National Bank Of Ras Al Khaima (Rakbank), a UAE-based retail bank, has launched a new online-only savings account F@st S@ver Account to both existing bank customers as well as new customers.

Rakbank claimed that, in addition to offering attractive returns on savings, F@st S@ver would also offer a simple and hassle-free online experience, giving customers the opportunity of opening the account without the need to visit the bank’s branches.

The F@st S@ver account, which is available in both the dirham and dollar currency, offers its customers an interest rate of 3% on AED accounts and 1.5% on USD accounts. In addition, the account requires no minimum balance and maintenance charges for eligible customers and offers customers a Free Debit Card with the opening of the account.

Graham Honeybill, GM of Rakbank, said: “Rakbank is constantly looking at opportunities to offer customers new banking solutions and enhance their overall experience. With more customers using availing online services, the Bank is offering customers the F@st S@ver Account to combine both banking convenience as well as excellent returns on savings.”

Rakbank also offers a range of conventional savings accounts for its customers including RAKsave, which offer attractive interest rates, a free Debit Card, and convenient fund transfer between accounts.