First Abu Dhabi Bank Review part 2 – Part one is here.
FAB Products and Services
First Abu Dhabi Bank offers its foreign clients products and services of its two main segments: personal and corporate/investments.
With the FAB Personal banking you will get:
- accounts
- cards
- prepaid cards
- loans
- mortgages
- bancassurance
- other services
And the corporate/investment segment can provide you these products and services:
- global transaction banking
- global corporate finance
- global markets
- business banking
- CIB – FAB Islamic
To have a general imagination of both segments let’s have a quick view on the few FAB accounts for the personal segment and after we will review the main services provided by the bank’s corporate segment.
First Abu Dhabi Bank Accounts
The bank has ten different current and savings accounts for different needs of the customers, but we will review only some of the most popular ones.
Personal Current Account
Main Features
- Free FAB Mastercard debit card
- First checkbook free
- Free access to lounges at select airports for FAB Platinum Mastercard debit card holders
Eligibility
- Applicant must be a resident of the UAE
- Employed, self-employed or unemployed
Required documents
- Completed account opening form
- Copy of valid passport/resident visa/Emirati ID (originals must also be submitted)
- Income verification
- Note: Additional documents may be required in each specific case.
The FAB debit card will give you peace of mind when shopping online. You can shop with more confidence and get insurance coverage up to $1,000 per year if items are not delivered within 30 days, if the wrong items are delivered, or if items are damaged during shipping.
Personal Savings Account
Main features
- Available in dirhams and other major currencies.
- Earn interest rates on your account (subject to existing rates)
- Minimum average monthly balance, AED 3,000 or equivalent
- Free FAB Mastercard debit card
- Free access to the airport lounge without prior booking, just present your FAB Platinum Mastercard debit card.
Eligibility
- 18 years and older
- Salaried, self-employed and unpaid
- Open to UAE citizens, GCC citizens, resident and non-resident aliens.
Required documents
- Completed account opening form
- Copy of valid passport/resident visa/Emirati ID (originals must also be submitted)
- Income verification
- Note: Additional documents may be required in each specific case.
Personal Call Account
Features
- Earn interest on your balance* and access your money when you need it
- Available in UAE Dirhams and other major currencies.
Eligibility
- Available to UAE residents and non-residents
- Hired and not hired
Required documents
- Completed account opening form
- Copy of valid passport/resident visa/Emirati ID (originals must also be submitted)
- Income verification
- Note: Additional documents may be required in each specific case.
Which FAB bank accounts require a minimum monthly salary?
Each FAB bank account has a minimum monthly wage based on the following:
Minimum monthly salary of AED 5,000 or more:
- Personal current account
- Personal savings account
Minimum monthly salary AED 10,000 or more:
- FAB Etihad Guest Account
- FAB One Account
Minimum monthly salary AED 50,000 or more:
- FAB Etihad Guest Elite account
- Elite Current account
- Elite Savings Account
FAB Corporate and Investment Banking
The bank’s model is customer-centric and geo-centric to ensure greater proximity to the customers.
Building trust and relationships with the customers is at the heart of the bank’s growth strategy by offering market-leading products and services in the UAE and international network.
The dedicated account teams, backed by our product specialists, strive to provide local, government, government-related organizations, financial institutions, multinational corporations, and SMBs with best-in-class, customized solutions.
Global Transactional Banking
Global Transaction Banking offers cutting-edge products to business clients around the world, tailoring them to maximize working capital by reducing time and administrative processes.
Global Corporate Finance
Global Corporate Finance represents the investment banking activities of FAB. Combining local experience with international reach, they can offer award-winning closing, structuring, and distribution deals that are regionally dominant and internationally relevant.
Global Markets
The FAB’s Global Markets team brings industry-leading insights and leverages the power of the research, capabilities, and cutting-edge technology to offer world-class products through an integrated cross-asset platform. The bank can offer a wide range of investment markets such as FX/MMkt & Rates, equities, commodities, credit trading, eFX, global securities financing, etc.
CIB – FAB Islamic
FAB Islamic is a division of CIB that offers a full range of Sharia-compliant products.
FAB Islamic, through its in-house Sharia division, provides Sharia advice on all standardized and customized Sharia-compliant solutions offered by FAB Group. Sharia advisory services are backed by relevant Sharia research and experience to ensure that FAB Islamic’s overall Islamic solutions remain innovative, creative, and competitive while adhering to Sharia and regulatory requirements.
Business Banking
Leveraging the unique position, the bank supports its clients in the region and beyond to grow their business and achieve their goals.
FAB offers great business accounts. FAB’s range of personalized business account solutions will help you make the right decisions at the right time.
Each of the products is designed to give you the flexibility you need in today’s dynamic business environment and the freedom you deserve to make bold decisions. The bank’s range of business accounts includes:
Business Basic Account – an account that will help you cover all your basic banking needs:
- AED and multi-currency options (including USD, GBP, JPY, EUR)
- Reduced tariffs for banking services
- Minimum average monthly balance of AED 50,000
- Free domestic money transfers in both local and foreign currencies
- A wide network of branches, ATMs and cash deposit machines throughout the UAE
- Comprehensive banking services for online business
Business Advantage Account – this account will help you manage your business flexibly and easily with discounted rates and other exclusive benefits:
- AED and multi-currency options (including USD, GBP, JPY, EUR)
- Reduced tariffs for banking services
- Dedicated account manager
- Minimum average monthly balance of AED 250,000
- Free inward money transfers in both local and foreign currencies
- Free unlimited checkbooks
- A wide network of branches, ATMs and cash deposit machines throughout the UAE
- Comprehensive banking services for online business
Business Preferred Account – a comprehensive premium account with exclusive prices:
- AED and multi-currency options (including USD, GBP, JPY, EUR)
- Reduced tariffs for banking services
- Minimum average monthly balance of AED 500,000
- Free domestic money transfers in both local and foreign currencies
- Free cash transactions
- Free unlimited checkbooks
- A wide network of branches, ATMs throughout the UAE
- Comprehensive banking services for online business
Business Call Account – with the local and foreign currency demand accounts, you get attractive interest rates and a competitive fee and fee structure:
- Available for both UAE residents and non-residents
- Competitive tariff and fee structure
- Minimum balance AED 10,000 or foreign currency equivalent
- Multi-currency options for non-resident SMEs
- Attractive interest rates
Fixed Deposit – make sure you earn more money with the bank’s local and foreign currency fixed term deposit accounts, including preferential deposit rates and rollover options at expiration.
- Term from 1 week to 10 years
- Minimum balance AED 50,000 or foreign currency equivalent
- Competitive interest rates depending on the term and currency of the deposit
- Early withdrawal allowed
The bank’s business banking can also offer cards and loans, here are the main solutions you can get for your business.
POS credit
If you use point-of-sale (POS) credit cards for day-to-day business transactions, you can maximize the value of your POS receivables to speed up your funding with POS credit. Medium and long-term loans are available, giving you access to your money faster than ever.
What are the benefits of a POS loan?
- High loan amount
- Flexible duration and payment plans
- Competitive interest rates
- Simple and simple documentation
- Fast lead time
Business finance
Grow your business and achieve corporate goals with the range of financial products and services specifically designed for your growing business.
As a market leader in the UAE, the bank understands the needs of small businesses, the challenges you face, and the support you need to grow. They work closely with you to develop a capital injection plan, partnering with organizations such as the Khalifa Fund and The Mohammed Bin Rashid Establishment to help you realize your business ambitions.
Business Credit Cards – with the help of which you can turn business expenses into business income
Issued in your company name, your business credit card combines value, flexibility, exclusivity, and security. This can help you maximize your business’s income through low-interest rates and improved cash flow through longer interest-free payment periods. Here are the main benefits:
- Economical payment tool to manage your business expenses
- Combines value, flexibility, exclusivity and security
- Improves your cash flow with longer interest-free periods
Mortgage for business is also in the list of the bank’s offers. You can rise through the ranks with a flexible, commercial, or residential mortgage loan for businesses and business owners. Get one step closer to your corporate and personal goals.
What are the benefits of a commercial or residential mortgage loan with FAB?
- High loan amount
- Flexible terms and payment plans
- Competitive interest rates
- Simple and simple documentation
- Fast lead time
Commercial real estate financing
If you want to finance a completed or under construction real estate project for investment or business use, you should consider taking out a FAB loan for commercial real estate financing. Available to commercial clients, loans can be provided for a wide range of developments, including offices, warehouses, retail outlets and rental discounts.
Explore the comprehensive features and benefits of the Utmost International Collective Redemption Bond, comparing it with First Abu Dhabi Bank’s diverse range of products and services.
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