ADCB Hayyak Zero Balance Account

When you wish to open a savings account with a bank without being bound by the minimum balance requirement, you can opt for a zero balance account. Unlike standard bank accounts, customers are not required to maintain a minimum average balance with this zero balance saving account. 

Several banks offer the option to open a Zero Balance Savings Account, with the Abu Dhabi Commercial Bank being among the most prominent institutions for the same in the UAE. One such option from the bank is the ADCB Hayyak zero balance account, which offers similar features as a regular savings account along with several additional ones.

Keep reading below to discover all the key details related to this zero balance account from the ADCB.

What are the Benefits of ADCB Hayyak Zero Balance Account?

With this account, which can be opened only online, you can conveniently fulfil your financial goals owing to the benefits offered by this account as follows:

1. Increased Savings

The ADCB Hayyak Zero Balance Account offers some of the highest profit rates across all the accounts in the UAE. With such excellent rates, it is quite easy to earn considerable interest on your savings over time with ADCB Hayyak Zero Balance Account.

1. No Minimum Balance Required

Saving money with the ADCB Hayyak Zero Balance account is fairly straightforward as you won’t be required to maintain a minimum balance with this account. As you will not be charged any penalty even if your account balance is zero, you can avoid losing a chunk of your savings in penalties and save even more.

1. Online Accessibility

This savings account from the Abu Dhabi Commercial Bank can be easily opened and accessed through ADCB Personal Internet Banking, making it accessible from anywhere with internet access.

1. Set up Multiple Accounts

With ADCB, you can open this type of zero balance accounts up to five times. Essentially, this means that you can set up five different Active Saver Accounts/ Zero Balance Account for five different goals and maximise your savings.

Eligibility Criteria for ADCB Hayyak Zero Balance Account

To open a Zero Balance account in ADCB Hayyak, the following criteria must be met:

1. The customer must be at least 21 years old and reside within the UAE
2. The ADCB Hayyak Zero Balance Account may only be opened by the Customer and not by a third party
3. To open the ADCB Hayyak Zero Balance Account, you must first deposit a minimum amount as specified by the Bank (AED 1,000 as per the current orders)
4. This minimum deposit amount limit can be amended without prior notice at the sole discretion of the Bank 

How to Open ADCB Hayyak Zero Balance Account?

The option to open an ADCB Hayyak Zero Balance Account is available online only via the ADCB Personal Internet Banking. With the completely online process, it has become quite easy to open your account without going to any offline branch. 

Simply follow the steps below to have your account activated in no time.

1. Access ADCB Personal Internet Banking by logging in there
2. On the left side of the page, click 'Open New Account'
3. Choose the account as per your choice here from the drop-down menu
4. Fill out the online application of ADCB Hayyak Zero Balance Account to have your account number automatically generated

You can also check out Policybazaar UAE and apply for the same here:

1. Visit policybazaar.ae and complete the initial online application form
2. You will get to see various savings accounts based on your provided details
3. Select the ADCB Hayyak option and complete the procedure as mentioned for the card there
4. Once you provide the relevant information, your application will soon reach the bank
5. If your application is approved, your account will get generated quickly 

How Much Interest is Paid on ADCB Hayyak Zero Balance Accounts?

As mentioned earlier, ADCB Hayyak Zero Balance Accounts allows users to earn significant interest amount and make the most out of their savings. With this account providing interest rates up to 0.15%, you can safely deposit your funds in the account and earn a good return on them.

How to Operate an ADCB Hayyak Zero Balance Account?

1. ADCB Hayyak Zero Balance account can only be operated through ADCB Internet Banking.
2. Customers who have registered for ADCB Internet Banking may open accounts directly through ADCB Internet Banking.
3. Customer information regarding an Zero Balance ADCB Hayyak Account may be communicated directly via email, ADCB Mobile SMS alert service, or any other channel ADCB deems appropriate.

How to Deposit Funds in ADCB Hayyak Zero Balance Account?

ADCB Internet Banking allows deposits made by account-to-account transfers or by electronic means, such as telegraphic transfers.

How do Withdrawals Work for ADCB Hayyak Zero Balance Accounts?

You can pay utility bills through ADCB Internet Banking using your credit card if you have an ADCB Hayyak Zero Balance Account. Cash withdrawals and transfers, on the other hand, are available at the ADCB branches. 

How Can One Check the ADCB Hayyak Zero Balance Account Statements?

You can access the ADCB Hayyak Zero Balance Account statements through ADCB Internet Banking by logging in there. ADCB also sends monthly e-statements to the customer's email address for their convenience. 

What is the Process for Deactivating an ADCB Hayyak Zero Balance Account?

Customers may close their ADCB Hayyak Zero Account at any time by sending an email from their registered mail address to the ADCB Personal Internet Banking mailbox indicating their wish to close the account. However, it should be ensured that there is no balance in the account at the time of closure. As an alternative, individuals can also visit any ADCB branch to do the same. 

FAQs

Q1: Is it possible to transfer ADCB Zero Balance Account?

Ans: ADCB Hayyak Zero Balance Accounts cannot be transferred/negotiated/ pledged to any other party.

Q2: Can the Zero Balance Account terms and conditions be changed by ADCB Hayyak?

Ans: The Bank may modify or amend the terms and conditions or introduce new ones at any time as per its discretion. Any changes in the same will be communicated to customers via the official bank website and/or by email.

Q3: Can salary be transferred to ADCB's Zero Balance Account?

Ans: As the requirements for ADCB Hayyak Zero Balance Account may vary as per the applicant, one should confirm with the bank regarding the availability of salary transfers.

Q4: How much must be maintained in the ADCB Zero Balance Account each month?

Ans: With a Zero Balance Account, there is no minimum balance requirement or penalty charges for failing to maintain a minimum balance.

Q5: Are there any transaction fees?

Ans: With the fees and terms and conditions varying for each individual as per their salary, age, and others, the exact transaction fees for this ADCB savings account must be verified by the bank.