Zero Balance Accounts in UAE 2022

Zero Balance Account 2022

Are you tired of fulfilling the minimum balance requirements of your account to keep it working? Don’t worry! All you need is a zero-balance account in UAE. What is a zero-balance account in UAE? Are you eligible to open a zero-balance account in UAE? Which banks in UAE are providing zero-balance accounts? Read on to get answers to all these questions!

What is a zero-balance account?

As the name suggests, zero-balance accounts have no minimum balance requirements. Many people can’t maintain the minimum balance of their accounts. Their account balance may drop to zero. For such people, some UAE banks have started providing their customers with zero-balance account services.

And the best part? Most of the zero balance accounts don’t require you to fulfill any sort of initial deposit requirements. It means if you have no money at all, you can still open a zero-balance account.

What documents are required to open a zero-balance account?

You will need the following documents for opening a zero-balance account.

  • Passport and its copy
  • Copy of original emirates ID card, student ID card, or any other identification document requested by the bank
  • Other documents: You can visit the bank’s website or contact the bank’s customer service representative to inquire about the other documents required (if any).

What is The Procedure to Open a Zero Balance Account In UAE?

Are you looking for the procedure to open a zero-balance account in UAE? Here is a step-by-step guide for you.

  • Analyze your needs and do your research to find the right bank in UAE for opening a zero-balance account balance.
  • Some of the banks provide an instant account opening facility online. To avail of this facility, visit the bank’s website and follow the instructions. The instructions on the websites are super easy to follow. So don’t hesitate to opt for the online facility.
  • If the bank you have chosen is not providing you with the online account opening facility, follow the following steps.
  • Make a phone call, visit the bank website, or visit the bank physically to book an appointment to open a zero-balance account in UAE.
  • Gather all the required documents.
  • Once you visit the bank with the required documents, you will be guided about the further procedure you need to follow to open a zero-balance account in UAE.

List of Zero Balance Accounts in UAE 2022

  1. ADIB Smart Banking Account
  2. Mashreq Happiness Account
  3. FAB iSave account
  4. HSBC Esaver account
  5. RAK Bank Fast Saver Online Account

Many banks in UAE offer zero-balance accounts. Here we have discussed some of these banks and their features in detail. Have a look!

1- ADIB Smart Banking Account


  • It offers you an instant account opening facility online.
  • You will be charged nothing in case of non-maintenance of the account balance.
  • You will get a personalized debit card for your account.
  • The smart banking mobile app provides you with easy access to online banking.
  • No ATM withdrawal charges in UAE.
  • You will earn a profit on every dirham deposited in your zero-balance account.
  • Provides you with an annual free international bank transfer.

Eligibility Criteria

  • The age limit for students to open a zero-account balance is 18 to 24 years.
  • The salaried person should have a minimum income of AED 5000.
  • Non-income persons are also eligible, i.e., housewives.

2- Mashreq Happiness Account


  • Sign up, and you will get a welcome bonus of up to AED 2000.
  • You won’t need to pay any monthly fee or maintain any minimum balance.
  • Make five online transactions monthly to earn Saleem Points worth AED 25 worth.
  • You will get a free cheque book for the first time.
  • You will be provided with a free debit card.

3- FAB iSave account


  • A great zero balance account in UAE.
  • No charges to open the account.
  • No limitations on withdrawal.
  • The interest rate is 2% on the maintained account balance.
  • ESaver account at Commercial bank of Dubai
  • Maintenance charges are zero.
  • You can make three debits a month.
  • CBD online banking lets you have easy access to your account.
  • Interest rates of up to 1.5% are offered on the monthly account balance.

Eligibility criteria

  • Expats and UAE nationals are both eligible.
  • The minimum salary should be AED 5000.

4- HSBC Esaver account


  • The interest rate on the monthly account balance is relatively low, i.e., up to 0.1%.
  • Zero maintenance charges.
  • Provides easy online access to your account.
  • Money withdrawal is very easy.

Eligibility criteria

  • This zero-balance account is for UAE residents.

5- RAK Bank Fast Saver Online Account


  • No maintenance charges are required.
  • You can make one cash withdrawal or five utility payments per month.
  • You can get the maximum interest rate of 0.5%.
  • You can use two currencies: AED and USD.
  • You don’t need to fulfill any minimum balance requirement.

How to choose the best bank for opening a zero-balance account?

Now you have gone through the five banks in UAE providing you with the zero-balance account facility. With myriad bank options available, you may be confused about which is best for you. Check these things to decide whether the bank is good for you or not.

Go for the bank that is not charging you for maintenance. Zero balance accounts should have zero maintenance charges.

Check the initial deposit requirement. Many banks require zero initial deposits. So go for them!

To make things easier, go for a bank account with no minimum salary criteria. If there is a minimum salary requirement, ensure it is as low as possible.

There should not be any strict monthly transaction requirements to be fulfilled.

To sum it up

Zero-balance accounts are best if you can’t maintain the minimum account balance. It’s also a fabulous way to earn a profit if you have money in your zero-balance account, depending on various banks’ interest rates. Otherwise, the balance remains zero, and so is the fee.

The banks mentioned in this article are some of the best banks where you can open your zero-bank account. Hope you are now crystal clear about opening a zero-bank account in UAE!

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