FAB iSave Account

In this article, we will focus on the lattermost account, i.e., FAB iSave Account, and discuss the key features, benefits, eligibility criteria, interest rates, the related application process, and more.

FAB iSave Account Benefits

Given are the top benefits of the FAB iSave account —

• Open an account instantly through Internet banking or mobile banking
• Interest rates start from 4.75% per annum on the new funds, which are deposited between 1st May 2023 – 30th April 2025
• The account is available in AED currency
• No minimum balance required to maintain the account
• Make unlimited cash withdrawals

Know Your Eligibility for FAB iSave Account Opening

Residents of the UAE are eligible to open a FAB Bank iSave account. However, note that only individual customers are allowed.

For detailed info on your eligibility, get in touch with the bank before starting the application process.

FAB iSave Account Requirements — List of Documents

Your Emirates ID is one of the mandatory documents required for application verification. Other than that, the bank may ask you to submit additional documents. 

Make sure to contact the bank regarding the required documents for a hassle-free application process.

How to Open a FAB iSave Account?

Here’s how you can open a FAB Bank iSave account:

FAB iSave Account Opening Online

Via Paisabazaar.ae

Paisabazaar.ae is the best platform to find the right bank account for yourself. Here’s what you need to do —

1. Complete the lead form after accessing it here
2. Submit the form and view a list of similar accounts
3. Choose the preferred account and apply

Via Internet Banking

Go to the official website of FAB and head to the iSave Bank Account page. Scroll to find the ‘Apply Now’ section, enter the necessary details, and hit the ‘Apply Now’ button.

The bank will soon contact you regarding the next procedure.

Via Mobile Banking

Download and install the FAB app on your device and register your account. Follow the on-screen prompts and open your account without any paperwork.

FAB iSave Account Opening Offline

Via Branch Visit

Go to your nearest bank branch to open an account. Carry all the originals and copies of all the required documents. Collect and complete the application form. Once done, get in touch with the bank representatives regarding the next steps.

FAB iSave Account — Terms and Conditions

Mentioned below are some of the terms and conditions of the iSave FAB account in the UAE —

• Customers may open one or more accounts with the bank, subject to these general conditions and any applicable specific conditions
  • The bank may require the customer to open a specific account to access certain services
  • Each account may have distinct eligibility criteria and conditions
  • Consequently, obligations such as maintaining a minimum balance or meeting margin calls may apply to one account, regardless of a credit balance in another​
• To open an account, the customer must provide all necessary forms, documents, and evidence as required by the bank in a format satisfactory to the bank
  • If the bank declines to open an account, it will endeavor to provide reasons for the refusal, where permitted by applicable law.
• The customer is responsible for informing the bank of any changes to the information provided during account opening or any other identification or due diligence documentation previously submitted
  • This includes, but is not limited to, changes in name, identification documents, address, contact numbers, constitutional documents, shareholding structure, beneficial ownership, and the authority of any authorised signatories
  • The customer must provide any additional forms, documents, and evidence related to such changes as requested by the bank, in a format satisfactory to the bank
  • These changes become effective only upon receipt and acceptance by the bank
• The bank may require the customer to maintain a minimum balance in any account, as determined and communicated by the bank periodically 
  • The amount and calculation method of this minimum balance are at the bank's discretion and may vary as per the account type
  • Failure to meet the minimum balance requirement may result in the bank imposing a fee or declining to process instructions​
• The bank reserves the right to debit any account, and if necessary, overdraw the account, in cases where funds have been credited due to errors (such as computer system or technical errors), human mistakes, clearing system errors, fraud by the customer or third parties, or other reasons
  • The bank holds no liability in these circumstances
• The bank may assign an identification number to the customer and/or an account number to the customer's account
  • These identification numbers remain the property of the bank, which reserves the right to modify or change them at any time

Frequently Asked Questions