FAB Bank Review| North Loop Official Blog
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16 Nov 2020

FAB Bank Review

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About FAB -

First Abu Dhabi Bank or FAB is one the largest bank in the United Arab Emirates. It offers various financial products as well as services like corporate and investment banking. FAB got formed after a merger between First Gulf Bank and National Bank of Abu Dhabi and offers an extensive range of financial solutions.

First Abu Dhabi Bank Savings Account -

First Abu Dhabi Bank savings account offers several features and benefits like free international remittance, high withdrawal limit, and a free debit card that comes with additional covers. The different types of FAB savings account available in the UAE are as follows -

Elite Gold Savings Account - This account offers various banking services and also competitive FAB interest rates. Some of its other features are -

Multiple currencies - This bank account is available in several other currencies.

Minimum balance - There is no minimum balance requirement for FAB savings account.

International Remittance - You can enjoy your first international remittance free of charge every month. However, this benefit is available only for savings account held in AED. Moreover, FAB charges remain to be applicable.

Interest Rate - You get competitive FAB interest rates on this savings account as well.

Debit Card - The bank offers cash withdrawals from all ATMs within the UAE for free. You also get daily cash withdrawal and purchase limit of AED 25000 and AED 75000 respectively. You can also enjoy up to 4 free international and GCC cash withdrawals per month through various ATMs.

Personal Savings Account - This FAB savings account also offers some benefits that are listed below -

Multiple currencies - This bank account is available in several other currencies.

Minimum balance - You have to maintain a minimum average balance of AED 3000 for this savings account.

Interest Rate - The bank offers competitive rates on this FAB savings account.

Debit Card - The bank offers cash withdrawals from all ATMs within the UAE for free. You also get daily cash withdrawal and purchase limit of AED 15000 and AED 40000 respectively. You can also enjoy up to 4 free international and GCC cash withdrawals per month through various ATMs.

Offers - This savings account also comes with additional offers like free access to international lounges throughout the Middle East without any prior booking.

Get a zero-balance, no-fee NRE/NRO account with North Loop in 5 minutes

Eligibility criteria to open a FAB savings account -

The eligibility criteria that you must fulfil to open a FAB savings account are as follows -

Elite Gold Savings Account - TRB (Total Relationship Balance) must be AED 500000 equivalent and more. Here TRB equals your saving or current bank balance along with investments and fixed deposits.

Personal Savings Account - To open this FAB savings account, you should be 18 years or above, self-employed, salaried or non-salaried. Also, this account can get opened by GCC Nationals, UAE nationals, non-residents as well as resident expatriates.

Documents required to open the FAB saving account -

Elite Gold Savings Account -

Duly filled account opening form
Salary certificate
Copy of resident visa
Copy of passport
Emirates ID

Personal Savings Account -

Duly filled account opening form
Salary certificate (Only required when applying for credit facility)
Copy of resident visa
Copy of passport
Emirates ID

FAB review -

Given how FAB is a public sector bank, it enjoys a strong network and global presence offering comprehensive retail and commercial banking services to its customers. However, customer feedback on many trusted platforms for this bank is mostly negative. Most of the users have complained about its customer services and personal loan solutions. They have alleged that the bank does not confirm the loan amount, and disburses the same without providing any further details. Some have even said that the bank only gives hard copies for most of the official documents that make it difficult to track them. Overall, the bank has gotten 98% negative votes, with most customers disappointed with its poor customer care support system.

Conclusion -

If you wish to open an online bank account and enjoy digital banking services from anywhere in the UAE, you can do so with North Loop. We offer a wide range of financial products and services like personal loans, home loans, insurance services, investment instruments, NRE account, savings account, fixed deposits etc. The application process is quick, and our customer support system is also available 24*7 to ensure you have a seamless banking experience.

To sign up with us, click here.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.