Residency
UAE resident
ADCB Goal Savings Account
ADCB Goal Savings pays 2% a year on scheduled savings, plus a 2.5% bonus when you reach your goal on time. For existing ADCB customers, in the mobile app.
An existing account with ADCB is required, such as ADCB Current Account.
At a glance
Key facts
Monthly FeeFree to AED 100/month
Minimum SalaryNo minimum salary
Interest PayoutMonthly
Account access
No debit card included.
An existing account with the bank is required.
The ADCB Goal Savings Account is built around a target. You choose an amount and a date, and ADCB moves a fixed contribution from your current or savings account on a schedule until you get there. You open and track it in the ADCB mobile app. It has no debit card or cheque book, it is in your name only, and you need an existing ADCB Current or Savings Account to feed it. It rewards sticking to the plan: part of the return is paid every month, and part is held back until the goal date. If you want a saver without a schedule, look at the Active Saver.
Who can open it
Minimum salary
No minimum
Salary transfer
Not required
Existing ADCB account
You must already hold an ADCB Current or Savings Account.
Adults only, sole ownership
Applicants must have reached the age of majority. No joint accounts.
Fees and balance
There is no fee attached to the goal account itself. ADCB charges a single relationship fee per customer, based on everything you hold. Your funding account and your goal savings both sit inside that relationship. The fee is zero with a total relationship balance of AED 20,000 or more, with a salary of AED 15,000 or more credited directly to ADCB, or with a smaller salary plus an ADCB credit card, overdraft or loan. In other cases it is AED 25 a month where a smaller salary is transferred and AED 100 a month where none is. Closing the account also ends your claim to the bonus, and a closure between 30 days and six months after opening costs AED 105.
Monthly fee
Free
Total relationship balance of AED 20,000 or more, a salary transfer of AED 15,000 or more, or a smaller salary transfer with an ADCB credit card, overdraft or loan.
Monthly fee
AED 25
Salary transfer under AED 15,000 without an ADCB credit card, overdraft or loan.
Monthly fee
AED 100
Every other Aspire customer.
Account closure fee
AED 105
Charged only within 6 months of opening. Waived within 30 days.
In plain words
- Fee levels
- The monthly fee has more than one level. The condition you meet decides which one applies, and you pay that one level only, never the levels added together. More on this
- Account closure fee
- A one-off charge of AED 105 for closing the account within 6 months of opening it. Closing it later costs nothing. Closing within the first 30 days carries no charge either. More on this
Interest
The account balance must not surpass AED 10 million. The goal achievement bonus requires meeting the agreed goal amount and goal achievement period; the standard rate is paid monthly.
How interest works
PayoutMonthly
Calculated onAverage monthly balance
How interest works
PayoutOn the goal date
Calculated onEnd-of-day balance
Rate typeAdded to the base rate
- On goal achievement
In plain words
- Annual rate
- The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
- Bonus rate
- A rate paid on top of the account's standard rate when you meet its condition. The two are added together for the interest you earn. More on this
- Paid on the goal date
- You set a date for your savings goal when you open the account. The interest is paid on that date. More on this
What your money earns here
Held for
1 year
The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates
AED 200
interest over 1 year
2%
a year
interest earned over time
The standard rate is paid on the first day of the following month. The bonus is worked out on the end-of-day balances for the whole goal period and paid in one amount on the goal date. To receive it you must reach the goal amount, keep the goal amount from being reduced, and keep the account open until the date. You can miss one contribution and still qualify if you pay it back in before the goal date. Missing more than one loses the bonus. You can also withdraw up to the value of one monthly contribution, as long as you return it before the goal date.
Benefits
Scheduled Contributions
Automatic transfers move a set amount from your current or savings account.
Goal Achievement Bonus
A 2.5% a year bonus is paid on the goal date when the conditions are met.
Goal Tracking in the App
Progress toward the goal is tracked in the ADCB mobile app.
How to open
Before you apply
1.An existing account with the bank is required.
2.No minimum salary.
3.Salary transfer is not required.
4.No debit card included.
Application steps
1.Make sure you hold an ADCB Current or Savings Account to fund the goal.
2.Open the ADCB mobile app and go to Accounts & Deposits.
3.Choose New account, then Goal savings account.
4.Follow the on-screen instructions to set the goal and the scheduled contribution.
Good to know
Good option for
Existing customers saving a regular amount toward a dated target who are confident they will not need the money before then.
Consider another account if
Your income is irregular or you may need to dip into the savings. Missed contributions and withdrawals put the bonus at risk, leaving only the standard rate.
Frequently asked questions
Get answers to common questions about the ADCB Goal Savings Account