RakBank F@St S@Ver Account

RAKBANK offers a range of savings accounts, including the RAKBANK Savings account, the RAKBooster, and the RAKBANK Fast Saver account. These are designed to help customers efficiently save their money while enjoying convenient banking services.

The RAKBANK Fast Saver account provides competitive interest rates, easy access to funds, and digital banking features. The account stands as a high-interest, online-only savings account offering attractive returns.

Disclaimer: The RAKBANK Fast Saver account is no longer available for new customers. However, existing account holders can continue using it under the bank’s policies.

RAKBANK Fast Saver Account- Features and Benefits

Bank accountholders enjoy a range of privileges designed to enhance their banking experience. These typically include:

Available in USD and AED currencies
Zero account maintenance charge
No cap is applicable on the maximum account balance on which interest can be earned for an AED account
Interest rate of up to 0.50% per annum for AED currency accountholders
Interest rate of up to 0.25% per annum for USD currency accountholders
Interest on savings is calculated every day and paid every month
5 utility payments and/or 1 withdrawal/ RAKBANK credit card payments allowed monthly

How to Open a RakBank Fast Saver Online Account?

As mentioned, the bank has been discontinued for new applicants. However, existing customers can continue to access their bank accounts and perform day-to-day banking operations.

In case of any queries or issues while availing of the banking services, get in touch with Paisabazaar.ae.

Click here to explore other top bank accounts in UAE.

RAK BANK Fast Saver Account- Terms and Conditions

Given are the terms and conditions of the RAKBANK Fast Saver bank account:

Interest will not be credited if the amount payable is less than AED 10 or USD 3
All personal accounts and digital banking services are subject to the bank’s applicable terms and conditions
For USD accounts, interest can only be earned on balances up to a maximum of USD 5 million. Any amount exceeding this limit will not accrue interest
If an account is closed mid-month, interest payout will be processed according to the bank’s policy
Customers must adhere to the permitted transaction limits to maintain interest earnings. They are only allowed one withdrawal per month and/or up to five utility or RAKBANK credit card payments within the same period. The interest rate for both AED and USD balances will automatically drop to 0.00% per annum for that month

Know the potential of your savings with these FAQs.

Frequently Asked Questions

You can either use internet banking or download the bank’s mobile app to access your account from anywhere at any time.

RAKBANK Fast Saver Account has been discontinued. However, existing customers may still manage their accounts under the bank’s policies. For new customers, RAKBANK offers alternative savings accounts with similar benefits.

The account has attractive interest rates, and no minimum balance requirements, and allows online transactions, including bill payments and transfers, while maintaining interest earnings.

Customers were allowed only one withdrawal and up to five bill payments or RAKBANK Credit Card payments per month.

Interest is calculated daily and credited monthly. However, no interest is paid if the monthly earned amount is below AED 10 or USD 3. The maximum balance eligible for interest is USD 5 million.

RAKBANK provides various savings accounts with competitive interest rates, flexible banking options, and additional features. Customers can explore these alternatives by visiting a branch or checking RAKBANK’s website.

Account Types

Bank Wise Account

Customer Reviews & Ratings

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4.7 / 5

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