Letters spacing
Line height
Default
Big
More big
Default
Black & White
Customers in need of extra care Save smarter with automated regular contributions
srchThumbnail:/en/Images/save-smarter-200x200_tcm41-561866.webp
A goal-based account is a financial tool, usually a savings account, designed specifically to help you reach a defined financial goal. Instead of pooling all your savings into one general account, you create separate accounts for each goal, each with its own target amount and timeline. Think of it as giving your money a mission.
Unlike traditional savings accounts, goal-based accounts are centered around specific financial targets. These can range from short-term aspirations like funding a vacation, building an emergency fund or purchasing a gadget or long-term ambitions such as buying a home, financing a child’s education or preparing for retirement.
What are the benefits?
- It allows you to set specific financial targets and track progress over time. By linking savings to specific objectives, you stay motivated and make more intentional financial decisions.
- Instead of manually transferring funds, you can set up auto-scheduled contributions that align with your income and lifestyle. This “set it and forget it” approach:
- Reduces decision fatigue
- Builds consistency
- Helps reach goals faster
- Embraces disciplined long term savings
- Goal-based accounts can be opened instantly online. They are 100% self-service mostly through the mobile app. You will have real-time visibility where you can easily monitor contributions and goal achievement.
- Designed to support your financial goals, goal-based accounts may offer a competitive bonus interest in addition to your standard earning, making your journey toward financial success even more rewarding.
Important information
- Eligibility for the interest payout may mainly tied to the successful execution of all scheduled automatic contributions.
- Avoid withdrawals as these may lead to loss of eligibility for a higher interest rate.
- Goal-based account cannot be opened as a joint account or for a minor.
- Debit card or ATM card may not be linked to this account.
Eligibility criteria
To be eligible for these accounts:
- You must have an existing current or savings account.
- Minimum of 21 years old and a UAE resident.
- Registered for the mobile app.
How to apply?
Instant account opening can be done online through the mobile banking app.
Discover alternative accounts to support your financial goals. Click here to learn more.
Tags: Working Professional Restructuring Finances Reducing Debt Improving Credit Getting Financially Aware Knowing Your Financial Options
