Bank of Baroda UAE offers a wide range of banking services to its customers, with this list including savings and current accounts, credit cards, loans, investments, deposits, money transfers, and foreign exchange services.
With several awards and recognitions worldwide, the Commercial Bank of Dubai is famous for its digital as well as conventional banking in the UAE. In 2018, the bank won the Best Online Cash Management Award by Global Finance. Over the years, CBD has worked relentlessly, transforming itself into a modern and progressive banking institution. It offers a variety of products and services ranging from individual and business bank accounts to help customers manage their finances conveniently.
CBD business bank accounts in UAE are robust and tailor-made to fulfil the customers’ needs and provide the freedom to expand businesses worldwide. Considering the need to nurturing businesses and entrepreneurs, it also offers CBD cc with no minimum balance (CBD Business Starter Accounts). These accounts levy minimal service charges and provide ample opportunities for their quick financial growth. In this article, we will learn more about such accounts and their advantages.
Specifically designed for young and talented entrepreneurs, the CBD business account provides a strong foundation for business startups to grow at lightning speed. With no minimum balance criteria, they can easily handle the ups and downs in the early stages of the business without being liable to the bank. Following are some of the advantages of CBD business bank accounts with no minimum balance requirement.
Providing a favourable environment for startups and entrepreneurs, the Commercial Bank of Dubai offers various features and benefits with its zero balance accounts. Some of the key features and benefits are listed below.
The bank promises standard account charges specially optimised for startups and entrepreneurs. The bank levies a monthly account maintenance fee, standing instruction charges, remittance fee, and other charges as mentioned below -
|Charges and Fees Type||Amount in AED|
|Minimum balance||AED 0|
|Non-maintenance of Minimum Balance Charges||AED 0|
|Maintenance Fee per month||AED 125|
|Set-up Charges||AED 50 Per Set up|
|Execution Charge||AED 15 Per Transaction|
|Insufficient fund failure charges||AED 100 Per Transaction|
|Amendment and Cancellation||AED 20|
|Local within UAE||AED 1|
|Foreign Remittance||AED 20/ USD 10/ EUR10|
|Managers Cheques and Demand Draft|
|Managers Cheques charges per cheque||AED 20|
|Demand Drafts charges per cheque||AED 20|
|Chequebook||1st Chequebook is Free AED 50 Per Chequebook thereafter|
|Inward clearing (Clients payments)||Free|
|Inward clearing return cheques (Clients payments)||AED 500 per cheque|
|Return cheques: Outward clearing||Free|
|Counter cash deposit||AED 50 per transaction|
|Machine Cash deposits||Free|
|Counter cash withdrawal||AED 40 per transaction|
|ATM Cash withdrawal||Free|
Note - Additional 5% VAT is applicable on all the charges.
CDB Starter Business Accounts are designed for new businesses and startups. The starter account is available for:
Individuals willing to apply for CBD zero balance business account need to submit the following documents during application.
Owing to its modernised digital banking system, CBD business accounts are easy to open through various channels. Applicants can visit the bank’s branch or log in to CBD’s official portal and fill the application form. Following are the ways to open no minimum balance business accounts in the Commercial Bank of Dubai.
|Within UAE||04 211 2818|
|Outside UAE||+971 4 211 2818|
As it’s vital for any business to have a strong financial base, the CBD business account with no minimum balance offers a suitable banking platform to develop new businesses in UAE. These accounts levy standard maintenance and transaction charges, thereby reducing the entrepreneurs’ liabilities towards the bank and making it a perfect choice for new ventures and startups.