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.
Tiered Savings Account
• 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.
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 firstname.lastname@example.org