A Wio Personal account
Saving Spaces are created inside the current account, in the Wio Personal app.
Wio Saving Spaces
Wio Saving Spaces are savings pots inside your Wio current account with no minimum and no lock-in. They pay 3% a year on Plus and 3.25% on the Salary Plan.
An existing account with Wio is required, such as Wio Personal Current Account.
At a glance
Key facts
Annual RateUp to 3.25% interest
Minimum BalanceNo minimum balance
WithdrawalsAny time
A Saving Space is a pot inside your Wio current account where you set money aside for a goal. It can be held in AED or USD. Card payments and direct debits do not draw on a Saving Space, apart from repayments on Wio credit facilities and fees Wio is entitled to deduct. To spend the money, you move it back to the current account first, which you can do at any time. There is no minimum balance and no fixed term.
You cannot open a Saving Space on its own. You need a Wio Personal Current Account first, and the plan on that account decides whether your savings earn anything.
Who can open it
Fees and balance
Minimum balance
None
Interest
How interest works
PayoutMonthly
- Salary Plan with monthly salary of AED 15,000 paid to Wio
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
- Conditional rate
- A rate that applies only while you meet the condition listed beside it. When the condition is not met, that rate is not paid. More on this
What your money earns here
Which rate applies to you
Plus Plan
Held for
1 year
Plus Plan.
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 300
interest over 1 year
3%
a year
interest earned over time
Wio adds up the balances of all your Saving Spaces in the same currency and applies the rate to that total. On the Salary Plan, interest builds up daily and is credited on the first day of the following month. Wio can change the rate, and interest you had already built up before a change is not affected.
Benefits
Savings Pots for Separate Goals
Create a space for each goal and add money automatically or by hand until you reach it.
AED and USD Spaces
Saving Spaces can be held in AED or USD.
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.Open in the app.
2.An existing account with the bank is required.
3.No minimum balance.
Documents and terms
Good to know
Good option for
Plus or Salary Plan customers who want savings they can reach on the same day, without committing to a term.
Consider another account if
You are on the Standard Plan, where Saving Spaces earn nothing, or you can leave the money untouched for a set number of months. Wio Fixed Saving Spaces pay a higher rate for a fixed term.
Frequently asked questions
Get answers to common questions about the Wio Saving Spaces