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MINIMUM SALARY
AED 5000.00
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
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
on Mashreq Website
MINIMUM BALANCE
AED 3000.00
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
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
MINIMUM BALANCE
AED 3000.00
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
MINIMUM SALARY
AED 5000.00
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
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
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
Joining Offers
MINIMUM SALARY
AED 10000.00
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
FAB isave Account Features
Credit Cards
Personal Loans
Exclusive benefits for UAE Nationals
Exclusive benefits for expatriates
Car Loans
Home Loans
*Offer valid for the new and selected existing customers only. Products need to be availed within 60 days .
Joining Offers
Reward/Deposit Features
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.
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
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
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.
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
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
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.
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
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)
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.
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.