Earn Emirates Skywards Miles with every deposit into your RAKBANK Emirates Skywards Savings Account. Save money and travel more!

RAKBANK Emirates Skywards Savings Account With Skywards Miles | RAKBANK UAE

RAKBANK Emirates Skywards Savings Account

More rewards for Emirates Skywards members

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Salary transfer to this account possible

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No min salary/income required

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Minimum average quarterly balance required for Skywards Gold tier membership

Maintain a monthly

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<ul>
<li>RAKBANK Emirates Skywards Savings Account is available to individual customers. Any account found being used for business purposes will be disqualified.</li>
<li>Although there is no monthly minimum balance to be maintained in this account, the Average Quarterly Balance (AQB) to be maintained is AED 500,000 to avoid the quarterly gold tier benefit cost of AED 1,250.</li>
<li>The Bank may close the account if KYC or identification documents are not updated regularly, or if required as internal policies or upon request from regulatory / judiciary entities.</li>
</ul>

Warnings

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Get a chequebook for AED account on request

AED 50,000-above

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Min age 18 years old

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Possibility to Fast Track to EK Skywards Gold Tier and earn Skywards Miles

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Fees

With Salary Transfer

<div>*AED 5,000 will be placed on hold in your RAKBANK Emirates Skywards Savings Account at all times. If you have availed the Gold tier membership through this account and do not maintain an average quarterly balance of AED 500,000 the bank will recover a quarterly benefit fee of AED 1,250. For full details of RAKBANK Emirates Skywards Savings Account fees and charges, please refer to our <a href="https://beta.rakbank.ae/globalassets/rakbank/all-pdfs/001---service-and-price-guides/bilingual/025-sp-retailaccountservice.pdf">Service and Price Guide</a>.</div>
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No withdrawal restrictions

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RAKbooster interest is calculated daily & paid into your account every month

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Boost your savings with the RAKBANK RAKbooster account, offering high interest rates and easy access to funds to maximize your savings potential.

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Important Information

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Terms and Conditions Notification

AED 20,000-49,999

No fees on a host of Elite Banking benefits

No associated fee. For Benefit Cost details, please refer to www.rakbank.ae

Required:
<ul>
<li>Active RAKBANK Emirates Skywards World Elite Credit Cardholders</li>
</ul>
Age:
<ul>
<li>21 years old and above</li>
</ul>
Residency:
<ul>
<li>UAE residents &amp; non-residents</li>
</ul>

Eligibility

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Emirates Skywards Savings Account - FAQ's

No additional funding account required (RAKBANK Skywards World Elite Credit Card is a prerequisite)

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Possibility to make transactions at branch

No minimum monthly balance required

No minimum monthly balance required. For Benefit Cost details, please refer to www.rakbank.ae

Debit Card facility

Important notification about RAKBANK Emirates Skywards Savings Account:
No Emirates Skywards membership renewals Effective 1st August 2024, RAKBANK will not be able to request renewals for the Gold tier membership benefits for existing Emirates Skywards Savings Account holders.
No new account applications Starting Thursday, 1st August 2024, RAKBANK will no longer offer the Emirates Skywards Savings Account.

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<ul>
<li><a href="/globalassets/rakbank/conventional/about/sustainability/governance/board-of-directors/2-08-240320tcrakbankemiratesskywardssavingsaccount.pdf" target="_blank" rel="noopener">Click&nbsp;here&nbsp;</a>to view the terms and conditions of the RAKBANK Emirates Skywards Savings Account.</li>
</ul>

Terms And Conditions

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Benefits

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RAKBANK Emirates Skywards Savings Account Calculator

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You are required to:
<ul>
<li style="font-weight: 400;" aria-level="1">Review all other terms and conditions set out in the application form in detail;</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website (www.rakbank.ae) for updates;</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form; and</li>
<li style="font-weight: 400;" aria-level="1">Always safeguard sensitive banking details such as a/c number, chequebook, Debit Card, login ID, passwords, PIN, etc.</li>
</ul>

Customers Obligations 

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<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Account with 60 days notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless activated again.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is closed, the accumulated Skywards Miles will be credited to the primary Account holder's Skywards membership account.</li>
<li style="font-weight: 400;" aria-level="1">By applying for this Account, it is deemed that the customer accepts the terms and conditions of the Emirates Skywards loyalty program operated and governed by Emirates Skywards.</li>
<li style="font-weight: 400;" aria-level="1">Emirates Skywards will solely reserve the right to change, modify or amend any part of the Emirates Skywards loyalty program at any time in accordance with their rules.</li>
<li style="font-weight: 400;" aria-level="1">If the Account balance is not sufficient to settle outstanding dues, these will be recovered as and when the Account is funded or alternatively from any other account held by the customer with the Bank.</li>
</ul>

Key Terms and Conditions

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<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>

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RAKBANK Elite Account benefits 

As a RAKBANK Elite member, you get exclusive benefits with this account.
 
This includes access to a dedicated Relationship Manager, exclusive service centres, preferential exchange rates, golf course access, valet services, and so much more.

RAKBANK Elite benefits

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RAKislamic Emirates Skywards Savings Account - Help Card

<ul>
<li>Customers will need to open this Account with fresh funds.</li>
<li>Customers must hold the RAKBANK Emirates Skywards World Elite Mastercard and the Emirates Skywards Loyalty Program Membership to avail this Account.</li>
<li>For Joint Accounts opened, the tier benefits will be available for the eligible primary account holder only. Also in such cases, accrued miles, if any, will be credited in favour of the primary account holder.</li>
<li>Gold tier renewal at the annual anniversary is subject to RAKBANK Emirates Skywards World Elite Mastercard Credit Card being active and AED 500,000 as account balance.</li>
<li>AED 5,000 will be placed on hold at all times on account balances, If the customer does not maintain average quarterly balances of AED 500,000 and if Emirates Skywards Gold tier is held by the customer through this Account, the Bank will recover the quarterly benefit cost of AED 1,250.</li>
<li>A Debit Card is required for accessing Digital Banking facilities.</li>
</ul>

Risks and Limitations 

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Account Features  

This is the Savings Account for holders of the RAKBANK Emirates Skywards World Elite Mastercard Credit Card. Get more rewards and lifestyle privileges, simply for holding an account balance with us.

Account Features

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