CBD Bank Accounts

Bank Accounts in the UAE

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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 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.

CBD Bank Accounts - Features & Benefits

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.

CBD Bank Account Types

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.

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.

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. 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.

CBD Fixed Deposit Account: CBD offers various 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. 

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 Bank offers three types of bank accounts for business clients.

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.

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

Below are the eligibility criteria for opening a CBD Bank Account.

Types of Bank Accounts Eligibility Criteria
Individual Bank Accounts CBD Current Account
  • Minimum Age Requirement: 21 years
  • Other Requirements: UAE Residents & Nationals only.
CBD Savings Account
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals, UAE Residents or non-Residents.
CBD Fixed Deposit Account
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Residents (non-Residents are also eligible to open some of the CBD Fixed Deposits Accounts).
Corporate Bank Accounts CBD Saving and Deposit Account
  • Annual Sales Turnover Required: AED 40 Million (only for Fixed & Deposit Accounts)
CBD Investment Account
  • Annual Sales Turnover Required: AED 40 Million (only for Fixed & Deposit Accounts)
see more

Documents Required to Open CBD Bank Accounts in UAE

For opening a bank account with CBD, the applicant will have to submit the following documents:

Types of Bank Accounts Documents Required
Individual Bank Accounts CBD Current Account
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Account Opening Form
CBD Savings Account
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Account Opening Form
CBD Fixed Deposit Account
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Account Opening Form
Corporate Bank Accounts CBD Saving and Deposit Account
  • 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
CBD Investment Account
  • 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
see more

How to Open CBD Bank Account in the UAE?

There are three methods of opening a bank account with CBD – online, offline, and through phone banking.

Online: The applicant can easily apply for the desired bank account via the safe and secure online banking option of the CBD.  The customers can easily access banking solutions and apply for bank accounts anytime and from anywhere.

Offline: The applicant has the option of visiting the nearest CBD branch to open a bank account. They will have to carry the required documents that need to be submitted to the bank before opening a CBD account.

Phone Banking: The applicant can also contact the customer care executive of the bank by calling on 600 575 556 in order to open an account with CBD.

CBD Bank Accounts FAQs

Q1: What is the minimum balance required to maintain on the CBD Current and Savings Accounts?

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

Q2: Do I need to pay any account closure charges for closing a bank account with CBD?

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

Q3: What is the use of the CBD mobile app?

Ans: 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.

Q4: Can I open a bank account with CBD online?

Ans: 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.

Q5: Do I have to pay any charge if my Current or Savings Account balance goes below the minimum requirement?

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

Q6: What are the charges for a negative balance?

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

Q7: Will I get a debit or credit card with any of the CBD bank accounts?

Ans: 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.

Q8: Can I open a CBD bank account in any currency?

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