Open Online Al Masraf Bank Savings Account in UAE, Dubai

Established in 1975, Al Masraf Bank operates under the proprietorship of Abu Dhabi Investment Authority, one of the most substantial and impactful sovereign wealth funds around the globe. Its operations are regulated and licensed by the Central Bank of the UAE.

Catering to both corporate entities and individual patrons, Al Masraf offers an extensive array of banking services. Its product repertoire encompasses current accounts, savings accounts, and debit and credit cards, in addition to personal loans, mortgages, and vehicle financing options. Moreover, the bank also provides wealth management and investment services.

One of Al Masraf Bank’s notable offerings is its savings account. This savings account offers a multitude of benefits - accessibility, security, and enticing interest rates. These characteristics position it as a preferred selection for those who intend to safely multiply their funds in UAE.

Features and Benefits of Al Masraf Bank Saving Accounts

Without further ado, let’s take a look at the key features and benefits of Al Masraf Bank savings accounts –

Digital Account Opening with Al Masraf Mobile App: Transforming banking into a digital experience, Al Masraf provides the opportunity to open an account through its mobile application. The Al Masraf app can be downloaded from the App Store, Google Play, or Huawei App Gallery, making banking an easy task from the comfort of your home.
Zero-Cost Banking Experience: Al Masraf Savings Account holders can enjoy a banking experience with no additional charges, as all standard banking fees by Al Masraf are fully waived.
No Minimum Balance Maintenance: Al Masraf ensures a worry-free banking experience for its customers by eliminating the requirement for minimum balance maintenance. This customer-centric feature allows account holders the freedom to use their funds without the need to maintain a minimum balance in their accounts.
Cashback Rewards on Debit Card: You can enjoy unmatched rewards with the Al Masraf Debit Card, including 1% cashback on all your purchases.
Complimentary International Fund Transfers: Al Masraf makes global transactions smoother with its free international fund transfer service. With this service, you can send money abroad without any extra charges.
Real-time Transaction Alerts: You can stay updated with all your account activities through free SMS alerts, which provide real-time security and enable better control over your account.
No Processing Fees: Al Masraf Bank savings account does not charge any processing fees.
Comprehensive Online Banking Services: With Al Masraf, banking is always available at your fingertips. Enjoy the convenience of managing your account with mobile and internet banking services. From tracking account activity to making transactions, everything is just a few clicks away.
Cashback Details: Al Masraf debit card offers 1% cashback on all retail spends without any restrictions or caps, thus amplifying your savings as you spend.

Eligibility Criteria For Al Masraf Bank Savings Account

You would need to fulfil the following eligibility criteria to apply for an Al Masraf Bank savings account –

Parameters	Eligibility Criteria for Al Masraf Bank Savings Account
Age	18 years or older
Nationality	UAE Nationals, Residents, and Non-Residents
Other Terms	The applicant should not hold any conventional savings account in the same currency with Al Masraf Bank

Documents Required For Al Masraf Bank Savings Account

Keep the following stack of documents ready while applying for an Al Masraf Bank savings account –

Copy of passport
Copy of Emirates ID
Copy of residence visa
Address proof

Note: You may be asked to submit additional documents as per your application.

How to Apply for Al Masraf Bank Savings Account?

Applying for an Al Masraf Bank savings account is a seamless procedure, with Policybazaar UAE being available to assist you in this endeavour. As a reputable third-party aggregator, Policybazaar.ae specialises in providing an extensive array of financial products and services, including bank accounts.

Follow the step-by-step instructions below to apply for an Al Masraf Bank savings account through the official website of Policybazaar UAE:

To start the process, visit Policybazaar.ae.
Navigate to the dedicated bank accounts section on the website, which offers comprehensive information and multiple options for various bank accounts.
Provide accurate details in the lead form and ensure that all the required information is furnished.
Upon completing the lead form, submit it. After that, you will be directed to the bank accounts quote page, where a diverse range of options is available.
Utilise the filtering tools available on the quote page to streamline your search and pinpoint the Al Masraf Bank savings account that aligns with your specific needs. Once you have identified the account, proceed with the application process.
In case you encounter any difficulties during the application procedure or require expert advice, Policybazaar.ae extends the assistance of financial expert advisors. Our professionals possess the knowledge and expertise to guide you through the application process and assist you in selecting the most suitable account tailored to your requirements.

Here are some of the noteworthy advantages of applying for a bank account through Policybazaar.ae -

Round-the-Clock Customer Service: Policybazaar.ae offers round-the-clock customer service, ensuring that you can seek assistance and support whenever the need arises.
Diverse Range of Bank Accounts: Through Policybazaar.ae, you gain access to a wide selection of bank accounts from various financial institutions, including Al Masraf Bank. This empowers you to compare different options and choose the account that best suits your preferences.
Free Financial Expert Advice: We provide the invaluable benefit of free financial expert advice. So if you require guidance or have any queries related to bank accounts, our advisors are readily available to offer the necessary assistance.
User-Friendly Interface: The website of Policybazaar UAE boasts an intuitive and user-friendly interface. As a result, navigating through the bank accounts section and completing the application process is both straightforward and convenient.
Simplified Presentation of Information: We, at Policybazaar.ae, ensure that the information and content on our website are presented in a simple and understandable manner. This makes it easier for you to comprehend the details of bank accounts and make well-informed decisions.

Open Savings Account in Other UAE's Banks -

Frequently Asked Questions

Yes, Al Masraf Bank savings accounts are available to both UAE residents and non-residents. Whether you are a UAE national or a foreigner, you can apply for a savings account with Al Masraf Bank.

To open an Al Masraf Bank savings account, you need to be 18 years old or above. Applicants below the age of 18 may need to explore other account options or consider opening a joint account with a guardian.

No. To be eligible for an Al Masraf Bank savings account, you should not currently hold any conventional savings account in the same currency with Al Masraf Bank.

To apply for an Al Masraf Bank savings account, you typically need to submit the following documents -

Copy of passport
Copy of Emirates ID
Copy of residence visa
Address proof

Please note that additional documents may be required based on your specific application and the bank's policies.

Applying for an Al Masraf Bank savings account through Policybazaar.ae is a straightforward process. Here's how you can do the same -

On Policybazaar.ae, navigate to the bank accounts section. This section provides comprehensive information and options for different bank accounts.
Fill out the lead form accurately.
Submit the form to be redirected to the bank accounts quote page, where you can explore a variety of options.
Use the filtering options to narrow down your search and find the Al Masraf Bank savings account that suits your needs.
Follow the application process to proceed with opening the account. If you need assistance or expert advice, Policybazaar UAE offers the support of financial expert advisors.

When applying for a bank account through Policybazaar.ae, you can enjoy several advantages such as -

Round-the-clock customer service for assistance and support
Access to a wide range of bank accounts from different financial institutions, including Al Masraf Bank, which allows you to compare and choose the best option for your preferences.
Free financial expert advice to guide you through the process and answer any questions that you may have
User-friendly website interface for easy navigation and application completion
Simplified information presentation without technical jargon, ensuring clarity and understanding.

Al Masraf Bank offers a zero-cost banking experience for savings account holders, meaning that there are no additional charges or fees associated with opening or maintaining the account.