RAKBANK savings account secures your finances while allowing you to keep track of your transactions and withdraw money from your account whenever you want. The most advantageous benefit of a savings account is the interest offered on your savings.
Zero Balance Account
Chance to Win AED 1 Million a Month
Virtual & Physical Debit Card
Open bank account instantly with zero maintenance fees
Featuring competitive interest rates, the flexibility of no minimum balance requirement for the initial three months, and the freedom to choose your preferred account currencies, RAKBANK paves the way for a tailored and rewarding savings experience.
Types of RAKBank Savings Accounts
RAKBank account opening can be done for different savings account variants, these include:
Account Type
Top Features
Fees & Charges (in AED)
Savings Account
For non-residents & residents of the UAE
0.25% annual interest
Available in EUR, GBP, USD, etc.
No. min. balance for 3 months
Min.monthly balance - 3000
Fall below charges - AED 26.25 p.m
RAKbooster Account
Interest rates up to 1.75% p.a
Available in AED & USD
Min.monthly balance - 3000
RAKBANK Emirates Skywards Savings Account
Preferential elite benefits
Free upgrade to Gold tier
With min. quarterly balance of AED 5,000 earn 3 skywards miles on every AED 200
Min. avg. quarterly balance - 500,000
Gold Account
Buy gold digitally
Save in grams
Set up standing instructions
Buying & selling of gold - 0
Physical gold custody charge - 262.5
Benefits of RAKBank Account Opening
Choose from various currency options including USD, GBP, EUR, and more for added flexibility in managing your savings.
Enjoy seamless money transfers through RAKMoneyTransfer, ensuring convenient and efficient transactions globally.
Experience the freedom of no minimum balance requirement for the initial three months, allowing you to kickstart your savings journey hassle-free.
Set up your account swiftly in just minutes, empowering you with quick access to RAKBANK's comprehensive banking services.
Embrace next-generation digital banking features, revolutionizing the way you manage and grow your savings with RAKBANK zero balance account opening online.
Eligibility Criteria to Open Bank Account Online
To be eligible to open a bank account, customers need to meet certain criteria. Here is the general eligibility criteria:
The required minimum balance for currency AED, USD, and GBP is AED 3000, and the fees of AED 25 for not maintaining the minimum balance are applicable on all currencies including AED, USD, and GBP. However, there is no requirement and charge for not maintaining minimum balance on EUR, CHF, and JPY. To earn more profits on your RAKBANK savings account, please ensure that you maintain enough balance to receive payable interest of AED 10 and do not make more than 6 transactions every month.
Please note that Value Added Tax (VAT) of 5% will be applicable on the fees and charges levied by RAKBANK.
Documents Required to Open RAKBANK Savings Account
The general set of documents required to open a RAKBANK savings account with minimum balance include:
Proof of Residential Address
Passport photocopy, Visa copy (with at least 2 months validity for UAE Residence Visa),
Recent Salary certificate (if your salary falls between AED 3000 and AED 5000),
Emirates ID copy
Note: The bank may request additional documents on their sole discretion.
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Customer Reviews & Ratings
82 genuine reviews and ratings across our services.
★★★★★
4.7 / 582 reviews
Open savings account in RAKBANK. RAKBANK savings account’s high-profit rates, this benefit becomes even more exciting.
High interest savings account I’d like to thank Sazia for her proactive and friendly support. I was looking for a high-interest savings account to grow my money, and she guided me through the entire process. With her help, I was able to open an account that offers a high interest rate. Highly recommend Paisabazaar UAE!
Easily opened a low salary accountI recently opened HSBC bank account with the help of Paisabazaar.ae. My salary is low and I faced challenges in starting an account as many top banks had rejected my application earlier. When I contacted Paisabazaar, their team suggested several low-salary account options that fit my situation. With their guidance, I was able to open an account with HSBC that has no minimum balance requirement and a low salary criterion.
Best bank account options for expatsI highly recommend Paisabazaar UAE for expats who want to open a bank account easily. When I moved to Dubai from India, I had no idea about the required documents or procedures. Thankfully, this company made the whole process simple and stress-free. Mr. Shailesh was extremely supportive. He patiently guided me through every step and even suggested the best account options for my needs. Thanks to him, I was able to start my banking journey in Dubai.
Supportive team Paisabazaar.ae is an excellent company with a very polite and helpful team. I was opening a bank account through them and had tons of questions, but they patiently answered every single one and cleared all my doubts. Really appreciate their professionalism and support.
Instant zero balance account openingI was searching for a zero balance account and got quite confused about which bank to choose. Then I came across Paisabazaar UAE, and their team made everything so simple. They guided me through all the options and helped me pick the best account for my needs. A big thanks to Salim and his team for their support throughout the entire account opening process!
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Zero Balance Account
Chance to Win AED 1 Million a Month
Virtual & Physical Debit Card
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