Busy Finance Banks in UAE have become quite popular as they are easy to use and there is no need to maintain any monthly balance in these accounts. This smart way to manage your money makes banking easy and user-friendly, especially if you are new to managing Emirates accounts and looking for an easy banking experience.
What is a zero-balance account?
A zero balance account is an account that does not require any initial deposit while opening it. These accounts do not require maintaining a monthly balance, it’s free to use. These accounts is useful for people with low salaries. Many people in the UAE prefer to open zero-balance accounts because they are easy to use, and have low documentation.
Benefits and features of zero balance accounts in the UAE:
- Easy setup: Opening a zero balance account is much easier. You can open an account by visiting the bank’s official website or through the app.
- No minimum balance needed: It is not necessary to keep a certain amount in your bank accounts so whenever you need money you can withdraw from it without any penalty.
- Online banking: These accounts usually offer free online banking in addition to which you can get free transactions every month.
- Cashback facilities: These accounts provide different types of cashback facilities. You can also take advantage of cashback in returns from various platforms for shopping online.
- Easy Transaction: You can easily do various transactions with your Zero-balance accounts, for example, you can pay for electricity, internet, mobile recharge, and much more using the balance in your zero-balance account.
Which bank is suitable for zero balance in the UAE
Zero-balance Accounts are very useful you don’t need to maintain a monthly balance. There are various types of banks in the UAE that provide zero-balance account facilities. We have compiled a list of the best banks, which you can easily apply online.
Top zero balance account in Dubai and UAE.
Following are some of the best banks offering zero-balance savings accounts in 2024
| Account name | Monthly salary |
| Fab isave account | No salary requirements |
| Mashreq noon saving accounts | AED 5000 |
| Emirates liv primary account | AED5000 |
| ADIB smart banking account | AED 5000 |
| Mbank account | No salary requirements |
| HSBC Flexi account | No salary requirements |
| CBD E saver account | AED 5000 |
| Emirates e-savings account | AED 5000 |
FAB i save account
- instant account opening online or through the app.
- There are no minimum balance requirements.
- Unlimited withdrawals.
- available for only individual customers.
- Get your credit card after the account is opened.
- Pay your utilities and any other bills by using FAB rewards.
Eligibility criteria
- Need your Emirates ID
- valid resident visa
How to open a zero-balance account online? apply now
- Select zero balance account and follow the below steps
- open the official website of the bank and select option zero balance account.
- To open this type of account go application form and fill it out correctly.
- upload your scanned copies of KYC and other required documents.
- Review the application form to ensure that any errors are corrected.
Mashreq noon savings account
Features & benefits
- Easy account setup.
- No minimum balance is required.
- Avail 2 % cashback on purchases.
- Interest rate up to 50 %.
- Get a free noon VIP membership.
- Get 2 % cashback debit transactions on noon grocery.
- Free transfer up to 40 destinations and 1 international per month.
Eligibility criteria
- Minimum salary AED 5000.
- Minimum age 18 years or above.
- UAE residence holders & visitors on a visit or transit visa.
- Valid Emirates ID.
- If you are a non-resident) need the last 2 months’ bank statements from your country.
How to open an online Mashreq noon savings account? apply now
- visit the official website of Mashreq Bank or download the Mashreq app.
- click the apply now option and select the option as a new customer.
- Fill the application with 7 to 8 steps including personal details, and employment details.
- In the final steps upload your KYC documents.
Emirates Liv primary account
Features & benefits
- Cheque book for salary persons.
- Get a free debit card.
- Split the bill easily with your friends.
- Quick and easy remittance.
- Manage your account online for bill payments and other services.
Eligibility criteria
- Minimum age 18 years.
- Emirates id
How to open an online live primary account? apply now
- click apply now and visit liv website
- you will see the app download option.
- after downloading Liv app start the online application.
- fill in all your personal details and upload KYC documents.
ADIB smart banking account
Features & benefits
- No mimumum balance for smart account
- Cheque book available depends on the eligibility.
- Get free 1 transfer on the domestic and 1 on the international level.
- Online Mobile banking is available.
- Earn a bonus on your salary transfer.
- Use free ADIB ATMs for cash withdrawals and deposits.
Eligibility criteria
- Minimum salary for this account is AED 5000.
- Self-employed for this account AED 5000.
- If you are a housewife/Dependents shall have resident visa status confirming dependency (No Income Required.
- Students (age above 18 years) shall have residency visa status to confirm dependency (No Income Required.
- UAE National (Minimum age 18 years)
- Other dependents with a valid visa.
Charges
- Ist debit card free
- Replacement card fee AED 25.
- Cash Withdrawal, Balance Inquiry, Decline for insufficient funds using non-ADIB ATMs
- AED 2 (per transaction) ii) AED 1 (per transaction) iii) AED 1 (per transaction)
Mbank account
Features & benefits
- No Minimum monthly balance is required.
- No Minimum salary is required.
- Free ATM card.
- Send money online anywhere in uae.
- Very little documentation.
- You can log in through UAE Pass.
- Cheque book is available as well.
- Get free e-statements
- Pay your utility bill.
Eligibility criteria
- Only emirates id
- Minimum age 18 years
How to open Al Maryah Community Bank online? apply now
- You can simply log in if you have a UAE pass account
- If not simply download the Mbank app from Play Store.
- verify your mobile no and put some personal details.
- After creating an account request for the ATM card.
HSBC Flexi account
Features & benefits
- Very easy setup.
- No Minimum balance is required for Flexi account.
- No need to transfer your salary.
- An international visa debit card is available.
- Once you open the account use it instantly.
Eligibility criteria
- Minimum age 18 year for this account.
- Must be a UAE resident and have a valid visa.
- Need physical Emirates ID.
- Passport.
- Proof of income, salary certificate.
- Last 3-month bank statement.
- Residence address such as utility bill etc.
How to open online? apply now
- Click apply now and visit the bank official website.
- Download the HSBC app.
- Start the online application and fill out all your personal details.
CBD e-saver account
Features & benefits
- Open your account instantly with less documentation.
- Competitve interest rate.
- Check your balance online and get a free e-statement.
- No Minimum balance is required.
- Transfers, payments, etc.) from Esaver account 3 debits per month.
Eligibility criteria
- Minimum age limit is 18 year
- UAE national or resident
How to apply online CBD e-saver account?
- It’s very easy! If you are a CBD customer ,visit CBD Online Banking and apply online.
- If you are not a CBD customer, need a passport, residence visa, and Emirates ID ready and apply here
Emirates e-saving account
Features & benefits
- Earn up to 1.5 % profits p.a.
- Unlimited online transfer.
- No Minimum balance is required.
- Online banking app available.
- No limit on number of withdrawals.
Eligibility criteria
- For existing customers.
- Minimum age limit 18 years.
How to open e savings account online?
- Log in to mobile banking.
- Choose a new customer option.
- Select the e-saving product type
- Read all terms and conditions and submit a request.
What is the closing procedure for a zero-balance account?
If you want to close your zero balance account, you need to visit the branch. You cannot close it online. Below are some steps to follow to close a zero-balance account.
Step 1 : Visit the nearest branch of the bank where you using your account.
Step 2: Request for account enclosure process.
Step 3: Fill out your personal details in the closure form.
Step 4 : Mention the reason why you closing your account.
step 5 : Submit your checkbook, passbook, debit card and your ID proofs.
Step 6:In the final step pay any closure charges applicable and close your account.
FAQs