Last Updated on 16 December 2025
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FAB Smart Deposit Account
Smart Deposit Account
Features
- Fixed deposit tenure options of 2, 3, 4, 5, 7, or 10 years, suitable for long-term savings goals.
- Available in AED, USD, GBP, and EUR, allowing multi-currency investment flexibility.
- Flexible interest payout options – choose monthly, semi-annual, or payout at maturity.
- Minimum deposit starts from AED 30,000, USD 10,000, or equivalent in other supported currencies.
- Open to UAE residents and non-residents, subject to bank eligibility criteria.
- Available for salaried individuals, self-employed customers, and minors (through a legal guardian).
- Interest is applicable only if the deposit is maintained for a minimum of 6 months.
- Partial withdrawals are not allowed; only full premature closure is permitted.
- Early withdrawal fee of AED 100 (or equivalent in foreign currency).
- In case of early closure after 6 months but before maturity, only 50% of the published interest rate is paid based on the actual tenure completed.
- Early withdrawal fee: AED 100 or equivalent.
- Interest penalty:
- No interest paid if the deposit is withdrawn before completing 6 months.
- 50% of the applicable interest rate is paid if withdrawn after 6 months but before maturity.
Required Documents
- Valid passport or Emirates ID (original for verification).
- UAE residence visa for expatriates, where applicable.
- Completed FAB Smart Deposit / Fixed Deposit application form.
- Original documents must be presented for verification purposes.
- Additional documents may be requested depending on the applicant’s profile (resident, non-resident, or minor).
Main Benefits
- Offers stable and predictable returns, making it ideal for conservative investors.
- Enables saving in multiple currencies, helping manage currency exposure.
- Flexible interest payment options support regular income or lump-sum returns at maturity.
- Simple and transparent long-term wealth accumulation solution. Accessible to a wide customer base including residents, non-residents, salaried, non-salaried individuals, and minors.
- Deposits may be used as collateral for overdrafts or credit facilities, subject to FAB’s internal policies.
- Backed by First Abu Dhabi Bank (FAB), one of the UAE’s largest and most trusted banks.
Frequently Asked Questions
Q. What is the minimum deposit for the FAB Smart Deposit Account?
A. The minimum deposit is AED 30,000, USD 10,000, or an equivalent amount in GBP or EUR.
Q. Which currencies are supported under this deposit account?
A. The account supports AED, USD, GBP, and EUR.
Q. Can non-residents open a FAB Smart Deposit Account in the UAE?
A. Yes, the account is available to both UAE residents and non-residents, subject to documentation and bank approval.
Q. Are partial withdrawals allowed?
A. No, partial withdrawals are not permitted. The deposit can only be withdrawn in full.
Q. What happens if I withdraw my deposit before maturity?
A. An early withdrawal fee of AED 100 applies.
Withdrawals before 6 months earn no interest.
Withdrawals after 6 months but before maturity earn 50% of the published interest rate for the actual holding period.
Q. How is interest paid on the FAB Smart Deposit?
A. Interest can be paid monthly, every six months, or at maturity, based on your preference at the time of booking.
Q. Is employment mandatory to open this account?
A. No, both salaried and non-salaried individuals can open the FAB Smart Deposit Account.
Q. Can a minor open a Smart Deposit Account?
A. Yes, minors can open the account through their legal guardian, subject to FAB’s documentation requirements.
FAB
First Abu Dhabi Bank (FAB) is one of the largest banking institutions established in 2017 and is a merger of NBAD and FGB. FAB offers tailor made solutions, products and services to the customers.The international network of FAB is spread over 5 continents providing global relationships, expertise and financial strength to local and international business. FAB offers its diversifying services by having differentiation, agility and innovation as their main motto and vision
Get in touch with FAB Customer Care