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How to find a Best Zero Balance Account

How to find a Best Zero Balance Account | Dhanguard

The savings account in any bank across the world is one of the most prevalent types of accounts opened by the general public as a personal account. The goal of a savings account, as its name suggests, is to encourage account holders to deposit and save money. To keep customers interested in the activity, other perks are offered on deposited money, such as providing interest on their savings. However, all basic savings accounts require customers to keep a specific minimum sum on hand at all times. This minimum amount in the UAE starts at AED 2500 and can go up or down depending on the banks. A zero-balance savings account, on the other hand, is an option that many institutions now provide. With the help of this blog Dhanguard will give you best information related to Zero Balance Account.

What is a Savings Account with No Balance?

A zero-balance savings account, as the name implies, is one that does not require you to keep a minimum amount on your account at all times. In contrast to a traditional savings account, there are no penalties if your balance falls to zero on this account. This implies you can empty the account if an emergency arises without fear of incurring charges or other consequences. While the main difference between a standard and a zero-balance savings account is the absence of minimum balance maintenance, there are a few other differences to consider when comparing the two.

Savings account vs. Zero Balance Savings Account

A zero-balance account differs on only a few basic pointers from a normal account when it comes to the heart of it. The first and most noticeable distinction is that you are not required to maintain a minimum or average monthly balance. The number of transactions is a possible second difference. While the number of transactions you can do from a savings account is limited, it is considerably more limited in case of zero balance accounts. In addition, if account customers exceed the transaction limit, banks may apply penalties.

Top UAE Zero Balance Accounts

Almost all of the UAE's main banks now offer zero-balance accounts to its customers. Each one comes with its own set of instructions, benefits, terms, and conditions. For you, we've compiled a list of all the finest savings bank accounts with no minimum balance available in the UAE. Take a look at this:

Account with ADBI Smart Banking

This is one of the most popular and greatest zero balance savings accounts in the United Arab Emirates. In addition to providing a wide selection of advantages and services, the bank's application appears to change themes based on your customized bank debit card - enough to keep account holders hooked on the account and the bank.

Let's have a look at some of the key features of ADBI's Smart Banking Account:

  • The account can be opened quickly and conveniently online with little to no trouble.
  • The interest rate on the ADBI Smart Banking Account changes every month, but it always stays at a minimum of 0.4 percent.
  • Because this is a zero-balance account, there are no charges or penalties for the account holder if the amount in the account is not maintained on a regular basis.
  • This account's debit card can be customized to the account holder's liking and delivered to their home whenever they like. The bank's smart banking app was customized based on the account holder's debit card.


This zero balance savings account can be opened in the name of any UAE resident over the age of eighteen. AED 5000 should be the minimum compensation for earning workers. Non-earning employees, such as students and housewives, must have valid identification and visa status. Only students who are 24 years old or younger (and have a student ID) are eligible for the non-income-based category.

Documents Required

  • The candidates' original passports, as well as a copy of their Emirates ID, must be shown (original copy)
  • A copy of the resident's visa, student ID, or any other form of identification that the bank may request.

Dubai Commercial Bank ESaver Account

This is a zero-balance savings account that pays some of the best interest rates on deposited funds, as well as a slew of other perks.

Let's take a closer look at the advantages and requirements for opening an ESaver Account with the Commercial Bank of Dubai

  • A minimum amount is not required to be maintained and there are no maintenance charges liable either.
  • On the monthly average balance of an ESaver account, the bank gives up to 1.5 percent profit rate or interest rate.
  • Every month, account holders are allowed to make three transactions from the account, including fund transfers, bill payments, and so on.
  • The account can be readily opened using the bank's internet channels and operated in the same way.

Criteria for Eligibility

All UAE nationals and residents are entitled to open a bank account that has no minimum balance. The applicants must be at least 18 years old. The applicants must also earn at least AED 5000 in order to be considered. To open an ESaver account with the bank, the applicant must also be a current CBD customer.

Document Required

  • The applicants' passports, as well as a copy
  • A copy of the applicant's visa verifying his or her residency in the UAE.
  • You’re Emirates ID, as well as a salary certificate for salaried employees and a trade license for self-employed individuals.
  • Utility bills as proof of the applicants' addresses

ADCB Active Saver Account

The Active Save Account from ADCB can be a fantastic alternative for UAE Nationals and Residents if they plan to open numerous independent saving funds, each for a different set of aims, thanks to its intriguing features and offers. The following are the key features of ADCB's zero balance account:

  • A single applicant is allowed to open up to five ADCB Active Accounts in the bank.
  • There is also no necessity to keep a certain amount of money in the account.
  • The rates granted on AED deposits – up to 0.75 percent per annum – are different from those provided on deposits made in other currencies.
  • The interest is calculated on the account's daily closing balance and paid to the users on a monthly basis. Account holders can choose between AED, USD, and GBP as their account currency.


Anyone who is a UAE national or resident can open an ADCB Active Saver Account granted that they have an existing saving or current account with the bank. Applicants must be at least 21 years old to be considered. Working professionals do not require a minimum wage to open an account, therefore adults over 21 who are still studying or unemployed can do so as well.

RAK Bank Fast Saver Online Account

For this account, the bank offers two currency options: AED and USD. Interest rates for both these currencies differ for the account holders. When opening a Fast Saver Account with RAKBank, all applicants are able to choose their currencies without any additional requirements or conditions. This zero-balance savings account has the following features:

  • AED Fast Saver accounts earn up to 0.5 percent interest per year, while USD accounts earn up to 0.25 percent interest per year.
  • The bank does not set a limit on the amount of money that can be deposited in interest-bearing AED accounts. Simply put, the more you deposit, the more you make.
  • However, there is a maximum amount that can be deposited in a USD account.


These are a few 0 balance accounts in the UAE where you may open an account and obtain the best interest rates in the UAE if there is a balance, otherwise keep the account with no balance and no fees. These UAE bank accounts with no minimum balance also come with attractive deals and bonuses. Connect with Dhanguard for more details if you ever have any query related to Zero Balance Account.


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Frequently Asked Questions

You should go for a FDs over mutual funds and investments options similar to it, because of the guarantee of return on investment and safety of your funds. Since they are opened with a bank, they provide safety to your investments.

Usually the interest rates varies from 6-8%.

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