CBD Bank Accounts

Commercial Bank of Dubai (CBD) is one of the leading banks of the UAE. The bank was founded in the year 1969 that started out as a joint venture of Chase Manhattan Bank, Commerzbank, & Commercial Bank of Kuwait, later evolved into a National Public shareholding company by 1982.

CBD offers a wide range of retail and commercial banking products & services in conventional as well as Shariah Complaint formats, with a network of 26 bank branches and more than 260 ATMs across the UAE. The bank endeavors 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 & Savings Accounts to Business Account & Fixed Deposit Bank Account, the bank offers different types of the bank account to fulfill the particular need of its customers and help them to get the most out of their money.

CBD Bank Accounts - Features & Benefits

Below specified are the key features & benefits of CBD Bank Account:

Attractive Interest Rates

The account holder can avail attractive & competitive interest rate with the CBD Bank Account.

Online & Mobile Banking

The account holder can avail the Online & Mobile Banking in order to get access to their banking anytime and from anywhere.

24/7 Contact Centre

The account holder can avail the option of 24/7 contact service of CBD in order to get assistance round the clock.  

Finance Management

The account holder can easily manage their daily finances & plan their goals with the help of CBD bank accounts since each of the bank accounts is designed to meet the particular need of an individual.

Instant Account Opening

An individual can instantly open the 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. Following are some of the bank accounts offered by the CBD:

CBD Current Account

The current account offered by CBD is designed for providing maximum quality of services for fulfilling the various personal as well as business needs of an individual. Other than individuals, the CBD current account can also be operated by businesses and other entities. The account holder gets a MasterCard Platinum Debit Card along with the latest Chip & Pin security & contactless pay card technology. The first cheque book with the current account is also free.

CBD Salary Account

CBD offers Savings Accounts that are designed for the account holders to avail attractive returns and save more money for their secured future. CBD has two variants of the Savings Account i.e. Savings Account’ and ‘Esaver Account’. Each of these savings accounts comes with a wide range of features & benefits. Plus, there is no minimum monthly balance requirement for any of the CBD Savings Account.

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’, ‘Unit Time Deposit’, and ‘Long Term Deposit’ in tenures of up to 36 months. All of the Fixed Deposits Accounts offered by CBD are basically designed to offer attractive returns to the account holder. The longer is the tenure of the deposit, higher would be the returns. In addition to this, the account holder can avail attractive and competitive interest rate. 

CBD Business Account

CBD Business Accounts are designed to satisfy its account holders everyday business banking needs & delivers a smooth banking experience. The bank offers a choice of two feature-rich business bank account packages i.e. My Business & My Business Plus. In addition to this, CBD Business Banking offers a choice of business savings & deposit accounts that enable the account holder to separate their business funds from their daily business finances & attain attractive returns.

Eligibility Criteria to Open CBD Bank Accounts in UAE

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

CBD Account Types Eligibility Criteria
CBD Current Account
  • Minimum Age Requirement: 21 years
  • Other Requirements: UAE Residents & Nationals only.
CBD Salary Account
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals, UAE Resident or non-UAE Resident.
CBD Fixed Deposit Account
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Resident (non-UAE Residents are also eligible to open some of them CBD Fixed Deposits Accounts).
CBD Business Account
  • Annual Sales Turnover Required: AED 40 Million (only for Fixed & Deposits Accounts)

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:

CBD Account Types Documents Required
CBD Current Account
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Account Opening Form
CBD Salary 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 Deposit Application Form.
CBD Business Account
  • National Id or Passport (valid) with UAE Resident Visa & Emirates ID
  • Valid Legal & Constitutive Documents (i.e.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

How to Open CBD Bank Account in the UAE

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

Online

CBD offers the facility of online banking to their customers through they can easily access banking solutions and apply for bank accounts anytime and from anywhere. Well, the applicant can easily apply for the desired bank account via the safe and secure online banking option of the CBD.

Offline

The applicant has the option of visiting the nearest CBD branch to get the bank account open in the UAE. They will have to carry required documents that need to be submitted to the bank for opening a particular 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 get their account open with CBD.

CBD Bank Accounts - FAQs

Q.1. What is the minimum balance required to maintain on the CBD Current & Savings Accounts?

You need to maintain a minimum balance of AED 3000 on both Current & Savings Accounts with CBD in the UAE.

Q.2.  Do I need to pay any account closure charges for closing a bank account with CBD?

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

Q.3. What is the use of CBD mobile app?

CBD mobile banking app is way too useful as it provides you 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.

Q.4.  Can I open a bank account with CBD online?

Of course, yes! The bank lets you open bank account with CBD online. All you need to visit the official website of the bank and choose the bank account that you wish to open. Not only it is the easiest process of opening a bank account but also it is the quickest one that takes only a few minutes to complete.

Q.5. Do I have to pay any charge if my Current & Savings Account balance goes below the minimum requirement?

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

Q.6. What are the criteria for a negative balance?

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

Q.7. Will I get debit or credit card with any of the CBD Bank Accounts?

Well, yes. You will get a complimentary debit card (i.e. Platinum Mastercard Debit Card) with the CBD Current Account as well as CBD Savings Accounts.

Q.8. Can I open CBD Bank Account in any currency?

You can open CBD Bank Account in AED and other major currencies including US Dollars, Euro, GBP Pounds.