A Know How Guide to Open a Zero Balance Saving Account in UAE

09Nov, 21

A Know How Guide to Open a Zero Balance Saving Account in UAE

A savings account can be opened at any bank in the globe and is among the most popular types of accounts that people open for personal use. The goal of a savings account is to encourage account holders to deposit and save money, as the name implies. For the purpose of retaining users' interest in the activity, a number of incentives are provided on money deposited, such as providing interest on saves. A minimum level of a particular amount must be kept in each basic savings account at all times, nevertheless. It starts at AED 2500 in the UAE and may increase or decrease depending on the banks. Although many institutions now provide the option of a zero balance savings account.

Thus in today’s Blog, Dhanguard will extensively discuss the Zero Balance Account in the UAE. So without any further ado, let’s learn!

Along with a wide array of services provided, Dhanguard also helps with MainlandOffshore and  Business Account opening as well.

Zero Balance Account in UAE: What are they?

Without a doubt, a zero balance savings account is the kind of savings account that doesn't demand that you keep a minimum balance in it at all times. 

  • Naturally, unlike a regular savings account, there are no penalties applied to this account if your balance occurs to drop to zero. 

  • In other words, you don't have to worry about incurring fees or anything like that if you decide to empty the account in the event of an emergency. 

  • The fundamental distinction between a regular savings account and a zero balance savings account is that the latter does not require minimum balance maintenance, but there are a few further differences.

Read More: Why Dubai can be Your Best Option for Making Investments? Read Now!

Best Zero Balance Accounts in UAE

Nearly all of the main banks in the UAE are now offering their clients zero balance accounts. Each of them has its own set of guidelines, advantages, requirements, and rules. For you, we have compiled a list of the top zero balance savings bank accounts in the UAE. 

They are mentioned below-

Commercial Bank of Dubai E-saver Account

This is one of the zero balance savings accounts that, in addition to a number of other advantages, offers some of the best rates of interest on the funds deposited. Here is a detailed look at the advantages and prerequisites for opening an ESaver Account at the Commercial Bank of Dubai.

  • It is not necessary to maintain a minimum balance, and no maintenance fees are due.

  • On the average monthly balance of an ESaver account, the bank offers up to 1.5% in profit rate or interest.

  • Account holders are permitted to withdraw money from their account three times per month for things like paying bills and other expenses.

  • The account can be started without any difficulty through the bank's online resources, and it can be managed in the same way.

Documents Required-

  • The Passport of the applicant and it’s photocopy

  • The Emirates ID of the Applicant

  • trade license for self employed individuals and a salary certificate for salaried employees.

  • The utility bills as proof of the applicant’s address

  • A copy of the visa attesting to the applicant's residency in the United Arab Emirates

What is the Eligibility Criteria?

Everyone who is a national or resident of the UAE is entitled to create a bank account with no minimum balance requirement. A minimum age of 18 is required for applicants. For applicants, a minimum income of AED 5000 is also necessary. To open an ESaver account with the bank, the applicant must already already be a CBD customer.

ADCB Active Saver Account

The Active Saver Account from ADCB can be a fantastic option for UAE Nationals and Residents if they plan to open multiple independent saving funds, each of which will be used to achieve a different set of goals. It comes with some fairly enticing bonuses and offers. The top characteristics of this ADCB zero balance account are as follows:

  • ADCB Active Accounts may be opened in the bank by one applicant up to a total of five times.

  • No minimum balance requirement must be kept in the account, either.

  • This account offers various interest rates on deposits made in various currencies, with rates provided on AED deposits being up to 0.75% annually.

  • The interest is based on the account's daily closing balance and is paid to users every month. Account holders have the option of setting the account's currency to AED, USD, or GBP.

  • Checkbooks or an ATM/debit card are not offered for this specific account.

  • To get started, the account needs a balance of AED 1000.

Documents Required-

  • The Emirates ID of the Applicant

  • A valid Visa Page from the applicant’s a current visa that acts as a proof of residency

  • The passport of the Applicant

  • Other relevant documents as per the discretion of the Bank

What is the Eligibility Criteria?

If a person already has a current or savings account with the bank, they are eligible to open an ADCB Active Saver Account. This applies to all UAE citizens and residents. At least 21 years of age is required for applications. The account can be opened by adults over 21 who are still in school or are not employed as there is no requirement for a minimum salary for working professionals. Despite this, minors cannot open this account.

ADBI Smart Banking Account

One of the most well liked and effective zero balance savings accounts offered in the UAE is this one. In addition to providing a vast array of advantages and services, the bank's application even appears to change themes in accordance with your personalized bank debit card, which is more than enough to keep account holders interested in their accounts and the bank itself. Let's look at some of the key attributes of the ADBI Smart Banking Account:

  • With little to no difficulty, the account can be opened online.

  • The monthly interest rate changes for the ADBI Smart Banking Account, however it always stays at a minimum of 0.4%.

  • Since this is a zero balance account, there are no fees or penalties that the account holder may be subjected to for failing to keep the balance in the account at all times.

  • This account's debit card can be customized to the account holder's preferences and delivered to their home whenever they'd like. Based on the account holder's debit card, the bank's smart banking app adapts to their unique needs.

  • Account holders are given attractive discounts and offers on a variety of items, including food, entertainment, and retail.

  • Each month, the user is also entitled to one free domestic and international financial transfer through the account.

  • Only personal and non-commercial usage of the account is permitted.

  • Additionally, you can recommend friends and receive a payment of AED 20.

Documents Required-

  • The Emirates ID of the applicant along with its Photocopy

  • A Photocopy of the applicant’s residence visa, student identification card, or any other form of identification that the bank may require

  • The Passport of the applicant along with its Photocopy

What is the Eligibility Criteria?

This zero balance savings account can be opened in the name of any resident of the UAE who is older than 18 years old. An annual salary of at least AED 5000 is the minimum salary requirement for the account. Student IDs and visa status are required for non earning staff, including housewives and students. The non income based category is only open to students having a student ID who are 24 years of age or younger.


These are only a few of many great Banks which offer the facility of Zero Balance Accounts. Zero Balance Accounts can act as a great tool if you want to save yourself from the hassle of regularly maintaining a minimum balance in your bank account. Get in touch with our experts to get unmatched assistance in opening your zero balance account in the UAE. Thus we hope this blog provided you with insightful information. For more information on other related aspects, feel free to check out our website as well or visit our Head Office in Dubai.