12 BEST Savings accounts in Dubai, UAE Compared

You’ll find an impressive number of savings accounts available in Dubai. While this choice is undoubtedly great for the consumer, it does throw up one tough question: what are the best saving accounts in UAE?

On this page, I’ll compare the bank accounts in the UAE for savers. So, if you’re looking to open a bank account in the UAE soon, make sure you read this page before going any further.

What is the Best Savings Account in Dubai for 2022?

1. Emirates NBD Standard Savings Account

Emirates NBD Standard Savings
Interest rate:0.20%
Annual fees:None
Minimum balance: AED 3,000

My number one savings account for those in the UAE is the Emirates NBD Standard Savings Account. There’s no minimum opening balance, although the account must maintain a monthly balance of at least AED 3,000. Don’t worry about fees, as there are none to pay with this Dubai bank account. The interest rate is 0.20%.

There are four banking packages available. The most basic is the Classic package, which provides a free debit card and free local and international transfers, along with low fee teller transactions. Other accounts are designed for those with more money in their accounts and offer features such as free chequebooks, free teller transactions, and credit card offers.

Everyone with an Emirates NBD card will be able to claim deals on shopping, travel, and more. For example, at the time of writing, one deal sees all account holders getting a 20% discount at Jumeirah Beach Hotel.


The Emirates NBD Standard Savings Account is a good all-rounder, which doesn’t charge excessive fees and offers several perks. The higher the package you qualify for, the better the account becomes. Just don’t choose this account if interest rates are your primary concern.

2. FAB Islamic Savings Account

FAB Islamic Savings
Profit rate:Up to 3.5%
Annual fees:None
Minimum balance: AED 3,000

This is a Mudarabah savings account from First Abu Dhabi Bank with several plus points, with the biggest being the profit rate of up to 3.5% per year – great for combatting high inflation. Profit distribution will only be paid to those with an account with a minimum average balance of AED 3,000.

Every account with a monthly average balance of AED 25,000 or more will be entered into the Emirati Al Awwal prize draw, which has a prize of AED 1 million. What’s more, account holders can get up to AED 5,000 in cashback upon salary transfer. However, it should be noted that expats don’t get all the same perks as UAE nationals – for example, they will only receive AED 2,500 in cashback for their salary transfer.

Owners of this account will receive an Islamic MasterCard debit card and will be able to withdraw up to AED 20,000 at an ATM. The maximum retail purchase is AED 40,000. What’s more, card holders get access to airport lounges throughout the region.


There is no doubting that this is a superb Mudarabah savings account, offering account owners a huge amount, including decent profit rates and several perks. However, be wary if you’re an expat, as you won’t receive all advertised features.

3. CBI Saver Account

CBI Saver
Interest rate:Up to 3.52%
Annual fees:None
Minimum balance: AED 3,000

Anyone looking for a savings account in the UAE with good interest rates should check out the CBI Saver Account. This account has tiered interest rates, starting at 1.75% on anything under AED 300,000. The highest interest rate is 3.52%, which is paid on savings of AED 5,000,000 to AED 10,000,000. Interest is paid monthly.

This savings account allows you to make unlimited withdrawals, ensuring access to your money all day, every day. It’s available to children and joint applicants, as well as individual adults, plus comes with a free international debit card.

You won’t find that this account has many perks, such as discounts at particular stores and restaurants. However, the interest rates attached to this account are enough to ensure it’s high on my list of the best savings accounts in UAE.


This is the account to choose if you’re simply concerned with getting high interest rates, especially if you’re able to keep the required sums of money in the account. Just don’t expect much else other than these high interest rates.

4. Mashreq Basic Savings Account

Mashreq Basic Savings
Interest rate:0.15%
Annual fees:None
Minimum balance: AED 3,000

The Mashreq Basic Savings Account is a no-frills savings account, which can be opened instantly via the Mashreq Mobile app. It comes with an interest rate of 0.15%, and the interest is paid every 6 months.

All opening the Mashreq Basic Savings Account will receive a free VISA debit card, which will be sent to them within two working days of the account being opened. Transactions made using the account do not incur a fee and there’s free online, mobile, and telephone access. However, you can only make six manned transactions every month.

To set up this account you’ll need an initial balance of AED 3,000 and you must keep that much money in the account. As with many of the best UAE bank accounts, there are perks attached to the Mashreq Basic Savings account, which are powered by The Entertainer.


This is the savings account to opt for if you’re looking for something simple that can be opened instantly. However, this simplicity does come with a cost, as you won’t find yourself getting much in the way of interest.

5. FAB Elite Savings Account

FAB Elite Savings
Interest rate:0.07%
Annual fees:None
Minimum balance: None

Next I shall consider the FAB Elite Savings Account, which is designed with higher earners in mind. The effective interest rate, which can be up to 0.07%, isn’t particularly high, but holders of this account will be rewarded in other ways. To be eligible for this account, you must have a Total Relationship Balance of AED 500,000, an AED 2,500,000 mortgage, or an AED 50,000 salary transfer.

Every time you spend money using the MasterCard debit card attached to your account, you’ll earn FAB Rewards. You’ll earn 60 FAB Rewards for every AED 100 you spend domestically and every AED 120 you spend overseas. These points can then be redeemed for several perks, including cashback, vouchers, and travel deals.

You’ll also find that this savings account allows you to make ATM withdrawals of up to AED 25,000, plus it can be used to make purchases worth up to AED 75,000. Your first four monthly cash withdrawals outside the UAE are free. It also comes with insurance worth up to $1,000.


This is a great savings account for those who prefer to be rewarded with perks, as opposed to being rewarded with interest. It’s a top choice for those looking to travel, thanks to the points earned on international transactions and the four free international ATM withdrawals.

6. RAKBANK Gold Account

Interest rate:N/A
Annual fees:None
Minimum balance: 1 gram

This is a slightly different UAE savings account, as you’ll be saving using gold, instead of a flat currency. It allows you to buy gold online at any time and to save in grams, with the minimum being just 1 gram. The purchase and sale prices will be based on the bank’s prevailing real time gold buying and selling rates.

It’s exceptionally simple to save using this account, as you can set up a monthly Standing Order. It’s also possible to make purchases at any point. If you want to withdraw your gold, you can do so at selected RAKBANK branches. You can also credit your proceeds from selling gold into your RAKBANK account.

As you might expect, there’s no interest rate applied to this RAKBANK savings account, as instead, you earn money if the value of gold appreciates. This could be worth more than you could earn from interest, however, it’s important to remember that the value of gold can also depreciate, so you are taking a risk when saving in this way.


This is a fantastic choice for those who aren’t risk-averse, as the potential returns could be higher. However, you must remember that it is possible to lose money as well. If you’re looking to invest, rather than save, this account is a great option.

7. ADCB Active Saver Account

ADCB Active Saver
Interest rate:Up to 1.15%
Annual fees:None
Minimum balance: None

Next on my rundown of the best saving accounts in UAE is the ADCB Active Saver Account, which allows you to save in three different currencies: AED, USD, and GBP. Other than the variety of currencies, it’s a pretty basic savings account, which is only available to those with an ADCB Current or Savings Account.

Interest is calculated daily and paid monthly, with tiered interest rates, meaning that the more you save, the better the interest rate becomes. The maximum interest rate available for AED accounts is 1.15%, while the maximum interest for USD accounts is 0.85%. For GBP accounts, the maximum interest is 0.75%. There’s a minimum initial deposit requirement of AED/$/£ 1,000.

One drawback to this account is the fact it comes without an ATM card or chequebook. However, some might see this as a plus, as it removes much of the temptation to spend savings. It can still be used to pay bills and transfer funds.


This is a fantastic choice for those who would prefer to save using a currency other than AED. What’s more, it offers reasonable interest rates, especially to those with an AED account. However, you won’t receive an ATM card or a chequebook.

8. Emirates Islamic e-Savings Account

Emirates Islamic e-Savings
Interest rate:N/A
Annual fees:None
Minimum balance: None

This account from Emirates Islamic is Shari’a compliant and based on the principle of Wakala. It offers a maximum expected profit rate of 1% per annum for those with AED accounts and 0.60% for those with USD accounts.

The account can be used for a variety of purposes, including online transfers and bill payments. There’s no limit to the number of withdrawals you can make, although you should remember that withdrawals will impact your profit balance calculation, as will transfers and bill payments.

It’s an exceptionally simple savings account to open – everything can be done via online banking. There’s no minimum initial deposit and no minimum balance requirement. To open this account, a customer must already have an existing Bank NET ID.


This is one of the best Shari’a compliant savings accounts in the UAE, offering a reasonable profit rate of up to 1%. Other than this, it’s a pretty standard savings account, with no minimum balance, making it suitable for everyone.

9. Standard Chartered XtraSaver Account

Standard Chartered XtraSaver
Interest rate:Up to 0.85%
Annual fees:None
Minimum balance: None

The Standard Chartered XtraSaver Account is the next savings account on my list of the best savings accounts in UAE. With this account, the more money you save, the higher the interest rate will become, with the maximum rate of 0.85% being reserved for those who have AED 365,001 or more in their account.

As with many UAE savings accounts, you can use either AED or USD. However, when choosing it’s important to remember that the interest rate is lower for USD savers. The minimum initial deposit to open this account is AED 3,000, but there’s no requirement to keep a minimum in the account going forwards.

This account offers a contactless debit card for online and offline transactions, as well as ATM withdrawals. However, only three debit transactions are permitted per month – exceed this and you won’t receive interest for the month. You can manage your money online, either via online banking or the Standard Chartered mobile app.


This is another of the all-round decent UAE savings accounts, offering great online control over your money. It doesn’t offer anything too flashy, but it also doesn’t have any major downsides, other than the limit of three debit transactions per month.

10. United Arab Bank Ultra Savings Account

United Arab Bank Ultra Savings
Interest rate:Up to 2%
Annual fees:None
Minimum balance: None

This savings account is another that I’d describe as solid – it doesn’t offer anything too extraordinary, but it also doesn’t fall down in many places either. Its most appealing feature is the tiered interest rates, which top out at 2%. The interest is credited once a month.

Another key feature of this savings account is the unlimited withdrawals available, which are made using the complimentary international debit card. There’s no need to worry about dropping below a specific balance either, as there’s no minimum balance requirement. These points make this savings account great for those looking for flexibility.

As with most of the best UAE bank accounts, it’s easy to keep track of your money online, via the secure online and mobile banking platforms. What’s more, free SMS notifications are offered, to allow you to easily track your transactions.


This savings account offers many plus points, including an attractive 2% interest rate and unlimited withdrawals. The lack of a minimum balance requirement makes the account accessible to almost everyone, but you won’t receive anything back in the way of rewards.

11. Emirates Islamic Super Savings Etihad Guest Account

Emirates Islamic Super Savings Etihad Guest
Profit rate:0%
Annual fees:None
Minimum balance: None

This Islamic savings account is a little different, as it doesn’t reward savers with profit. Instead, it allows holders of the account to earn up to 15,000 Etihad Guest Miles per quarter. What’s more, those opening this account get a nice initial bonus of 2,000 Guest Miles. This ability to collect Guest Miles makes this account great for regular travellers.

Anyone with this account will be able to access their account at any time via phone banking. What’s more, account holders will receive an internationally recognised debit card. SMS account updates are also offered.

There are some criteria to meet in order to be eligible for this account. To get the initial 2,000 Guest Miles, you must transfer a monthly salary of AED 5,000 or keep a monthly average balance of AED 20,000 within the first two months. Also, you’ll need to keep your quarterly average balance at AED 5,000 or more. You will also need an Etihad Guest Membership number.


This is a great Islamic bank account offering the chance to earn a considerable number of Etihad Guest Miles, making it a great choice for those who fly regularly. However, there is no profit rate paid and you must always keep at least AED 5,000 in your account.

12. HSBC E-Saver Account

HSBC E-Saver
Interest rate:Up to 0.1%
Annual fees:None
Minimum balance: None

Last on my list of the best UAE bank accounts is the HSBC E-Saver Account. The familiar name of HSBC might make this account more attractive to expats in UAE, but those looking to earn significant sums of interest will be underwhelmed, as the interest at this account is only 0.1%, at most.

So why is this account included on my list of the best savings accounts in UAE? Well, you’ll find it to be an exceptionally convenient account for those looking to keep tabs on their savings, offering easy online management of your money. There’s also no minimum balance, making it perfect for those looking to save smaller sums, and there are no monthly or annual fees.

However, getting hold of your money isn’t that easy, as it can only be withdrawn using online banking or telegraphic transfer – there’s no option to withdraw money using an ATM. In fact, there’s not even a debit card offered with this account.


This account does have several drawbacks, including the low interest and lack of a debit card. However, it’s a decent option for those looking to save smaller sums of money, as there’s no minimum balance.

FAQs on the Best Dubai Savings Accounts

How many bank accounts can a person have in UAE?

There is no restriction on the number of bank accounts you can have in the UAE.

Which bank in UAE is best for a savings account?

Several banks in the UAE offer fantastic savings accounts. If you want a bank with great interest rates, pick CBI, as they have a fantastic savings account with an interest rate of up to 3.52%. Looking for an Islamic savings account? Pick Emirates Islamic. Want a bank that has many promotions? I’d recommend opting for Emirates NBD.

Which bank gives the best interest in UAE?

Of all the best savings accounts in UAE recommended on this page, the one with the highest interest is the CBI Saver Account, which offers an interest rate of up to 3.52%. For those looking for an Islamic savings account, the highest profit rate is the 3.5% offered by the FAB Islamic Savings Account.

Which bank is best for savings accounts?

The bank with the best savings account in the UAE is Emirates NBD. However, there are also many other top UAE banks with great savings accounts, including Emirates Islamic, First Abu Dhabi Bank, Mashreq, and CBI Bank.