A zero-balance bank account, as the name suggests, is a basic account that does not require you to maintain a minimum balance. Such an account is useful for those who regularly make major transactions and cannot maintain a balance.
Benefits of a Zero Balance Bank Account
Here are some perks that you get when you open a zero-balance bank account in the UAE —
Cost-Effective Banking - Zero balance accounts offer free online banking services. You can make several transactions per month without any charges.
Higher Interest Rates - One of the benefits of opening a zero-balance account is that you can earn more interest on your savings compared to other types of bank accounts.
Simple Setup - You can easily open your zero-balance bank account online from anywhere and at any time.
No Minimum Balance Fees - You would not have to pay any fine in case you don’t maintain any account balance.
Eligibility Criteria to Open 0 Balance Bank Account Online
Here are the eligibility criteria to open a zero-balance bank account online-
Nationality:UAE residents
Minimum Monthly Salary Required: Varies as per the bank
Age: Depends on the bank
Documents Required to Open Zero Balance Bank Account Online
The following is the list of documents required to open a zero balance account online —
Emirates ID
Valid Passport
UAE Residence Visa
Salary Transfer Certificate (if employed individual)
Trade Licence (if self-employed individual)
Residence Proof
How to Open a Zero Balance Bank Account Online in the UAE?
You can quickly open a zero-balance bank account online on Policybazaar UAE. This is your one-stop portal for all your banking and insurance needs.
To start the account opening process, fill in the lead form and go to the bank account quotes page. Here, you can compare the options and select an account that meets your requirements.
Find out more about opening a zero balance account in the UAE in the frequently asked questions section below.
Frequently Asked Questions
Q. Are there any extra charges for opening a zero-balance bank account?
There are no charges on opening a 0-balance account in the UAE.
Q. Can you perform international transactions via your zero-balance bank account?
Yes, you can do international transactions using your bank account.
Q. Is a salary transfer required to open a zero-balance bank account?
The salary transfer requirement depends on different banks’ policies.
Zero Balance Account
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