Minimum salary
No minimum
FAB Personal Call Account
FAB Personal Call Account pays 0.02% interest a year on dirhams, credited monthly, with money available on demand. No debit card. AED 3,000 daily minimum.
At a glance
Key facts
Monthly Fee
AED 26.25/month below AED 3,000
Minimum BalanceAED 3,000
Minimum SalaryNo minimum salary
A call account is a holding account: your money earns interest and stays available whenever you call on it, with no fixed term. The FAB Personal Call Account works that way. It pays interest every month and can be held in dirhams or other major currencies, by UAE residents and non-residents alike.
It does not come with a debit card, so it is not built for shopping or ATM use. That is the main difference from the FAB Personal Savings Account, which has a card but pays its interest only twice a year. A call account also counts as the FAB account you need before you can book a FAB Fixed Deposit.
Who can open it
Salary transfer
Not required
Who can apply
UAE residents and non-residents, salaried or non-salaried.
Minors
Eligible under FAB's general terms and conditions for accounts.
Fees and balance
The bank asks for AED 3,000, or its foreign currency equivalent, to stay in the account as a minimum daily balance. When the balance slips under that, an AED 26.25 fee is charged for the month. Keeping the balance at or above the minimum on every day of the month is what avoids it.
An account closed within 6 months of opening is charged AED 105.
Minimum balance
AED 3,000
Monthly fall-below fee
AED 26.25
How to avoid the monthly fee Meet any one of these conditions.
- Keep a balanceBalance of AED 3,000 or more
- Other exemptionsCharged below AED 3,000 minimum daily balance.
Account closure fee
AED 105
Charged only within 6 months of opening.
In plain words
- Fall-below fee
- A monthly charge for holding less than the balance the bank asks for. Here it is AED 26.25, charged in a month when your balance is under AED 3,000. It is not charged in a month when you stay at or above that amount. 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. More on this
Interest
How interest works
PayoutMonthly
Calculated onLowest balance in the month
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
- Which balance counts
- The return is worked out on the lowest balance the account held during the month, so a withdrawal lowers the return for that whole month. 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 2
interest over 1 year
0.02%
a year
interest earned over time
The bank calculates each month's interest on the minimum monthly balance. In plain terms, it looks at the lowest balance the account reached during the month and pays interest on that figure. A balance that is high for most of the month but drops low for one day earns on the low figure. Each foreign currency has its own rate.
Benefits
Eleven Account Currencies
The account is offered in dirhams and other major currencies.
Accounts for Minors
Minors can hold the account under FAB's general terms and conditions for accounts.
How to open
Before you apply
1.No minimum salary.
2.Salary transfer is not required.
3.Minimum balance: AED 3,000.
4.No debit card included.
Good to know
Good option for
People who want a simple place to park money in dirhams or a foreign currency with monthly interest and no card attached, including non-residents.
Consider another account if
You want to pay or withdraw cash directly from the account, since no debit card is issued, or you are looking for a meaningful return. The FAB iSave Account pays a higher dirham rate to existing FAB customers.
Frequently asked questions
Get answers to common questions about the FAB Personal Call Account