Zero Balance Accounts in UAE
Things to check before getting a zero balance account
- Account with zero maintenance charge
- No initial deposit requirement
- No monthly transactions requirement
- No/Low minimum salary criterion
- New-to-bank customers are allowed to open an account
Even though cash is considered as king, idle cash in the wallet is not recommended when there are several banks providing some interest rate on the cash. But this little profit comes with charges when you don’t maintain a minimum balance in the account. Banks charges some fees on non-maintenance of the minimum balance in the account. Not all the banks charge fees, there are few banks that provide Zero Balance accounts in UAE.
Comparing Zero Balance Accounts
ADIB Smart Account 
CBD E-Saver Account
Emirates NBD Liv Account
HSBC eSaver Account
ADCB Active Saver Account
RAKBank Fast Saver Account
FAB iSave Account
No Maintenance Charges
Minimum Salary Required 
Key Features of Zero Balance Accounts in UAE
ADIB Smart Banking Account
Key Features
- Instant online account opening facility
- Free debit card is provided
- 0 charges on non-maintenance of minimum balance in the account
- No charges on withdrawing cash from ADIB ATMs in UAE
- Earn profit on every AED present in the account
- Even non-income based individuals (housewives) are eligible
- Can get discounts on dining, shopping, etc
- Can avail one free transfer per month
To be aware of
- Applicant must be 18-24 yrs student or should have a minimum salary of AED 5000
CBD Esaver Account
Key Features
- No charges on not maintaining a minimum balance in the account
- No minimum balance requirement
- Can get up to 1.5% profit rate
- Can open the account instantly through CBD online banking account
- Can get a maximum of three debits every month
To be aware of
- Should be an existing CBD customer
- Minimum salary of AED 5000 is required
- More than 3 debits (pm) will lose interest rate
Emirates NBD Liv Account
Key Features
- Instant account opening using Liv app
- Profit rate 2% is provided
- Debit card is provided for free
- Get high discounts on dining, entertainment & leisure
- Manage account easily using Liv app
- No account maintenance charges
To be aware of
- Monthly average balance should be minimum AED 2500 (or) should transfer salary of AED 4000 (or) minimum AED 1000(p.m) should be spent on the account
HSBC Esaver Account
Key Features
- Can avail online banking facility
- No account maintenance charges
- Profit rate of 1.5% is provided
To be aware of
- Balance in the account should not be zero for 3 consecutive months
- Minimum salary of AED 7500 is required
ADCB Active Saver Account
Key Features
- Can maintain zero balance in the account
- Earn up to 2% profit on the balance maintained in the account
- One person can open up to 5 accounts
To be aware of
- Must be an existing ADCB customer
- An initial deposit of AED 1000 is required
RAK Bank Fast Saver Account
Key Features
- No account maintenance charges
- Per month 5 Utility payments or 1 withdrawal is allowed
- Profit rate of 1.75%(per annum) is provided
To be aware of
- Cannot open an account online
- Must be an existing RAKBank customer
FAB iSave Account
Key Features
- The profit rate of 3%(per annum) is provided
- No charges to open the account
- No monthly maintenance fees
- No limitations to withdraw money from the account
To be aware of
- Only existing FAB account holders can avail instant account opening
- No debit card is provided
Frequently Asked Questions
Q: Are there any additional charges levied on opening the account online?
A: You can open a zero balance account online on no charges involved.
Q: What is the minimum initial amount to be deposited?
A: The minimum initial deposit varies with each bank which starts from AED 1 and there are banks with no requirement of initial deposit.
Q: What is the processing fee for 0 balance account opening in UAE?
A: There are no processing fees to open a 0 balance account in UAE.
Q: Are there any charges on account closure?
A: Yes, banks charge some fees if you are closing your account within one year of activation.
Q: Do I get notified on my transactions?
A: Yes, you can get SMS alerts on each and every transaction made.
Q: Are there any charges levied on ATM withdrawals?
A: There are no charges if you withdraw from the same bank ATM.
Q: Are interest rates provided at all the banks?
A: No, few banks in UAE doesn’t provide interest on the zero balance accounts.
Q: Can I avail zero balance account services on international purchases?
A: Yes, you can get make international purchases using your money in the zero balance account.
Q: What are the charges to get a statement of account?
A: The charges on the statement of account starts from AED 25 which varies with each bank. Few banks provide the statement of account for free.
Q: Are Non-Residents eligible to open a zero balance account?
A: No, only UAE Residents with a valid Emirates ID are eligible to get a zero balance account in UAE.
Q: Are minors eligible to get a zero balance account?
A:No, the account holder must be 18 years old to apply for a zero balance account.
Q: On what basis the interest rates are calculated?
A: The interest rates are calculated on the balance maintained in the account.
Q: Can I use the free debit card provided, outside UAE?
A: Yes, debit card can be used outside UAE but foreign transaction fees are added.