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RAKsave
RAKsave allows you and your family to watch your money grow effortlessly. With minimal account opening formalities, a RAKsave account can be opened for anyone regardless of age making banking easier than ever. Offered in AED only, major features include low minimum average monthly balance requirements* and returns of up to 1.5% interest on credit balance**. With a RAKsave Account, you are entitled to the following:
- Free Debit*** Card providing access to your account 24 hours a day, 7 days a week through any ATM in the UAE.
- Instant account access for bill payments and account transfers through RAKdirect our 24 hour telephone banking service.
- Monthly account statements clearly detailing all transactions.
| Balance | 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% |
* A minimum average monthly balance of AED 3,000 is required to maintain a RAKsave account. If this is not maintained, a fee of AED 25 will be levied. (Note: Effective from 1st May 2011.)
** Interest rates are subject to change without prior notice and scaled according to the above tier structure.
*** Debit Cards are only issued to account holders over the age of 18 years. RAKsave accounts belonging to minors will be administrated by the parent or guardian.
Note: If interest payable is less than AED 10/-, then no interest will be credited.
For more information, please call us on 04 - 213 00 00 or click here.
