Tiered Savings Account – Al Masraf

Tiered Savings Account

Tiered Savings Account

Power up your savings with the Al Masraf Tiered Savings Account. This account is for customers who want to save for the future and earn interest based on balances maintained. We are offering attractive returns to customers, while they enjoy the flexibility to access and withdraw the funds from their accounts as and when required.

Eligibility

UAE Nationals, Residents & Non-Residents of UAE.

Minimum age for account opening is 18 years.

Minors are eligible but require presence of guardians for all banking transactions.

Joint account is possible with one first degree relative.

Features

Offered in AED
(UAE Dirham) only.

No minimum
balance requirement.

Interest is paid monthly and calculated on the
monthly average balance.

Monthly statement available on email, Mobile or Online Banking

No minimum balance charges.

Click here to view the Key Fact Statements English

Click here to view the Key Fact Statements Arabic

Interest rates on credit balances

The below table reflects the interest rate applicable for Monthly Average Balance in each tier. The Bank provides an easy to use calculator on the website as part of our endeavor to enhance transparency about the product.

Tiers Monthly Average Balance for the Tier Interest rate p.a. application for the Tier
1 Less than AED 50,000 0.01%
2 AED 50,000 to less than AED 500,000 0.70%
3 AED 500,000 to less than AED 1 Million 1.60%
4 AED 1 Million to less than AED 5 Million 1.10%
5 AED 5 Million and higher 0.01%

Please note that Bank reserves the right to alter the rates as well as tiers.

We recommend to use the below calculator for more clarity on the products.

For more details on the product please call 600 52 9999 or write to us on info@almasraf.ae

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