Bank Accounts in the UAE
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CBI provides a range of services conceptualized to meet the banking needs of the customers. Some of these services are savings account , current account, fixed deposit, etc.
CBI offers 5 different types of savings accounts. These Savings Accounts are Mabrook Account, Aspire Savings Account, Traditional Savings Account, CBI Saver Accounts and 3% eSaver Account.
Each CBI savings account comes with its own set of features and benefits.
The features and benefits of the CBI Mabrook Account include:
The features and benefits of the aspire savings account include:
The features and benefits of the traditional savings account include:
The features and benefits of the CBI Saver Accounts are as follows:
The features and benefits of the 3% eSaver Account are as follows:
The eligibility requirements for the various CBI savings account are as follows:
Documents required to open a CBI savings account are given below in the table:
|TYPES OF CBI SAVINGS ACCOUNT||DOCUMENTS REQUIRED|
|Mabrook Savings Account||
|Aspire Savings Account||
|CBI Saver Account||
|3% eSaver Account||
To open a Savings Account with the CBI Bank, the applicant must visit any branch of the CBI Bank.
To close a Savings Account with the CBI Bank, the customer will have to submit a letter to the branch of the bank.
Q1: What is the interest rate that I earn with the Mabrook Savings Account?
Ans: You will earn an interest rate of 0.10% if you maintain the minimum balance of AED 3000. The credit is paid two times in a year.
Q2: Is there any requirement to be eligible for the 1 million AED mega draw from the CBI Savings Account?
Ans: Yes, there is one requirement for the eligibility of the mega draw. You must maintain a minimum of AED 3000 every month in your Mabrook Savings Account.
Q3: How much interest rate can I earn with the Aspire Savings Account?
Ans: Depending on the tenor, you can earn up to 4% of the amount in the account.
Q4: What is the minimum deposit requirement for the Aspire Savings Account?
Ans: The minimum deposit requirement of the Aspire Savings Account is AED 1000.
Q5: What is the fee for failing to maintain the monthly balance requirements with the CBI Savings Account?
Ans: For failing to maintain the monthly balance requirements of the CBI Savings Account, you will be charged AED 25.
Q6: How is the Traditional Savings Account interest paid to the customers?
Ans: The interest is credited to the accounts of the customers every 6 months. Also, the bank calculates the interest every month.
Q7: What is the monthly balance I should maintain in my CBI Saver Account to earn interest?
Ans: You should maintain a minimum of AED 10,000 in your CBI Saver Account to earn any interest. You will earn 0.50% p.a for the minimum amount. However, you can earn up to 1.75% p.a with increasing amounts.
Q8: What is the minimum monthly balance to maintain with the CBI Saver Account?
Ans: You should maintain a minimum of AED 3000 with the CBI Saver Account.
Q9: What is an eSaver Account?
Ans: An eSaver account is the Online Savings account of the CBI Bank. AED accounts can be opened through the eSaver account.
Q10: Is it necessary for me to have an account with the CBI Bank to have an eSaver Account?
Ans: Yes, for an eSaver Account, you will need to have a primary account with the Commercial Bank International.