Al Masraf Bank Accounts

Bank Account Types	Eligibility Criteria
Savings Account	Nationality - UAE national, resident, and non-resident Minimum Age - 18 years old Minimum Monthly Income Required - AED 5,000 The applicant should not have a conventional savings account with the bank in the same currency denomination
Current Account	Nationality - UAE national and resident Minimum Age - 21 years old Minimum Monthly Income Required - AED 5,000 The applicant should not have a conventional current account with the bank in the same currency denomination

Documents Required to Apply for Al Masraf Bank Account

Keep the following documents prepared when applying for an Al Masraf Bank account -

Bank Account Types	Eligibility Criteria
Savings Account	Nationality - UAE national, resident, and non-resident Minimum Age - 18 years old Minimum Monthly Income Required - AED 5,000 The applicant should not have a conventional savings account with the bank in the same currency denomination
Current Account	Nationality - UAE national and resident Minimum Age - 21 years old Minimum Monthly Income Required - AED 5,000 The applicant should not have a conventional current account with the bank in the same currency denomination

 

How to Apply for an Al Masraf Bank Account in the UAE?

Here’s how you can apply for an Al Masraf Bank account in the UAE -

 

Via Policybazaar.ae

You can easily apply for opening an Al Masraf Bank account in the UAE through policybazaar.ae. This is a third-party aggregator website that allows you to apply for a bank account right from your home without having to stand in a queue at the bank. 

To open an Al Masraf Bank account with policybazaar.ae, simply click on the “Bank Account” tab on the home page. You will be directed to the lead form where you would need to provide a few personal details. Once done, you will be directed to the quotes page where you can select the Al Masraf Bank account type as per your preferences and apply for it. 

 

Online Banking 

You can also open an Al Masraf Bank account via internet banking. For this - 

• Visit the bank’s website and select the bank account type you wish to open.
• Click on the ‘apply’ button.
• You will be directed to the lead form. Fill it in with all the relevant details. 
• Click on the ‘submit’ tab. Your initial request will be submitted and the bank will connect with you to go through the remaining process within 2 business days. 

 

Mobile Banking

With the Al Masraf Bank mobile banking application, you can have a smooth banking experience at your fingertips. To open a bank account using the Al Masraf Mobile Banking application, simply download the application via the Google Play store, iPhone App Store, or Huawei App Gallery. Once done, open the application and click on the ‘Open Bank Account’ tab. Fill in the lead form with personal details. 

Once done, submit the application to initiate the bank account opening request. The bank will connect with you within 2 business days for further processing. 

How to Close Al Masraf Bank Account?

You can close your Al Masraf Bank account by notifying the bank at any time once your dues to and from the bank are cleared. The bank can also close your account by giving you a 60-days notice and may request to make immediate settlements on the outstanding balance due to the bank. 

If you want to close your Al Masraf Bank account in the UAE, you can -

• Connect with the customer care executive via +971 60 052 999.
• Leave a message on their ‘Contact Us’ portal.
• Visit the nearest branch and connect with the designated relationship manager.
• Write an email to info@almasraf.ae.

Note: An account closure fee will be levied if you close your Al Masraf Bank account within 6 months from the date of opening. 

Frequently Asked Questions