Having money in the bank has many advantages, including easy access and low risk. These perks in combination with a lack of understanding of other investment options mean that many people continue to park their savings in a regular account with no growth.
Financial experts agree that other than saving for short-term goals or emergency funds, putting all your money in a regular savings account could diminish its value in the long run due to inflation.
Deciding where to hold your money is dependent on inflation, financial goals and the need for liquidity.
Choosing the ideal savings scheme
“One must consider the current inflation rate to ensure that the savings earn a rate of return that matches or surpasses inflation, preserving the purchasing power,” says Jelena Janjusevic, associate professor of finance at Heriot-Watt University Dubai.
“Also, assess risk tolerance as higher yields typically accompany greater risks, and determine how much risk you are comfortable assuming to achieve a higher return on your savings.”
The projected inflation rate in the UAE for 2024 is around 2.3 per cent, according to the Central Bank of the UAE.
So, unless your savings in the country are increasing in value by at least 2.3 per cent per annum, you’re losing money.
“Evaluate liquidity requirements and choose a savings vehicle that permits easy access to funds without penalties or limitations,” Ms Janjusevic says.
“Lastly, align your yield calculations with long-term financial objectives, whether saving for immediate needs or future goals such as retirement.”
We compiled a list of eight low-risk savings products in the UAE.
National Bonds
National Bonds claims it offers profits ranging up to 11 per cent per annum across diverse products such as Second Salary, The Payout, Term Sukuk and My One Million.
As an example, the Term Sukuk is great for someone who already has money saved and can keep it parked for a short time. This Sharia-compliant low-risk bond instrument has tenures starting from three months for a year at a minimum investment of Dh10,000. Profit rates in 2023 ranged from 4.4 to 4.9 per cent per annum.
However, if you need a more liquid option, National Bonds has products where money can be redeemed easily after an initial lock-in period, which ranges from 30 to 90 days.
Subscription fees and withdrawal charges may apply, depending on the timing of the withdrawals.
Mashreq Money Multiplier
This savings account in Mashreq offers 1.5 to 3 per cent profit on savings tied to a spend/remit condition. For instance, if you save Dh10,000 to Dh29,999 and commit to a spend/remit slab of Dh3,000 to 7,999 in a month, you’ll be eligible to earn 1.5 per cent interest.
The highest rate of 3 per cent is paid to savers who hold an average monthly balance of Dh150,000 to Dh200,000 with a monthly spend/remit requirement of Dh20,000. If the saver falls below the spending threshold, interest paid will be lower.
Wio Fixed Saving Spaces
Digital bank Wio offers up to 5.5 per cent in interest income for certain account holders. This rate is applicable on Fixed Savings Spaces, which is only accessible to Plus Plan subscribers. Tenures available range from one month to a year.
You could also choose to hold savings in the more flexible Saving Spaces which offers 5 per cent interest, subject to terms and conditions.
The Plus Plan requires account holders to maintain a minimum balance of Dh35,000 across the main account, savings and investments. The deposit itself does not have a minimum requirement.
Liv Money Ahead
Liv, the digital banking subsidiary of Emirates NBD, offers up to 3.5 per cent interest on their fixed savings scheme called Money Ahead Deposits.
A minimum deposit of Dh10,000 is required, with tenure options from one month to a year. Interest rates start at 2.1 per cent for a month, while the highest interest rate of 3.5 per cent is paid on deposits held for 12 months.
FAB iSave
First Abu Dhabi Bank (FAB) has a savings account that offers interest ranging up to 3.2 per cent, where the higher ranges are applicable for deposits more than Dh500,000.
However, the bank conducts promotional campaigns and this year account holders or new customers can start iSave accounts to get up to 5.25 per cent in interest income. This offer is only valid until September.
Money market funds make the perfect option for short-term savings
Bilal Abou-Diab,
co-founder and chief executive, Vault Wealth
ADCB Active Saver
Targeted towards individuals with a huge chunk of money in hand, this account offers interest rates of up to 2.25 per cent per annum.
The high rate is applicable to accounts that hold upwards of Dh2 million, making it suitable for residents who have a retirement fund.
Sarwa Save
Money market funds are now increasing in popularity as low-risk modest-growth avenues for investment.
Bilal Abou-Diab, co-founder and chief executive of Vault Wealth, says these funds make the perfect option for short-term savings and “allows the saver to hold something where their principal is highly liquid and super safe, yet generate a short-term income level that is in line with the interest rates available to uber wealthy individuals”.
UAE-based investment platform Sarwa has both Sharia-compliant and traditional savings products invested in money market funds starting from $500 and no lock-in period.
The traditional Sarwa Save+ has a projected return rate of 5.1 per cent before fees, while Sarwa Save Halal offers 4.6 per cent before fees.
The platform charges 0.5 per cent as an annual management fee.
StashAway Simple
StashAway, another UAE-based investment platform, also has a savings product where money is invested in a Sharia-compliant money market fund.
The management fee is 0.3 per cent with a projected rate of return of 4.7 per cent.
The National is not promoting these products. These rates are as advertised on published date and subject to terms and conditions, which can be changed at the discretion of the provider. All stock market investments are subject to market risks.
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
So what is Spicy Chickenjoy?
Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs: 2018 Opel Mokka X
Price, as tested: Dh84,000
Engine: 1.4L, four-cylinder turbo
Transmission: Six-speed auto
Power: 142hp at 4,900rpm
Torque: 200Nm at 1,850rpm
Fuel economy, combined: 6.5L / 100km
RACE CARD
5pm: Handicap (PA) Dh70,000 1,400m
5.30pm: Handicap (TB) Dh70,000 1,000m
6pm: Maiden (PA) Dh70,000 2,000m
6.30pm: Handicap (PA) Dh70,000 2,000m
7pm: Maiden (PA) Dh70,000 1,600m
7.30pm: Al Ain Mile Group 3 (PA) Dh350,000 1,600m
8pm: Handicap (PA) Dh70,000 1,600m
Amith's selections:
5pm: AF Sail
5.30pm: Dahawi
6pm: Taajer
6.30pm: Pharitz Oubai
7pm: Winked
7.30pm: Shahm
8pm: Raniah
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WORLD RECORD FEES FOR GOALKEEPERS
1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)
2) Alisson, Roma to Liverpool (£67m)
3) Ederson, Benfica to Manchester City (£35m)
4) Gianluigi Buffon, Parma to Juventus (£33m)
5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m
Sour%20Grapes
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UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Mina Cup winners
Under 12 – Minerva Academy
Under 14 – Unam Pumas
Under 16 – Fursan Hispania
Under 18 – Madenat
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
'The Last Days of Ptolemy Grey'
Rating: 3/5
Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro
Writers: Walter Mosley
Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
Listen to Extra Time
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Mohammed bin Zayed Majlis
Company%20profile
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SPEC%20SHEET
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Asia Cup Qualifier
Final
UAE v Hong Kong
TV:
Live on OSN Cricket HD. Coverage starts at 5.30am
Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
