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  • ae UAE
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iSave Account

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Band Balance
Interest Rate*
(per year) 
Effective Rate Range
(per year)
< AED 50,000
 0.25%
 0.25%
AED 50,000 to < AED 100,000
 0.75%
 0.25% to 0.50%
AED 100,000 to < AED 500,000
 2.00%
 0.50% to 1.70%
AED 500.000 to < AED 1,000,000
 2.25%
 1.70% to 1.97%
AED 1,000,000 to < AED 5,000,000
 2.50%
 1.97% to 2.40%
AED 5,000,000 to < AED 100,000,000
 2.25%
 2.40% to 2.26%
AED 100,000,000 to < AED 200,000,000
 1.50%

 2.26% to 1.88%

> AED 200,000,000
 0.25%
 1.88% and less

*Only for that balance portion. Interest calculation will start from lower band (0.25% pa) and will move up according to your average monthly balance. Example: 0.75% pa will be paid for the portion of balance which lies between AED 50,000 to AED 99,999.99.

FAQs – Accumulative Band Method

Q1. What is the Accumulative Band Method of calculating interest for iSave accounts?

Under the Accumulative Band Method, the corresponding interest rates of the band your account balance falls within, will apply. Interest calculation starts from the lower band and will apply the band rate for that portion of your average monthly balance.


Q2. Examples of accumulative band method

Example 1: Your average monthly balance is AED 4M | Effective interest rate = 2.37% per year

  • 0.25% pa will apply on AED 50,000
  • 0.75% pa on AED 50,000 (for the next band of AED 50,000 to AED 100,000)
  • 2.00% pa on AED 400,000 (for the next band of AED 100,000 to AED 500,000)
  • 2.25% pa on AED 500,000 (for the band AED 500,000 to AED 1M)
  • 2.50% pa on remaining AED 3M (for the band AED 1M to AED 5M)
    Effective interest rate for an average monthly balance of AED 4M = 2.37% per year

Example 2: Your average monthly balance is AED 250M | Effective Interest Rate = 1.55% per year

  • 0.25% pa will apply on AED 50,000
  • 0.75% pa on AED 50,000 (for the next band of AED 50,000 to AED 100,000)
  • 2.00% pa on AED 400,000 (for the next band of AED 100,000 to AED 500,000)
  • 2.25% pa on AED 500,000 (for the band AED 500,000 to AED 1M)
  • 2.50% pa on AED 4M (for the band AED 1m to AED 5M)
  • 2.25% pa on AED 95M (for the band AED 5m to AED 100M)
  • 1.50% pa on AED 100M (for the band AED 100m to AED 200M)
  • 0.25% pa on AED 50M (for the band >= AED 200M)
    Effective interest rate for an average monthly balance of AED 250M = 1.55% per year

Features

  • Instant account opening through FAB Internet Banking and Mobile Banking app
  • Available in AED only
  • No monthly fee or minimum balance requirement
  • No restrictions on the number of withdrawals
  • Interest is earned on the average monthly balance and calculated based on the ‘band’ your account balance is within. This is called an ‘accumulative band method’, where rates as per different bands will apply
  • Interest is credited on the last day of the calendar month

Conditions

  • Debit cards are not available for the iSave Account
  • Applicable interest rates are at the sole discretion of the Bank and can be changed without notice
  • Interest is paid on a monthly basis based on the average monthly balance (calendar month). The Bank reserves the right to change the basis of the calculation of interest at any time and at its sole discretion
  • If the account is closed, interest will be paid pro rata using the average monthly balance

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