Emirates NBD Mudaraba Savings Account

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Emirates NBD is one of the leading financial solutions in Dubai. It was established in 2007 and has been delivering excellent services to UAE clients since then. The bank offers a wide range of bank accounts for both companies and individuals.

The bank is well-known for its quick and easy banking services, excellent customer support and complete understanding of local markets.

Here are the types of savings accounts that the Emirates NBD offers:

  1. Current Account
  2. Value Account
  3. Islamic Account
  4. Savings and Deposit Account
  5. Gold Investment Account

The Emirates NBD Mudaraba Savings Account offers multiple features and benefits to help account holders manage their finances hassle-free. Only individuals can open a Mudaraba Savings Account.

Let us go ahead and learn about the Emirates NBD Mudaraba Savings Account in detail.

Features & Benefits of Emirates NBD Mudaraba Savings Account

Here is the list of features and benefits that the Emirates NBD Mudaraba Savings Account offers.

1. Multiple Currencies

Emirates NBD Mudaraba Savings Account can be operated in two major currencies, AED and USD.

2. Minimum Balance Requirement

To open an Emirates NBD Mudaraba Savings Account, the minimum balance requirement is AED 3,000. The bank offers healthy returns to the account holders who maintain an average monthly balance of AED 3,000 in their Mudaraba Savings Accounts.

3. Interest Payment

Emirates NBD Mudaraba Savings Account pays out interest to the account holders on a quarterly basis. The minimum tenure to avail of the interest benefits is 30 days.

4. Online and Mobile Banking

Emirates NBD Mudaraba Savings Account can be accessed using both online and phone banking. The bank’s online portal has made it much easier for users to access their account details and manage their transactions closely.

5. Quick and Convenient Transfers

Emirates NBD Mudaraba Savings Account provides users with an online portal named DirectRemit. DirectRemit helps account holders make free and quick transfers (in 60 seconds) to multiple countries, including the United Kingdom, India, Philippines, Sri Lanka, Pakistan, etc. by simply using online or mobile banking.

6. Easy Bill Payments

Emirates NBD Mudaraba Savings Account allows account holders to make safe and secure money transfers to make their bill payments.

7. MePay Cashless Transfers

Emirates NBD Mudaraba Savings Account allows customers to use mePay to make cashless transfers by using mobile numbers. With this app, you can even send money to those who do not have Emirates NBD Mudaraba Savings Account.

8. Half-Yearly E-Statements

Emirates NBD Mudaraba Savings Account offers attractive interest rates based on the average account balance you maintain. The profits from the bank are paid on a half-yearly basis.

9. Excellent Rewards

Emirates NBD recognises the customers’ loyalty every now and then. It establishes a strong relationship with the customers by providing them with exclusive rewards, easy discounts and extended benefits from time to time.

10. Attractive Banking Packages

Emirates NBD Mudaraba Savings Account offers attractive banking packages based on the average balance you maintain in your account. The categories of the packages are named Classic, Plus, Plus Maximizer and Beyond.

Let us go ahead and learn the benefits of different packages.

Banking Packages with Maximised Benefits

Here is the list of banking packages based on the account balance you maintain.

Classic Plus Plus Maximizer Beyond
Minimum Balance Requirement of AED 3,000 Minimum Salary or Minimum Balance Requirement of AED 5,000 Minimum Salary AED 5,000 Minimum Salary AED 10,000 or Minimum Balance Requirement of AED 100,000
Low Fee Teller Transactions Free Teller Transactions Free Teller Transactions Free Teller Transactions
Free Debit Card Free Cheque Book and Debit Card Free Cheque Book and Debit Card Free Cheque Book and International ATM Cash Withdrawals
No Membership Benefits No Membership Benefits No Membership Benefits Free Membership for Beyond Rewards App with up to AED 50,000 Savings
Free Local and International Remittances Free Local and International Remittances Free Local and International Remittances Free Local and International Remittances
No Credit Cards No Credit Cards No Credit Cards Skywards Signature Credit Cards with 40,000 Skyward Miles
No Benefits on Loans No Benefits on Loans No Benefits on Loans Benefits of Uup to AED 8,000 on Credit Cards and Loans
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Documents Required to Opening an Emirates NBD Mudaraba Savings Account 

Here is the list of documents required to open an Emirates NBD Mudaraba Savings Account.

Categories Documents
UAE Nationals Identification documents
  • Original Emirates ID
  • A copy of Emirates ID
  • A copy of the passport
Any one of these documents in case of Salary Transfer
  • Copy of Labor Card
  • Copy of Employee ID
  • Latest Salary Letter
  • Copy of employment visa page from the Ppassport
Residents Identification documents
  • Original Emirates ID
  • A copy of Emirates ID
  • A copy of the passport
Any one of these documents in case of Salary Transfer
  • Valid Salary Transfer Letter
  • Copy of Appointment Letter
  • 3 Months Pay Slips
  • Consolidated letter from HR for bulk accounts
  • Bank statement with last month salary credit transaction
Non-Residents Identification documents
  • Original passport
  • A copy of passport with visa page
Any one of these documents -
  • Utility bill -– not more than 3 months old
  • Bank statements - not more than 3 months old
  • Reference letter from the bank in the home country validating the relationship
  • Residential address proof as per the home country bank records
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How to Apply for Emirates NBD Mudaraba Savings Account 

Here are the two main ways of opening an Emirates NBD Mudaraba Savings Account.

1. Visit the Branch

To open an Emirates NBD Mudaraba Savings Account, you can simply visit the nearest branch with all the essential documents. 

2. Visit the Website

You can also visit the bank’s website and place a request for account opening. The bank representative will get back to you and open your account within two working days.

Frequently Asked Questions on Emirates NBD Mudaraba Savings Account 

Q1: How to open an Emirates NBD Mudaraba Savings Account?

Ans: To open an Emirates NBD Mudaraba Savings Account, you can visit any of the bank branches. You can also visit the bank’s website and place a request for opening a savings account. Once you have placed the request, wait for the bank representative to get in touch with you. It takes two working days for the account to be opened, provided you have submitted all the correct documents.

Q2: Do I get any Cheque book or ATM card?

Ans: Yes, you get a free debit card and cheque book if you choose the Plus Banking Package and maintain a minimum account balance of AED 5,000. If you want only a free debit card, you can get it by maintaining a minimum account balance of AED 3,000.

Q3: What is the minimum balance requirement for opening an Emirates NBD Mudaraba Savings Account?

Ans: The minimum balance requirement for opening an Emirates NBD Mudaraba Savings Account is AED 3,000.

Q4: What is DirectRemit?

Ans: DirectRemit is an excellent remittance service for the account holders to help them make instant money transfers to their home country for free. You can make DirectRemit transactions by logging in to your online or mobile banking. 

Q5: Is there any transaction limit or fee for DirectRemit transactions?

Ans: No, you can make an unlimited number of DirectRemit transactions for free.

Q6: How can I enrol and view e-statements for my Mudaraba Savings Account?

Ans: You are already enrolled for e-statements of your Mudaraba Savings Account. You can view your e-statements on your laptop, Android, iPad and iPhone as long as you have Acrobat reader installed.

Ruchi Gohri
Ruchi Gohri40 Posts

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.