💵 Best UAE Savings Accounts (June 2025): Up to 6.25% Interest
- Kacper Duda
- Jun 18
- 3 min read
It's been a while since we last covered the best UAE savings accounts - and a lot has changed in the last few months!
You’d be forgiven for thinking there’s been a central bank rate hike (there hasn’t) with the best available savings rates now crossing the whopping 6% threshold.
Read on to find out:
Which banks offer 6%+ savings rates
The newbie on the scene: Savings linked to salary accounts
In the news: US Fed expected to maintain rates later today (meaning the rates below are more likely to hold for now!)
Savings linked to salary accounts - the newbie on the scene
Banks are fighting to be your No. 1 and there is no better way to do that than to convince you to transfer your salary to them. That's why both Mashreq and Wio introduced savings accounts with higher 6%+ rates for customers who transfer their salary to them.
Best UAE savings accounts currently
We're continuing to scan the 16 leading UAE banks for best savings rates and there are significant differences between them. Some rates are as low as 0.2% while others are as high as 6.25%.
We chose the top 6 accounts that offer rates in excess of 4.5%.
Savings accounts with salary transfer
These new-generation accounts offer high headline rates - but only if you’re willing to move your salary over.
Savings account | Interest rate | Any catches |
|---|---|---|
6.25% | Requires a minimum AED 10k salary transfer to be set up. | |
6% | Requires a minimum AED 15k salary transfer to be set up. |
Both of these are variable promotional rates, and there’s no guarantee how long they’ll stick around. But if you’re considering switching banks, these offers might just tip the scales.
Standard savings accounts
Don’t want to move your salary? These accounts offer solid rates with fewer strings attached though often with a minimum balance requirement.
Savings account | Interest rate | Any catches |
|---|---|---|
5% | Requires minimum balance of AED 50k | |
5% | Interest rate made up of 2% + 3% bonus rate (bonus rate reduces to 2.5% from 01/08). Bonus rate is paid on new funds only and requires as min. balance of AED 50k. | |
4.5% | Rates are currently advertised as valid until 30 Jun 2025 but FAB have a habit of extending the promotion regularly. New funds only. No min. balance required. | |
4.5% | These 1-month and 3-month fixes don't have any withdrawal penalties, so we'd recommend them over Wio Plus flexible savings space for now (which is at 3.75%). Min. AED 35k balance required for Wio Plus. |
As always, make sure you read and understand the T&Cs for any products you take out to make sure it suits your needs.
Why should you keep your savings in a savings account?
Simple - to earn something rather than nothing. If your money is sitting in a current account earning 0%, it’s quietly losing value due to inflation. At 5–6% interest, you could earn AED 250–300 per year for every AED 5,000 you save. That’s money for doing absolutely nothing - and a compelling reason to move your cash somewhere it works harder.
Are UAE banks safe to keep money in?
In short, yes. All the banks featured here are regulated by the UAE Central Bank and are widely considered safe. While the UAE doesn’t offer a formal deposit protection scheme like some other countries, it maintains strict regulatory oversight of licensed institutions. If you have larger amounts, it might be worth spreading across a couple of accounts to reduce risk.
You can always refer to the CBUAE’s official list of regulated financial institutions for peace of mind.
IN THE NEWS - US Fed expected to hold rates later today
The US Federal Reserve meets eight times a year to decide whether to change interest rates. The next decision is due later today, and most analysts expect the Fed to keep rates unchanged.
Because the UAE Dirham is pegged to the US Dollar, the UAE Central Bank typically mirrors US interest rate decisions. While that means the cost of borrowing will likely remain the same, so should the savings rates we covered above (good news!). Read more in this KT article.
Disclaimer: Please bear in mind that this email does not constitute financial advice. Any choices you make you are solely responsible for. We always aim to provide highest quality, independent views but do your own research to ensure you’re comfortable with any changes you make to your personal finances.
