If you have cash sitting idle in a UAE current account, the country's biggest banks are now competing for it. First Abu Dhabi Bank is paying 5.6 per cent on new savings until the end of December, while Emirates NBD is advertising up to 5.5 per cent on larger new deposits.
The headline numbers come with conditions worth reading. FAB's rate applies only to new money, meaning any balance above what you held on 31 August, and the campaign runs from 1 September to 31 December 2026. Its previous campaign paid 4 per cent, and the account's standard rate sits at roughly 3.25 per cent, which is where savers should expect to land once the offer ends. The account has no minimum balance and no withdrawal restrictions.
Emirates NBD's top rate is reserved for what the bank classes as larger deposits. Its everyday fixed deposits pay considerably less: about 2.85 per cent for twelve months and 2.15 per cent for one month.
Behind the offers is a liquidity squeeze. Lending has been running well ahead of deposits, with credit up about 18 per cent year on year in the second quarter against deposit growth of around 14 per cent. That has pushed the banking system's loan-to-deposit ratio above 80 per cent, up from 77.7 per cent in 2025. Heavy public-sector infrastructure borrowing is keeping credit demand high, a temporary central bank liquidity support scheme expired in September, and a large slice of Gulf money has flowed into an Indian dollar-deposit scheme for non-residents that raised around US$130 billion.
Analysts describe banks as paying a liquidity premium for fresh funds. For savers, the window is attractive but short, so compare the fine print, especially the definition of new money and the end date, before moving funds.