CBD Bank Accounts

Commercial Bank of Dubai (CBD), defining itself as a "progressive and modern banking institution", offers different types of bank accounts to its customers. Ranging from saving & current accounts to fixed deposit & business accounts, these accounts come with various features such as a 24/7 contact centre, online banking facility, instant account opening, and more. CBD bank accounts can be opened in multiple currencies including EUR, GBP, USD, and more. ...read more

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  • Current Account
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Commercial Bank of Dubai (CBD) is one of the leading banks of the UAE. Founded in 1969, the bank started as a joint venture between Chase Manhattan Bank, Commerzbank, and Commercial Bank of Kuwait. It later evolved into a national public shareholding company by 1982.

CBD offers a wide range of retail and commercial banking products and services in conventional and Sharia-compliant formats. With a network of 26 bank branches and more than 260 ATMs across the UAE, the bank endeavours to build sustainable prosperity through excellent banking services.

When it comes to offering services in terms of bank accounts, CBD has earned the trust of many people in the UAE. From current accounts and savings accounts to CBD business accounts and fixed deposit accounts, the bank offers different types of accounts to fulfil the particular need of its customers and help them get the most out of their money.

Features & Benefits of CBD Bank Accounts

Specified below are the key features and benefits of CBD Bank Accounts.

  • Attractive Interest Rates: The account holder can avail attractive and competitive interest rates with CBD Bank Accounts.
  • Online & Mobile Banking: The account holder can avail free online and mobile banking services to access their account anytime and from anywhere.
  • 24/7 Contact Centre: The account holder can avail CBD Bank’s24/7 customer contact service to get assistance round the clock.  
  • Finance Management: The account holder can easily manage their daily finances and plan their goals with the help of CBD bank accounts since each of the bank accounts is designed to meet the particular needs of an individual.
  • Instant Account Opening: An individual can instantly open a CBD bank account through online banking.

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Account Types of CBD Bank in UAE

CBD offers various types of bank accounts that vary in terms of their benefits, features and minimum balance requirements. The bank offers both personal and business accounts for its customers. Following are some of the bank accounts offered by CBD.

  1. Individual Bank Accounts

  2. Corporate Bank Accounts

Individual Bank Accounts

CBD personal bank accounts help individuals manage their finances in a better way. They encourage account holders to save more and create a robust financial base for themselves.

CBD Bank offers three types of bank accounts for individual clients.

1. CBD Current Account:

CBD current accounts offer quality banking services for the account holders and help them fulfil their personal banking needs. With CBD current account, account holders get a MasterCard Platinum Debit Card with the latest Chip & Pin security and contactless pay card technology. The first chequebook with the current account is also free.

2. CBD Savings Account:

CBD savings accounts help account holders avail attractive returns and save more money for their secured future. CBD has two variants of the savings account, i.e. Savings Account and E-Saver Account. Each of these savings accounts come with a wide range of features and benefits. The best part about CBD savings accounts is that they come with no minimum monthly balance requirement.

3. CBD Fixed Deposit Account:

CBD offers various CBD fixed deposit accounts such as Step-Up CBD Elite, Step-Up Time Deposit, Bonus Booster Deposit,Premium Saver Deposit,Time Deposit, and Unit Time Deposit in tenures of up to 36 months. All of the fixed deposit accounts offered by CBD are basically designed to offer attractive returns to the account holders. The longer the tenure of the deposit, the higher would be the returns. In addition to this, the account holder can avail attractive and competitive interest rates with these fixed deposit accounts. 

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Corporate Bank Accounts

CBD Corporate Bank Accounts help business customers to differentiate their personal finances from business finances. They help small and large business entities manage their finances in more efficient ways. The bank accounts deliver a smooth banking experience to business customers to fulfil their everyday banking needs.

CBD Corporate Bank Accounts are available in five types of business account packages Starter, Premium, Gold, Platinum and Exclusive DED Promotion – and can be availed by corporate clients based on their needs.

CBD Corporate Bank Accounts for Business Clients.

1. CBD Saving and Deposit Account:

CBD Saving and Deposit Accounts enable account holders to separate their business funds from their daily business finances and attain attractive returns. The bank account offers attractive interest rates with six account currency dominations for the account holders. To open a business savings and deposit account, a minimum monthly balance of AED 2,000 is required. The bank account offers additional banking services like free SMS transaction alerts, mobile banking, online account enquiry service and much more.

2. CBD Business Investment Account:

With CBD Investment Account, the account holders can customise their investment solutions based on their financial needs. The bank account can be opened in multiple currencies, including AED and USD. The bank account allows account holders to choose their preferred deposit tenure and earn a considerable amount of interest on their savings.

Eligibility Criteria to Open CBD Bank Accounts in UAE

CBD has certain entry requirements for individuals who wish to open their bank accounts:

Criteria Eligibility Requirements
Nationality UAE nationals and UAE resident applicants are eligible.
Age The age of the applicant must be between 18 to 21 years (depending on the type of bank account)

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How to Open a CBD Bank Account in the UAE Via Policybazaar UAE?

The following is the process for opening a CBD bank account through our digital platform: 

  1. Visit www.policybazaar.ae
  2. Move to the ‘Banking Products’ section. 
  3. Select ‘Open Bank Account’. 
  4. Fill out the lead form with accurate details. 
  5. Locate the CBD bank account and hit the ‘Apply’ button. 
  6. Once directed to the bank’s page, complete the on-screen prompted instructions. 

Documents Requirement for Open a CBD Bank Account in UAE

CBD requires applicants to present a set of documents at the time of applying for a CBD bank account. The following is a list of documents required for every CBD bank account applicant: 

For Individual Bank Accounts

  • Emirates ID
  • A valid residence visa
  • A valid passport or National ID
  • Duly filled account opening form (manual or digital)

For Corporate Bank Accounts

  • National Id or Passport (valid) with UAE Resident Visa & Emirates ID
  • Valid Legal & Constitutive Documents (Trade License, Memorandum of Association, Certificate of Commercial Registration, Free Zone of Incorporation, Partnership Agreement)
  • Address Proof
  • Bank Reference Letter & Company Profile
  • Board Resolution or Power of Attorney
  • Beneficial Owner’s Details

FAQs for Open CBD Bank Account

What is the minimum balance required to maintain on the CBD Current and Savings Accounts?

You need to maintain a minimum balance of AED 3,000 on both Current and Savings Accounts with CBD.

Do I need to pay any account closure charges for closing a bank account with CBD?

Well, yes. You need to pay an account closure charge of AED 100 for closing a bank account with CBD.

What is the use of the CBD mobile app?

CBD mobile banking app is very useful as it provides the flexibility of checking your transaction history, account’s balance, transfer funds to other banks of the UAE, navigate an ATM/branch using the locator tools, and apply for products with the utmost ease. In short, it lets you enjoy the convenience of banking no matter where you are.

Can I open a bank account with CBD online?

Of course! CBD bank gives you an option to open a bank account online. All you need to do is visit the bank’s official website and choose your preferred bank account. Not only it is the easiest process of opening a bank account, but it is also the quickest one that takes only a few minutes to complete.

Do I have to pay any charge if my Current or Savings Account balance goes below the minimum requirement?

Well, yes. You will need to pay AED 25 if your Current or Savings bank account balance goes below the minimum requirement.

What are the charges for a negative balance?

You need to pay AED 200 if there is a negative balance in your CBD Bank Account.

Will I get a debit or credit card with any of the CBD bank accounts?

Yes, you will get a complimentary debit card (i.e. Platinum MasterCard Debit Card) with the CBD Current Account as well as CBD Savings Account.

Can I open a CBD bank account in any currency?

You can open a CBD bank account in AED and other major currencies including USD, EUR, GBP, etc.

Are there any charges imposed by CBD if my current bank account balance goes in negative?

Yes, the bank account holder will have to pay a fee of AED 200.

 

What is a Step-Up CBD Elite Account?

This is a deposit account specifically curated for CBD Elite customers. Here, individuals can save for a year and get guaranteed returns on the deposited money. 

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