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Elite Islamic Savings Account

The perfect solution to smart saving

Features*

The campaign anticipated profit rate of up to 5.25% per year is valid only on new funds for individual customers from 1 May to 30 September 2023

The campaign anticipated profit rate of up to of 4% per year is valid on new funds for individual customers from 1 July 2022 until 30 April 2023

There is no minimum balance requirement. However, profit distribution will only be paid for accounts with a minimum average balance of AED 3,000 (or its equivalent in the relevant currency) every month

This account is available in AED and other major currencies

Elite Islamic Savings Accounts are offered based on the Shariah principle of Mudarabah

Get a free Elite Islamic World Mastercard debit card with a host of great features**

Get airport lounge access across the region (no prior booking required, simply show your Elite Islamic World Mastercard debit card at reception)**

  • Node Minus Alt
    Requirements include a minimum monthly salary transfer of AED 50,000 or an initial deposit of AED 100,000 minimum (the balance in the account will have to be increased to AED 500,000 within the first six months) or a portfolio of mortgage finances above AED 5 million
  • OR
  • Node Minus Alt
    UAE Nationals, GCC Nationals and resident and non-resident expatriates are eligible
  • OR
  • Node Minus Alt
    The completed account opening form
  • OR
  • Node Minus Alt
    A copy of a valid passport/residence visa/Emirates ID (originals must also be presented)
  • OR
  • Node Minus Alt
    A salary certificate addressed to FAB (issued within the last 30 days) or other proof of income for a non-salaried applicant
  • OR
Note: Additional documents may be required on a case-by-case basis.

Your Elite Islamic Savings Account comes with a free Elite Islamic World Mastercard debit card, which provides easy access to your money.

  • Node Minus Alt
    Free cash withdrawals from any ATM in the UAE
  • OR
  • Node Minus Alt
    Four free cash withdrawals per month from any ATM outside the UAE
  • OR
  • Node Minus Alt
    Access to exclusive benefits and preferential treatment, allowing World Mastercard cardholders to move seamlessly across the world to experience the best it has to offer**
  • OR
  • Node Minus Alt
    ATM cash withdrawal limit – AED 40,000
  • OR
  • Node Minus Alt
    Retail purchase transaction limit – AED 75,000
  • OR

Elite Islamic Savings Account profit rates

Historical profit rates distribution:

Islamic account type & CCY
Profit Rate Distributed
(May’22)
Profit Rate Distributed
(Jun’22)
Profit Rate Distributed
(Jul’22)

Elite Islamic Savings – AED

0.50%

0.50%

0.50%

Elite Islamic Savings – USD

0.50%

0.50%

0.50%

Elite Islamic Savings – EUR

0.50%

0.50%

0.50%

  • The above are the actual profit distribution rates and are indicative of rates for the current month. Profit distribution rates in future months, if any, may vary
  • Currently available for an AED currency account only, a special anticipated profit rate of up to 5.25% per year for fresh funds from 01 May to 30 September 2023
  • The anticipated profit is distributed on a monthly basis
  • To view the historical profit rate distribution for previous years, click here

*General Terms & Conditions and Islamic Investment & Savings Account Schedule apply.
**These features are provided by Mastercard. Please visit the Mastercard website for details.
Features and eligibility are subject to change from time to time at the Bank’s sole discretion.
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Open an Elite Islamic Savings Account instantly on the FAB Mobile app


FAB Mobile puts the power of the bank in your hands

  • Get your FAB account and Islamic cards instantly. Zero paperwork
  • Open an account and get an Islamic card, with just your Emirates ID
  • Use your FAB Rewards to pay your bills anytime, anywhere
  • Check your balance, send money and earn rewards in a few taps

Ready to apply?

Get in touch

Need more help?

Contact us anytime for further assistance or check out our FAQ page for more information.

FAB Islamic International
800 2200
Lines Open 24/7
+971 2 499 6299

Email Us
islamiccustomercare@bankfab.com