To open a savings account in UAE, you need to meet a few requirements like minimum salary and minimum balance maintenance. Few banks even charge high fees on non-maintenance of a minimum balance. However, banks in the UAE started providing accounts with no requirement of maintaining a minimum balance. This kind of accounts are dubbed as a Zero balance account.
| Account Name | Interest Rate(p.a.) | Minimum Salary |
|---|---|---|
| ADIB Smart Banking Account | Profit on every dirham in the account | Both income and non-income based eligible |
| Commercial bank of Dubai(CBD) ESaver Account | 1.25% | AED 5000 |
| FAB iSave Account | 2% | NA |
| RAK Bank Fast Saver Online Account | 0.50% | NA |
| HSBC Esaver Account | 0.10% | NA |
| HSBC Flexi Account | 0.02% | NA |
| Emirates NBD Liv. Account | 1.5% | NA |
| Mashreq Neo Savings Account | 0.15% | AED 5,000 |
| Mashreq Easy Saver Account | 2.4% | AED 5,000 |
| Shaatir Savings Account | Higher Expected profits. Historic Shaatir Profit rates | NA |
Here’s a list of various banks and features of the zero balance facility:
ADIB Smart Banking Account
- One of the best zero balance account in UAE
- Can open an account online, instantly
- Can get a personalized debit card
- No charges on non-maintenance of the account balance
- Get profit on every dirham available in the account
- No charges on ATM withdrawals at ADIB, UAE
- Can access the account using the smart banking mobile app
- Applicant must be 18 – 24 yrs student or should have a minimum salary of AED 5000
- Even non-income based individuals like housewives(with housewife visa status) are eligible
- Provides high discounts and offers on dining, entertainment, shopping, etc.
- Get can reward on referring friends
- One free transfer per month to other banks anywhere in the world
- Send money home for free
- Enjoy over 1500 deals and discounts through the smartdeals app
Commercial bank of Dubai(CBD) ESaver Account
- Need not maintain minimum balance in the account
- Zero maintenance charge
- Earn up to 1.25% on your monthly average balances.
- Three debits per month (transfers, payments, etc) from Esaver account
- It provides CBD Online Banking for customers
- Minimum salary requirement AED 5000
- UAE Nationals and Expats are eligible
Read More about CBD Esaver Account
FAB iSave Account
- One of the Zero balance savings account in UAE
- Can get up to 2%(pa) interest rate on the balance maintained in the account from February 1, 2022 to April 30, 2022
- No account opening charges
- No monthly fees
- No withdrawal limitations
Read more about FAB iSave Account
RAK Bank Fast Saver Online Account
- No minimum balance requirement on the account
- No charges for maintaining an account
- 5 utility payments or 1 cash withdrawal is allowed per month
- A maximum interest rate of 0.50%(pa) is provided
- AED & USD currencies are allowed
- No cap on maximum account balance on which interest can be earned for AED Fast Saver Account
- Utility payments to be performed through Digital banking
Read more about RAKBank Fast Saver Account
HSBC Esaver Account
- Zero balance account for UAE residents
- Can manage your money online
- No maintenance charges
- Interest rate of up to 0.10% is provided on the account balance
- Can withdraw money easily from the account
- No minimum balance requirement
- Transfer funds within the UAE and abroad in multiple currencies.
Read more about HSBC Esaver Account
HSBC Flexi Account
- No Minimum Balance requirement or Salary transfer
- Fund, transact and use your account instantly
- Get International Visa Debit Card
- Get 10% bonus cashback 365 days when you meet minimum requirements
- 12 complimentary visits per year to 1000+ airport lounges across the world
- Enjoy 1000’s of offers and get access to top lifestyle and entertainment venues with HSBC entertainer app
- Turn everyday spending into cashback, plus enjoy credit portability from your home country and a range of travel and lifestyle rewards.
Read more about HSBC Flexi Account
Emirates NBD Liv. Account
- Emirates NBD Liv account is now a Liv account and you can open a bank account quickly using Liv. app
- Provides up to 1.5%(pa) interest rate according to the account balance
- Provides an international debit card
- Can get up to 50% off on dining, entertainment and leisure
- Can manage your account and transactions using the Liv. app
- No maintenance charges involved
- Get up to 3% increment on salaries every month
- Fixed Deposits with 4% interest upfront
- Send Money home with instant & free of cost Direct remit
- Score up to 15% cashback on spends
Read more about Emirates NBD Liv Account
DIB Shaatir Savings Account
- Introduce your children to savings with Shaatir Savings account
- Provides with a personalized card
- No Minimum Balance is required
- No maintenance fee is required
- The profit on the Shaatir Savings Account is paid based on the profit announced on a quarterly basis.
- If the minimum balance during the month goes below AED 1,000/-, no profit is calculated for the month
- Profits are provided based on the average balance in the account.
Read more about Shaatir Savings Account
Mashreq Neo Savings Account
- Discover the perfect savings account provided by Mashreq
- Get free Platinum Debit Card
- Zero paper work with all the processing through online
- Open Mashreq Neo Savings account in 2 minutes
- Interest rate of 0.15% per annum which is credited to your account every 6 months
- Enjoy Joining bonus of AED 2,500 when you open Neo savings account
- Get Early bird cashback, make transactions in the first 90 days & enjoy up to AED 350 cashback.
- Get access to your funds with ease in over 200 countries and through 1.8 million ATMs
- Minimum monthly income is AED 5,000 and you just require valid Emirates ID and must be 18 years of age & above
Mashreq Easy Saver Account
- Earn attractive interest rates with easy saver account in a flexible way
- No minimum balance requirement and zero monthly fees
- Get auto and easy savings account with standing instructions
- Get high interest rates up to 2.4% per annum
- Open Mashreq Neo Savings account in 2 minutes
- There is no minimum balance requirement or monthly fees
- Just sign in Mashreq mobile app or online banking for easy saver account
- Free online money transfers and easy to use savings account.
- Easy saver is available in Dollars or Dirhams
- Minimum monthly income is AED 5,000 and you just need to have a current account or savings account with Mashreq and must be 18 years of age & above
Read more about Mashreq Easy Saver Account
Now, see a detailed comparison of all the Zero Balance Accounts in UAE here
These are the few 0 balance accounts in UAE where you can open an account and get best interest rates in UAE if any balance is present else maintain the account with zero balance and zero fees. These UAE bank accounts without minimum balance are also being provided with good offers and rewards. Disclaimer: Mymoneysouq holds no responsibility for any changes in the figures.