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Islamic Savings Account

Your smart savings solution

Limited time offer


For UAE Nationals

  • Node Minus Alt
    Campaign anticipated profit rate of up to 5.25% per year is valid only on new funds from 1 May 2023 to 31 March 2024, for individual customers
  • OR
  • Node Minus Alt
    Anticipated profit rate of up to of 4% per year is valid on new funds from 1 July 2022 until 30 April 2023, for individual customers
  • OR
  • Node Minus Alt
    Every AED 25,000 monthly average balance in Islamic Savings Account gets a chance to enter the Emirati Al Awwal draw with a mega prize worth AED 1 million
  • OR

For Expats

  • Node Minus Alt
    Campaign anticipated profit rate of up to 5.25% per year is valid only on new funds from 1 May 2023 to 31 March 2024, for individual customers
  • OR
  • Node Minus Alt
    Anticipated profit rate of up to of 4% per year is valid on new funds from 1 July 2022 until 30 April 2023, for individual customers
  • OR

Features*

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

Minimum required balance is AED 3000. 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

  • Node Minus Alt
    UAE Nationals, GCC Nationals and resident and non-resident expatriates are eligible
  • OR
  • Node Minus Alt
    Salaried, self-employed and non-salaried customers 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.
  • Node Minus Alt
    Get a free Islamic Mastercard debit card with a host of great features**
  • OR
  • Node Minus Alt
    Cash withdrawals from all ATMs displaying the UAE/GCC Switch logos throughout the GCC and at any ATM worldwide displaying the Mastercard/Cirrus logos
  • OR
  • Node Minus Alt
    Access to exclusive benefits and preferential treatment, allowing Mastercard Platinum Islamic Debit Card holders to move seamlessly across the world to experience the best it has to offer**
  • OR
  • Node Minus Alt
    Get airport lounge access across the region (no prior booking required, simply show your Mastercard Platinum Islamic Debit Card at reception)**
  • OR
  • Node Minus Alt
    ATM cash withdrawal limit – AED 20,000
  • OR
  • Node Minus Alt
    Retail purchase transaction limit – AED 40,000
  • OR

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)

Islamic Savings – AED

0.50%

0.50%

0.50%

Islamic Savings – USD

0.50%

0.50%

0.50%

Islamic Savings – EUR

0.50%

0.50%

0.50%

Islamic Savings – GBP

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 31 March 2024
  • 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.
*Terms and conditions - Islamic Savings Account for UAE Nationals.
**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 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

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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