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.
Let’s say that you forgot to pay your utility bill on the due date. By the time you remembered about the bill, the day has passed, the banks are closed, and company offices are shut. All you can do is to wait for the offices to open the next day and pay the bill along with a penalty. How often has it happened that you need to make an account transaction but it is a holiday or the working hours are over for the day? With HSBC E-saver, you no longer need to worry about delayed payments and penalties.
HSBC E-Saver Account allows you to make the most of your savings by earning an attractive rate of profits on your finances. The interest on your HSBC E-Saver account is calculated daily and transferred to your account every month which allows you to earn profits on your balance every month. Besides, the monthly interest applies to both the principal amount and the interest earned in the previous months. This allows you to earn compound savings on your savings account. However, if you make more than one debit transaction per month, the bank will not pay monthly interest to you.
Unlike other savings account, the HSBC E-Saver account does not apply any minimum balance limit to earn a profit on your savings. Irrespective of your balance account, the bank will calculate and transfer the interest earned on your savings every month. Let’s say that your balance is AED 100. Nevertheless, you will receive interest on your balance.
ADCB believes that time should not be the barrier when it comes to your banking needs. To meet your banking demands even during those odd hours, the HSBC E-Saver Account provides you accessibility to your bank account round the clock. Irrespective of the time, you can avail of the banking facilities even in the middle of the night. What’s more? HSBC E-Saver account allows you to make transactions and avail of some banking facilities even on the holidays.
All the facilities offered by HSBC bank can be accessed through an e-banking app on your mobile phone. This allows you to take your bank everywhere with you. Even in the most remote locations, you can have access to your money.
HSBC E-saver account gives you the freedom of maintaining zero balance on your bank account without worrying about penalties.
The interest rates on your HSBC E-saver account vary as per the tier and account balance:
|Account Balance||Interest Rate|
|Tier 1||Less than AED 100,000||0.01|
|Tier 2||From AED 100,000 and less than AED 1 Million||0.02|
|Tier 3||From 1 Million and less than AED 5 Million||0.03|
|Tier 4||AED 5 Million and above||0.05|
To make the most of your savings, do not make more than one withdrawal from your HSBC E-Savings account per month.
|Account Opening Balance||Nil|
|Minimum Monthly Balance||Nil|
|Statement of Account per cycle||Free|
|Statement of Account previous cycle||Nil|
|Account Closure||AED 105|
Most of the facilities and services offered on your HSBC E-saver account are free which enhances your savings by reducing your expenditure on maintaining your account.
HSBC E-saver account is an exclusive account that accepts only AED currency. In case you need to make deposits using another currency, check other savings account offered by the bank.
Any UAE National or resident holding a valid authentic UAE residence visa can open an HSBC E-saver account.
For existing HSBC account holders in the UAE, no additional documents are required to open an HSBC E-saver account.
New HSBC customers who do not have any bank account in HSBC require:
You can also an HSBC E-saver joint account by showing the following documents:
You can open an HSBC E-saver account both online or offline. To open a bank account offline:
You can also HSBC E-saver account online by:
You can also open your bank account using policybazaar.ae by:
Q1: How can I deposit money into my bank account?
Ans: You can deposit money to your account through an online transaction, cheque books, and telegraphic transfers.
Q2: Will I receive a chequebook along with an HSBC E-savings account?
Ans: No, since HSBC E-saver is a savings account chequebook is not given with this account.
Q3: Will I receive a debit card along with an HSBC E-savings account?
Ans: No, you will not receive a debit card with this account.
Q4: Are there any additional charges on the dormant account?
Ans: No additional charges will be levied on the dormant account.
Q5: What are the charges on accessing an online banking facility?
Ans: No, an online banking facility is provided free of cost.