Last Updated on 16 December 2025
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FAB Elite Savings Account
Elite Savings Account
Features
- Zero minimum balance requirement for account maintenance, offering flexibility without penalties.
- Profit-earning savings account with competitive, tiered interest rates on AED balances.
- Multi-currency savings account available in AED and major global currencies.
- Free Elite World Mastercard debit card, providing easy and secure access to funds.
- High daily ATM cash withdrawal limits of up to AED 25,000–40,000, subject to bank policy.
- High daily retail purchase limit of up to AED 75,000.
- Free ATM cash withdrawals across the UAE.
- Four free international ATM cash withdrawals per month.
- Complimentary local fund transfers within the UAE.
- Earn FAB Rewards (Stars) on eligible local and international debit card spending.
- Access to World Mastercard exclusive lifestyle privileges and premium benefits.
- Convenient account management through digital banking and branch channels.
- Interest eligibility: Monthly balance must not fall below AED 3,000 to earn interest.
- Account maintenance fee: Nil
- Minimum balance penalty: Nil
- UAE ATM withdrawals: Free
- International ATM withdrawals: First four withdrawals per month free
- Debit card issuance: Free (Elite World Mastercard)
- Charges and limits are subject to FAB’s prevailing terms and conditions.
- The FAB Elite Savings Account offers tiered interest rates on AED balances.
- For a monthly minimum balance of AED 3,000 to less than AED 100,000, the effective interest rate is 0.02% per annum.
- For balances of AED 100,000 to less than AED 500,000, the effective interest rate increases to 0.045% per annum.
- For balances of AED 500,000 and above, customers can earn an effective interest rate of up to 0.07% per annum.
- Interest is applicable only if the monthly account balance does not fall below AED 3,000.
- All interest rates are subject to FAB’s prevailing terms and conditions.
Required Documents
- To open a FAB Elite Savings Account, customers are generally required to submit:
- Completed account opening application form
- Valid passport (original and copy)
- Emirates ID (original and copy)
- Valid UAE residence visa (if applicable)
- Proof of income or employment, if requested
- Note: Additional documentation may be required depending on residency status, customer profile, and compliance checks.
Main Benefits
- No stress of maintaining a minimum balance, making it cost-effective for premium customers.
- Opportunity to grow savings through tiered interest earnings.
- High liquidity with free and convenient access to cash locally and internationally.
- Ideal for frequent travelers and expatriates due to multi-currency flexibility.
- Reward Stars earned on everyday spending, redeemable for travel, shopping, cashback, and bills.
- Enhanced banking experience aligned with Elite lifestyle and Gold customer expectations.
- Strong balance between savings growth, spending rewards, and lifestyle privileges.
Frequently Asked Questions
Q. Is there a minimum balance requirement for the FAB Elite Savings Account?
A. No, there is no minimum balance requirement to maintain the account.
Q. Does the FAB Elite Savings Account earn interest?
A. Yes, the account earns tiered interest on AED balances, provided the balance does not fall below AED 3,000 during the month.
Q. What debit card do I receive with this account?
A. You receive a free Elite World Mastercard debit card with premium global benefits.
Q. What are the daily withdrawal and spending limits?
A. ATM withdrawals can be up to AED 25,000–40,000, and retail purchase limits can go up to AED 75,000, subject to bank policy.
Q. Are ATM withdrawals free?
A. Yes, UAE ATM withdrawals are free, and you get four free international withdrawals per month.
Q. Can I earn rewards on debit card spending?
A. Yes, you earn 60 FAB Rewards per AED 100 spent locally and 120 FAB Rewards per AED 100 spent internationally.
Q. Who is this account best suited for?
A. This account is ideal for customers seeking premium banking benefits, high liquidity, reward earnings, and flexible savings without balance restrictions.
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