{"id":3399,"date":"2018-07-23T07:30:04","date_gmt":"2018-07-23T07:30:04","guid":{"rendered":"http:\/\/139.59.38.172:8081\/?p=3399"},"modified":"2021-07-19T11:47:28","modified_gmt":"2021-07-19T11:47:28","slug":"opening-an-account-in-nbad","status":"publish","type":"post","link":"https:\/\/www.mymoneysouq.com\/financial-blog\/opening-an-account-in-nbad\/","title":{"rendered":"Opening an Account in FAB (formerly NBAD)"},"content":{"rendered":"\n<p><span style=\"font-weight: 400;\">Opening an account in FAB(which was previously known as NBAD), is quite simple if the right details and valid documents are provided. Before applying for a particular account, the first step is to check the type of accounts available and the benefits provided on it.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">How to open an account in FAB?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">In FAB, one can open an account by visiting the branch, online or on phone.<\/span><\/p>\n\n\n\n<p><b>Visit the branch:<\/b><span style=\"font-weight: 400;\">&nbsp;The applicant can visit the branch and submit the required documents along with the application form provided by the bank.<\/span><\/p>\n\n\n\n<p><b>Apply Online:<\/b><span style=\"font-weight: 400;\">&nbsp;People who want to apply online can fill the application form provided on&nbsp;<a href=\"https:\/\/www.bankfab.com\/en-ae\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">FAB<\/a> website.<\/span><span style=\"font-weight: 400;\">&nbsp;Online applicants need to scan the required documents and submit them online.&nbsp;<\/span><\/p>\n\n\n\n<p><b>Apply on Phone:<\/b><span style=\"font-weight: 400;\">\u00a0The applicants can request an account opening by dialling to <\/span>600525500<span style=\"font-weight: 400;\">. The respective executives will visit the applicant at their desired location to get the procedure done.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">In FAB, the account opening process is hassle free if the documents submitted are valid.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Once the applicant meets the eligibility criteria and all the documents are verified, it would take 3-7 working days to process an application. &nbsp;&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">Account types<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Before applying for an account it is important to choose between a savings account and current account. FAB provides different kinds of saving and current accounts in UAE.<\/span><\/p>\n\n\n\n<p><strong>Savings Accounts<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Elite Savings Account<\/span><\/li><li><span style=\"font-weight: 400;\">Personal Savings Account<\/span><\/li><\/ul>\n\n\n\n<p><strong>Other FAB Accounts<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Etihad Guest Elite Account<\/span><\/li><li><span style=\"font-weight: 400;\">Etihad Guest Account<\/span><\/li><li>FAB Accelerator<\/li><li><span style=\"font-weight: 400;\">Elite Current Account<\/span><\/li><li><span style=\"font-weight: 400;\">FAB One Account<\/span><\/li><li><span style=\"font-weight: 400;\">Personal Current Account<\/span><\/li><li><span style=\"font-weight: 400;\">Personal Call Account<\/span><\/li><\/ul>\n\n\n\n<p><strong>Check: <a href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/how-to-choose-the-right-bank-account\/\" target=\"blanck\">How to choose a right bank account<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">Benefits on the FAB accounts<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Each account provides exclusive benefits for the account holders. Look for the account that can be beneficial for you.<\/span><\/p>\n\n\n\n<p><strong>Benefits provided on FAB accounts are<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">A free debit card is provided<\/span><\/li><li><span style=\"font-weight: 400;\">Can get free access to selected airport lounges<\/span><\/li><li><span style=\"font-weight: 400;\">Free monthly international remittances<\/span><\/li><li><span style=\"font-weight: 400;\">Earn Etihad guest miles on the monthly average balance in Etihad accounts<\/span><\/li><li><span style=\"font-weight: 400;\">Free teller transactions are provided on a monthly basis<\/span><\/li><li><span style=\"font-weight: 400;\">Can get a free cheque book<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can earn profits on the balance maintained<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">Eligibility criteria<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Once you are satisfied with the benefits provided on the account, check the eligibility criteria. Eligibility criteria to open an account in FAB is &nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">For some accounts, the account holder must maintain a Total Relationship balance of AED 500,000<\/span><\/li><li><span style=\"font-weight: 400;\">Even Non-Residents are eligible<\/span><\/li><li><span style=\"font-weight: 400;\">Initial deposit is required<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Even non-salaried individuals are eligible for savings accounts<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">Documents required<\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Proof of income(for a salaried and self-employed individual)<\/span><\/li><li><span style=\"font-weight: 400;\">Valid Passport<\/span><\/li><li><span style=\"font-weight: 400;\">Emirates ID(for UAE residents)<\/span><\/li><li><span style=\"font-weight: 400;\">Valid Residence Visa(for UAE Residents)<\/span><\/li><li>Visit visa(for non-residents)<\/li><\/ul>\n\n\n\n<p>Apart from these, banks may request additional documents depending on the applicant&#8217;s profile.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">Things to be noted:<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">There are few things to be verified at the bank before submitting an application form<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Minimum Initial deposit: Few accounts have an initial deposit requirement. &nbsp;<\/span><\/li><li><span style=\"font-weight: 400;\">Minimum Balance: A minimum balance should be maintained in some accounts, else the account holder will be charged non-maintenance fees.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Interest rates: Not all the accounts provide profits. It is important to check the interest rate provided on the account balance. &nbsp;&nbsp;<\/span><\/li><\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Having a personal bank account is important to everyone. People tend to spend less money if it is in the account rather than their pockets. Pick an account according to your requirements and maintain it rightly.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Opening an account in FAB(which was previously known as NBAD), is quite simple if the right details and valid documents are provided. Before applying for a particular account, the first step is to check the type of accounts available and the benefits provided on it.&nbsp; How to open an account in FAB? In FAB, one [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":6925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[],"class_list":{"0":"post-3399","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-general"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Opening an Account in FAB (formerly NBAD) - MyMoneySouq Financial Blog<\/title>\n<meta name=\"description\" content=\"Before applying for a particular account, the first step is to check the type of accounts available and the benefits provided. 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