Premier Accounts in Dubai, UAE

What is a Premier Accounts?

UAE is a land of opportunities and money. Time is of essence here and staying abreast with local and global changes is important for the health of your investments. While normal banking provides you with avenues to manage your regular banking needs, Priority or Premier banking gives you priority over regular customers and provides exclusive perks.

Why do I need a Premier account?

Traditionally, banking was divided in regular and private sections. Apart from regular banking, private banking, which is still available, was focused on providing highly personalized service to affluent customers. People who maintained healthy accounts with banks for a number of years, but didn’t have the money to qualify for private banking, gave rise to the need of Priority banking. It was a stepping stone towards having financial products tailor-made to suit your needs. Nowadays, customers who maintain a healthy bank balance are offered specialised services through Premier/Priority accounts.

Premier Account Interest Rates in UAE

Minimum Salary

Interest Rate

Loan Amount

Reducing Rate

Features of Premier Accounts

Let’s look at some benefits that you may experience as a Premier account holder:

  • Relation manager assigned to your account to cater to your banking needs.Relation manager assigned to your account to cater to your banking needs.
  • Dedicated service area at the branch – no need to stand in queues.
  • Free Cheque books.
  • Lifestyle benefits like health club access, valet parking, club discounts, etc.
  • Preferential rates on loans.
  • Seamless International banking.
  • Attractive foreign exchange and trade finance rates.
  • Free emergency services.

These benefits can vary depending on the bank you choose. Having said that, it is important to note that as a Premier banking customer, you are bound to have some additional benefits over regular account holders.

Types of Premier accounts

As Priority/Premier banking is an additional set of special rates/services offered, these accounts are available as variants of savings, current and deposit accounts. These services are usually provided on the basis of the strength of the average balance maintained with the bank. Usually, the average balance required to be maintained is much higher that a normal account.

Premier Accounts eligibility

Each type of account and bank will have its own eligibility criteria which needs to be checked individually. Some common eligibility criteria are:

Age : Usually, any financial transaction requires the applicant to be at least 18 years of age.

Nationality : Most of the accounts offered by banks are available for UAE residents and non UAE residents alike.

Type of entity : Depending on the type of account and bank you apply to, certain entities are permitted to open accounts in UAE. Some commonly accepted entities are:

  • Non-governmental organizations (NGO)
  • Public corporations
  • Registered societies/associations/clubs, trusts
  • Government/semi-government bodies/departments
  • Private and public limited companies
  • Resident Individual
  • Partnership
  • Sole trader businesses
  • Hindu undivided family

Documents required for Premier Accounts in UAE

As is the case with eligibility, every bank may have its own requirement of documents to process your account application. Apart from the application form, some basic documents needed are:

  • Original passport for verification along with a copy
  • Copy of the visa
  • Proof of address
  • ID proof

It is important to note that with mobile-banking, SMS-banking and internet-banking, convenience should no longer be the reason for opening a Premier account. Research well and try to find a premier banking solution that best suits your needs.