Opening a bank account in the United Arab Emirates is a crucial step to managing your finances. Selecting the best bank account that boasts the highest interest rates can be daunting. The UAE is home to several banks and financial institutions that offer a wide range of savings and investment options. In this article, we will discuss the top 5 bank accounts in UAE considering interest rates.
Number 5
CBD Active Saver Account
This account offers an attractive interest rate of up to 0.49% for account balances above AED 10,000. The account comes with free online banking, and customers can access their funds from any of the 40+ branches.
Number 4
FAB Elite Account
With an interest rate of up to 0.50%, the FAB Elite Account offers exclusive benefits, including free life insurance coverage, travel insurance, and global concierge services. Account holders can also earn bonus Etihad guest miles on their transactions.
Number 3
Emirates NBD Advance Savings Account
This account offers an interest rate of up to 0.75%. Customers enjoy free online banking, fund transfers, bill payments, and more. ENBD also offers discounts on dining, hotels, and travel, making this account a popular choice.
Number 2
ADCB Active Saver Account
This account offers an attractive interest rate of up to 1.25%. Customers enjoy the perks of a Zero Liability Debit Card, Easy Banking Services, and many other benefits. ADCB has an extensive branch network, making it easy to access your funds from any location.
Number 1
Emirates Islamic Kunooz Savings Account
With an interest rate of up to 1.62%, this account offers one of the highest interest rates in the UAE. This account requires a minimum balance of AED 3500 and has no lock-in period. Account holders also get debit cards and checkbooks.
In conclusion, these bank accounts offer some of the highest interest rates in the UAE. Note that some of the above-listed accounts require a minimum balance, while others do not have any lock-in period. Therefore, it’s essential to read the terms and conditions carefully before opening an account. Keep in mind that interest rates are subject to change, so it’s always essential to monitor your account’s interest rates regularly to ensure that you are making the most of your savings.