The FAB iSave account is currently one of the most famous accounts in the United Arab Emirates. Almost all banks offer different types of accounts to their customers and account holders. While other banks provide good accounts, the FAB iSave account is the best option for those looking to save money with the best interest rates. Many people are unaware that if they save money in current accounts, they do not receive any extra benefits. However, if they save money in a special category of account that provides interest on funds, they will receive extra funds on their deposits. In this article, we will explain how you can open the FAB iSave account online and why you need this account in the United Arab Emirates, as well as why it is the best account compared to others. You may also like to read Fab Bank Salary Account Opening Online Quick Guide 2024.
Fab Isave Account Requirements
All account opening processes require certain basic requirements. Similarly, the FAB iSave account also has specific requirements that you need to fulfill. These requirements are:
- You must have a valid Emirates ID that is not expired or damaged.
- You must be a resident of the UAE. Having an Emirates ID indicates that you are a resident of the UAE.
- You must be 18 years of age or above. Individuals below 18 years old cannot apply for this account.
- Only individual persons can apply for this account; you cannot apply for a joint account where one or more partners can control the account.
These are the basic requirements that you must fulfill to open a FAB iSave account in the UAE.
Many people do not know how to calculate the interest amount. You do not have to worry about it because we have also provided the FAB iSave account calculator below. You only need to enter your account balance, and your yearly interest rate will be displayed after clicking the calculate button. It is the easiest method to check your yearly interest amount in the FAB iSave account.
FAB iSave Account Calculator Per Year
Why You Need To Open Fab Isave Account
All other banks also offer similar accounts, but the FAB iSave account is unique from other bank accounts because of its features. When a bank offers a special account, it always comes with special features that most people are not aware of. Many iSave account holders are also not fully aware of the features of this account. Here are a few basic and useful feature details that are enough to choose the FAB iSave account for your future savings and the best interest rate:
One of the best things about this account is that you are not required to maintain a minimum balance in the FAB iSave Account.
In the FAB iSave account, you have unlimited transactions for withdrawing funds from the account, which is great. You can withdraw your funds whenever you want. Most banks do not provide this type of feature in their accounts.
Another great thing is that this account shows your balance in AED, which means your funds' exchange rates will always be the same as the country's exchange rate. Most banks do not provide the same currency rate funds in your account, which means your funds could be affected by currency inflation.
Moreover, you can easily open this iSave FAB account through the mobile app within a few minutes. This means you do not have to visit any branch or wait for a bank response; you can open this account in just a few steps.
If you are in the UAE and working for a reputable company, you should have a valid account with the best bank. That bank should provide all the basic services to its customers. Therefore, the FAB iSave account offers all the best and affordable services. You can save your future funds and also make some decent extra money with it.
Fab Isave Account Open Through Visiting Branch
You can easily open the FAB iSave account by visiting the branch or by scheduling an appointment to open the account at the bank. Nowadays, you can access every service through online website portals. Similarly, you can also request an appointment to open the FAB iSave account in the nearest branch in the UAE. If you are wondering how to schedule an appointment for opening the iSave FAB account, do not worry; the steps are given below. You just have to follow these steps, and then you will automatically receive a call from the bank for the account opening process:
- First, search for the FAB iSave account on Google.
- Click on the first available result.
- You will be directed to the iSave account details page.
- Alternatively, you can visit this page through the direct link provided. ( iSave Account - No Minimum Balance| FAB - UAE (bankfab.com) ).
After reaching the FAB iSave account page, you can read all the guidelines related to this account. Moreover, all the features and related requirements are also mentioned on this page. If you want to read all the details, please scroll down the page and come to the form where you have to provide information about yourself.
You need to fulfill the requirements in these available forms, which are easy and basic. First, you have to write your first and last name, which is basic and common because if the bank knows your name, they can contact you.
After that, you have to write your company name if you want to; otherwise, it's optional, and you can skip this box. In the next box, you have to write your phone number, which is important because all other details will be sent to this phone number, and the bank will also contact you through this phone number. Make sure to write a valid and your own phone number. Similarly, you have to write your email address where you will receive promotional emails and monthly statements.
Next, in the form, you have to select your state, meaning you are from Dubai, Ajman, etc. Simply write your emirate. Then, in the next box of information requirement, you have to write your nationality, meaning which country you are from before coming to the UAE. However, before selecting your nationality, you also have to write your monthly salary, meaning how much salary you are receiving from the company where you are working.
At the end, click on the "I agree to the terms and conditions" checkbox and click the "Apply" button. Within a few hours, the bank will contact you and guide you for further details related to FAB iSave account opening.
Fab Isave Account Open Through Mobile Application
You can also open your FAB iSave Account through the mobile application. Nowadays, most banks provide this service, allowing you to open your bank account through a mobile app. This method saves time and is also effective because you do not have to visit any branch or do any paperwork. Only a few steps are required, and your account will be activated. Here, we will explain the method for opening the iSave account in the FAB Bank through the mobile app:
First, you need to install the mobile application for the FAB iSave account creation. You can open this mobile app through the Google Play Store or the App Store. Simply search for "FAB Bank" in the Google Play Store or the App Store. Then, click on the first available search result and click to install the application. After installing, click on the "Open" button to complete the process. You can also open it through your mobile app dashboard. After opening the application, you will see the main page of the FAB Bank application, where two different options are available: "Join" and "Already a Customer." You have to click on the "Join" button, as you are going to join the FAB bank service by opening the iSave Account. A screenshot of this step is also mentioned below:
After clicking on the "Join" button, you will see a new page where you will find two more options related to FAB bank services. These options are for Islamic services or FAB Common services. Here, you have to click on the first available option, which is FAB. Simply click on this option and move to the next step. Make sure that you do not choose the FAB Islamic option.
After selecting the FAB option, you will be presented with different options related to FAB services, such as applying for a credit card or opening a bank account. You should click on the first available option, which is "I want to Open an Account," as you are going to open a FAB iSave account. After clicking on this option, a new pop-up notification box will appear with some guidelines. Read these guidelines and then click on the "Continue" button.
Next, you will be taken to a new page in the FAB bank mobile app where different account categories are available. Here, you have to select the savings account and the iSave FAB account because you are going to open this account. Before selecting the account category, you need to enter your mobile number and email address, and confirm these details through OTP code verification. Simply write the code into the available boxes and proceed to the next step.
After selecting the iSave account category, you will move to the next page where you have to provide your mobile number and email address. Make sure to use your own mobile number and email address because you will receive an OTP code on both details. After verifying your mobile number and email address, you will move to the next page where you have to provide some details about yourself, such as whether you are a salaried person, your salary, which emirate you belong to in the UAE, and also select the nearest FAB branch. Screenshots of these steps are also provided below:
After entering all these details, you will need to scan your Emirates ID, which is the main document that shows you are a valid resident of the UAE. Simply scan your Emirates ID with your mobile camera. You need to scan both the front and back sides of the ID using the mobile application. Additionally, you will need to scan your Emirates ID chip. To do this, remove any cover on your mobile phone and touch your Emirates ID chip to the back camera side of the mobile. After this, your Emirates ID details will be displayed on your mobile screen. Verify your details and click on the "Continue" button.
Next, you will need to verify your face. Ensure that your background is not noisy and is not full of color. After the face verification, you will need to provide any other information required about yourself. Once you have completed these steps, you will have successfully created your FAB iSave account. Now, you can add funds to this account. If you encounter any issues, you can contact us, and we will help you as soon as possible.
