits
  • Free lounge access at selected airports for FAB Mastercard debit cardholders
  • Four free cash withdrawals from any ATM in the UAE
  • FAB Rewards on account balances
  • Free cheque books
  • No minimum balance charges
  • Free international remittances

FAB isave Account Features

  • Up to 5.25% interest per year on new funds
  • No minimum balance requirement
  • No restriction on the number of withdrawals
  • Instant account opening through the FAB Mobile app

Credit Cards

  • Instant credit card opening through the FAB Mobile app
  • Travel, lifestyle, and cashback benefits
  • FAB Rewards, cashback in Al-Futtaim FAB Rewards, SHARE points or Etihad Guest Miles for every transaction
  • 0% Easy Payment Plans, Quick Cash, Balance Transfers

Personal Loans

Exclusive benefits for UAE Nationals

  • Interest rates starting from 4.74% per year
  • Loan amounts of up to AED 5 million
  • First installment grace period up to 210 days

Exclusive benefits for expatriates

  • Interest rates starting from 5.34% per year
  • Loan amounts up to AED 2 million
  • First installment grace period up to 120 day
  • The option of a non-salary Transfer Personal Loan with competitive terms if your employer is not on FAB’s Approved List of Employers

Car Loans

  • Loans of up to AED 1.5 million or 80% of the car value
  • Exclusive Benefits for UAE Nationals
  • Competitive profit rates as low as 2.15% (equivalent to a reducing rate of 4.10%) per year
  • Exclusive Benefits for Expatriates
  • Competitive profit rates as low as 2.29% (equivalent to a reducing rate of 4.35%) per year

Home Loans

  • Own your own home with FAB’s range of mortgage options and rates starting from 3.99%.
  • Low down payments, high loan amounts, flexible rate options and helpful mortgage advisers
  • Up to 85% financing for first-time buyers
  • No approval-in-principle fee

*Offer valid for the new and selected existing customers only. Products need to be availed within 60 days .

Joining Offers

  • FAB One Current Account or Personal Current Account plus FAB iSave Account plus FAB credit card ( FAB Cashback Card, FAB Rewards Signature, Etihad Guest Signature, Blue FAB Signature Card by Al Futtaim, FAB Share Platinum or FAB Rewards Platinum Credit Card) plus FAB Personal Loan or FAB Auto Loan or FAB Home Loan - AED 3750 ( UAE Nationals) and AED 2500 ( Expats)
  • Double your Bundle Rewards when you transfer your salary to FAB. 
  • Earn additional FAB Rewards worth AED 2,500 with a Personal or Auto Loan or Home Loan of AED 50,000 in addition to a credit card.

Reward/Deposit Features

  • FAB One Current Account or Personal Current Account plus FAB iSave Account plus FAB credit card ( FAB Cashback Card, FAB Rewards Signature, Etihad Guest Signature, Blue FAB Signature Card by Al Futtaim, FAB Share Platinum or FAB Rewards Platinum Credit Card) plus FAB Personal Loan or FAB Auto Loan or FAB Home Loan - AED 3750 ( UAE Nationals) and AED 2500 ( Expats)
  • Double your Bundle Rewards when you transfer your salary to FAB. 
  • Earn additional FAB Rewards worth AED 2,500 with a Personal or Auto Loan or Home Loan of AED 50,000 in addition to a credit card.

Top 10 Savings Accounts in the UAE

Saving money is a vital aspect of financial planning, and choosing the right savings account can significantly enhance your ability to grow your wealth. The UAE banking sector offers a variety of savings accounts designed to meet diverse customer needs, from digital convenience to high-interest rates and comprehensive benefits. In this detailed guide, we’ll explore the top 10 savings accounts in the UAE for 2024, helping you make an informed decision based on your financial goals.

1. FAB iSave Account

The FAB iSave Account from First Abu Dhabi Bank is designed for customers looking for a simple, high-interest savings solution. This account offers a tiered interest rate, allowing you to earn more as your balance grows. It’s an ideal option for those who want to maximize their savings with minimal effort.

Key Features:

5.25% per year on new funds with the iSave Account (from 01 May 2023 to 30 September 2024)

No minimum balance requirement.

24/7 access via FAB’s mobile and online banking platforms.

Available in AED and no restrictions in number of withdrawals

2. Emirates NBD Liv. Account

The Emirates NBD Liv. Account is a digital-only savings account tailored for tech-savvy individuals who prefer managing their finances on the go. With the Liv. app, you can open an account in minutes, track your spending, and enjoy lifestyle benefits, all while earning competitive interest on your savings.

Key Features:

Digital onboarding and account management via the Liv. app.

Exclusive offers and discounts on dining, entertainment, and travel.

No Minimum balance requirement

3. FAB Multi-Product Package Offer

The FAB Multi-Product Package Offer is a unique savings solution that combines a savings account with other FAB financial products, such as credit cards and loans. This package provides comprehensive benefits, including preferential interest rates and rewards, making it a great choice for customers seeking an all-in-one banking solution.

Key Features:

Bundled benefits with FAB’s financial products.

Preferential interest rates on savings.

Additional rewards and cashback on linked products.

4. Standard Chartered XtraSaver Account

The Standard Chartered XtraSaver Account is a high-interest savings account designed for those looking to maximize their savings while enjoying easy access to their funds. With competitive interest rates that increase as your balance grows, this account offers a straightforward and rewarding way to save. The XtraSaver Account provides the flexibility of no minimum balance requirements, ensuring that your money works harder for you without any restrictions. Additionally, account holders benefit from the convenience of 24/7 online and mobile banking, making it easier to manage your savings anytime, anywhere. Whether you’re saving for a specific goal or simply looking to grow your wealth, the Standard Chartered XtraSaver Account is an ideal choice for maximizing your returns.

Key Features:

Interest rate of up to 2.00%

No minimum salary requirement

No minimum balance required*Minimum initial deposit of AED 3,000

Complimentary contactless debit card

Available in USD and AED

5. Emirates NBD Family Savings Account (Exclusive for UAE Nationals)

The Emirates NBD Family Savings Account is designed for families who want to save together while enjoying collective benefits. This account allows multiple family members to contribute to a single savings pool, making it easier to achieve shared financial goals.

Key Features:

Combined savings pool for the entire family.

Up to 1.25% interest rate p.a. on pooled balances

No minimum monthly balance or salary requirement for family members

Free debit card and supplementary debit cards for each family member

6. Mashreq Happiness Account

The Mashreq Happiness Account is known for its high interest rates and added lifestyle benefits. This account is ideal for customers who want to enjoy perks like discounts on dining and shopping while growing their savings.

Key Features:

Minimum salary AED 10,000 (No minimum balance requirement with salary transfer).

AED 25 worth of Salaam Points with every 5 online or mobile transactions

Lifestyle benefits, including discounts on dining, entertainment, and more.

7. Mashreq Neo Savings Account

The Mashreq Neo Savings Account is another digital-only offering that caters to customers who prefer a fully online banking experience. Neo Savings Account is perfect for those who want to manage their savings digitally.

Key Features:

0.15% interest per annum

Digital-only account with easy onboarding.

AED 3000 minimum balance is required to be maintained

8. HSBC Personal Banking Account

The HSBC Personal Banking Account offers a robust savings solution with added benefits like access to international banking services and global transfers. This account is ideal for customers who require a comprehensive banking solution with the security and reliability of HSBC.

Key Features:

Transfer money quickly and easily via online banking, or with Global Money Transfers on the HSBC UAE app.

Open an account in a choice of global currencies (AED, USD, GBP, EUR and Chinese Renminbi).

Get access to an optional overdraft of up to 1x your salary or AED 50,000 (whichever is lower), with no fees and no interest on the first AED 500

Access to HSBC’s global banking network.

To avoid monthly service fees, you’ll need to maintain an average monthly balance of at least:

AED 3,000 if it's an AED account (USD 500, GBP 500, EUR 500 or CNY 5,000 if your account is in one of these currencies)

9. HSBC Premier Account

The HSBC Premier Account is a premium savings account designed for high-net-worth individuals who seek exclusive benefits and personalized banking services. This account offers preferential interest rates, access to dedicated relationship managers, and a suite of global banking privileges.

Key Features:

Preferential interest rates on large balances.

Dedicated relationship manager.

Unlock Worldwide Premier status

Complimentary HSBC Worldwide Travel Insurance

Access to global banking services and Premier benefits.

10. Standard Chartered Saadiq Savings Account

The Standard Chartered Saadiq Savings Account is a Sharia-compliant savings account that offers profit rates based on the Islamic principle of Mudarabah. This account is ideal for customers who seek a savings solution aligned with their Islamic values, while still enjoying competitive returns.

Key Features:

Sharia-compliant and attractive profit rates.

Internationally accepted debit cards

Full access to online and mobile banking services.

Minimum average balance AED3,000 and Minimum deposit AED 10,000

Tips for Choosing the Best Savings Account

Selecting the right savings account can make a significant difference in how effectively you can grow your wealth. Here are some tips to consider when choosing the best savings account in the UAE:

1. Compare Interest Rates: Look for accounts offering competitive interest or profit rates, which can significantly impact your savings over time. Tiered interest rates can offer higher returns as your balance increases.

2. Assess Fees and Charges: Be mindful of any monthly fees, account maintenance charges, or penalties for falling below the minimum balance. Accounts with no minimum balance requirement can provide more flexibility.

3. Consider Accessibility: Evaluate how easily you can access your funds. Some accounts offer ATM withdrawals, while others may restrict access to online transfers. Ensure the account meets your day-to-day banking needs.

4. Evaluate Digital Banking Features: With the rise of digital banking, having a savings account that offers robust online and mobile banking features is essential. Look for accounts with user-friendly apps that allow you to manage your savings efficiently.

5. Check Additional Benefits: Many savings accounts offer extra perks like lifestyle discounts, cashback offers, and bundled banking products. These benefits can add significant value to your account.

6. Review Account Flexibility: Consider how flexible the account is in terms of deposits and withdrawals. Some accounts may offer high interest rates but limit the number of withdrawals you can make.

7. Sharia Compliance: If you prefer a Sharia-compliant savings account, ensure the account follows Islamic principles and offers profit rates instead of traditional interest.

Conclusion

The UAE offers a variety of savings accounts tailored to different financial needs and preferences. Whether you’re looking for a digital-first experience with the Emirates NBD Liv. Account, a family-oriented savings solution with the Emirates NBD Family Savings Account, or a premium banking experience with the HSBC Premier Account, there’s an option for everyone. By comparing the features and benefits of these top 10 savings accounts, and considering the tips provided, you can find the best fit for your financial goals and start growing your wealth in 2024.

FAQs