Zero balance account opening online is now easier than you think. A zero-balance account in UAE is one that does not require you to keep a minimum balance at all times. Unlike a regular savings account, there are no penalties imposed on this account if your balance falls to zero. While the absence of minimum balance maintenance is the primary distinction between a standard and a zero-balance account.
The savings account is one of the most popular types of accounts that the general public opens as a personal account in any bank. A savings account, as the name implies, is intended to encourage account holders to deposit and save money. To open a savings account in UAE, you must meet certain criteria, including a minimum salary . Some banks do not require a certain minimum salary to open an account. These accounts are known as zero balance account in UAE.
Which bank is better for zero balance in Dubai and UAE?
Zero balance accounts are very useful because they are easy to maintain and there are no fees if the account is out of balance. In the UAE, there are several banks that provide Zero Balance Accounts. We have compiled a list of the best banks which provides zero balance account in UAE for your convenience.
Best Banks for Zero Balance Accounts in UAE
Mashreq Happiness Account
ADIB Smart Banking Account
Commercial bank of Dubai(CBD) ESaver Account
FAB iSave Account
RAK Bank Fast Saver Online Account
HSBC Esaver Account
Emirates NBD Liv. Account
Best Zero Balance Accounts in UAE
Almost all top banks in the UAE are now providing a zero Balance account to their customers. Each one comes with its own set of instructions, benefits, conditions, and rules. The first and most important feature is that no minimum or average monthly balance is required.
This is one of the most popular and best zero balance accounts in UAE. Let us look at some of the key features of the ADIB Smart Banking Account:
Can instantly open an account online
A personalized debit card is available.
Profit on each dirham in the account
There are no fees for failing to keep the account balance up to date.
Can use the smart banking mobile app to gain access to the account
Applicant must be between the ages of 18 and 24 and have a minimum salary of AED 5000.
You can earn money by referring friends.
No Charge for withdrawal on ATM
Eligibility
Any UAE resident over the age of 18 can have this zero balance account opening in their name. Earning personnel should be paid at least AED 5000 per month. Zero balance account for housewife in UAE is possible under some conditions such as must have a valid ID and visa status. Only students 24 and under (with a student ID) are eligible for the non-income-based group.
This is one of the zero balance savings accounts that offers some of the highest rates of interest on deposited funds, as well as a slew of other offers. Let us look at some of the key features of the CBD Esaver Account:
No need to keep a minimum balance in the account.
There is no maintenance fee.
Average monthly balances earn up to 1.5% interest.
Three debits (transfers, payments, etc.) from the Esaver account per month Customers can use CBD Online Banking.
The First Abu Dhabi band iSave Account is the one that provides some of the best in class deals on its zero balance savings account to account holders and is constantly introducing new, exciting things. Since it doesn’t require minimum salary, this could be considered as best zero balance account for housewife in UAE. This is one of the zero balance savings accounts that offers some of the highest rates of interest on deposited funds, as well as a slew of other offers. Let us look at some of the key benefits of the CBD Esaver Account:
There is no minimum balance requirement for the account, nor are there any fees or penalties.
The account also does not impose any restrictions on transactions or withdrawals.
The interest on savings is calculated based on the account’s monthly average balance.
People who already have an account with FAB can open an iSaver account through the bank’s mobile app or through net banking.
For this account, the bank provides two currency options: AED and USD. Account holders’ interest rates for both currencies differ. When opening a Fast Saver Account with RAKBank, all applicants are free to choose the currencies without any additional formalities or conditions.
Things to check before getting a zero balance accounts in UAE
No initial deposit requirement
No/Low minimum salary criterion
Account with zero maintenance charge
New to bank customers are eligible to open an account
Key Benefits:
No minimum balance requirement on the account
No charges for maintaining an account
5 utility payments or 1 cash withdrawal is allowed per month
