Standard Chartered Bank is one of the most recognised names in banking around the world. The bank offers both conventional and Shariah-compliant savings, current, and fixed deposit accounts in the UAE to help you make great savings and utilise your money better. All these products are developed to help you save and control your funds in a better way.
The savings account, in particular, can offer you attractive returns on the monthly average balance that you maintain. The main Standard Chartered Bank savings accounts are -
This write-up would focus on the last item in this list, i.e., XtraSaver Account. Read this piece to know more about the features and benefits of this account, its eligibility criteria, the documents required to open it, and more.
Standard Chartered Bank XtraSaver Account is a zero-balance bank account that promises attractive returns on savings. You can open this account only in AED or USD denominations.
The following are the features of Standard Chartered Bank XtraSaver Account -
Note - The Contactless Debit Card is not available for USD accounts
You can get 2% per annum interest on your average quarterly balance (on AED accounts) and 1.5% per annum interest on your average quarterly balance (on USD accounts). The following is the detailed rundown of the interest rates offered by the Standard Chartered Bank XtraSaver Accounts -
AED Denomination
AED Rates (Per Annum) on Average Balance | Month 1 | Month 2 | Month 3 |
---|---|---|---|
0 to AED 180,000 | o.25% | o.25% | o.50% |
AED 180,001 to AED 365,000 | o.25% | o.25% | 1% |
AED 365,001 and above | 0.25% | 0.25% | 2% |
USD Denomination
USD Rates (Per Annum) on Average Balance | Month 1 | Month 2 | Month 3 |
---|---|---|---|
0 to USD 50,000 | o.25% | o.25% | o.50% |
USD 50,001 to USD 99,999 | o.25% | o.25% | 1% |
USD 100,000 and above | 0.25% | 0.25% | 1.5% |
Tabled below are the charges levied on Standard Chartered XtraSaver Account -
Services | Fees | Apply |
---|---|---|
Account Maintenance Fee | AED 26.25 | Apply Now |
Set up of Standing Order | AED 52.5 | Apply Now |
Replacement Debit Card | AED 26.25 | Apply Now |
Cash Withdrawal at non-Standard Chartered Bank UAE ATM | AED 2.1 per transaction | Apply Now |
International ATM Withdrawals | AED 21 per transaction | Apply Now |
Outward/Inward Remittance Advice Requests | AED 31.5 per request | Apply Now |
Note: All the charges are inclusive of 5% VAT and are subject to change upon the bank’s discretion
Given below are the major eligibility criteria for Standard Chartered Bank XtraSaver Account -
You would be asked to present these documents to open an XtraSaver account -
For Residents and UAE Nationals
For Non-residents
You can apply for Standard Chartered Bank XtraSaver Account in any of the following ways -
You can easily apply for any of Standard Chartered Bank XtraSaver through policybazaar.ae. As a third-party aggregator, we can help you open your bank account without having to wait in queues for hours at the bank branch and with minimal documentation requirements.
To open this bank account using Policybazaar UAE, simply fill in the lead form on the bank account section of our website with all the required information. After this, you will be directed to the quotes page from where you can select XtraSaver Account and click on the Apply tab. Your application will be forwarded to the bank.
Visit the official website of the Standard Chartered Bank and select XtraSaver Account. Once on the account’s landing page, click on the “Apply” tab to be directed to the online application form. Provide all the required information and upload the documents to support the information, after which you can submit the application.
You can also pay a visit to your nearest Standard Chartered Bank branch to apply for a Standard Chartered XtraSaver account. Carry all the essential documents. Take the form from the assigned counter and fill it in accurately. Attach the photocopies of the required documents to prove your identity and submit them to initiate the application process.
If you want to close your Standard Chartered Bank XtraSaver account, you can call the bank’s customer care on 600 5222 88 (24-hour helpline). On the other hand, if you are abroad and wish to close your Standard Chartered XtraSaver account, you would be required to dial +971 600 5222 88.
You can also visit your nearest bank branch and connect with the designated executive to know the procedure for closing the account.
If you have any queries about Standard Chartered Bank XtraSaver Account, read the following FAQ section.
The following are the modes of banking you can use to operate your XtraSaver Account -
You need to make an initial deposit of at least AED 3,000 to open this account.
You can operate the XtraSaver Account in AED and USD currencies.
Standard Chartered XtraSaver Account is a zero-balance account, meaning that there is no mandate to maintain a certain amount of a minimum balance.
You can make up to 3 debit transactions from your XtraSaver account each month. Please note that if you make any transactions beyond the limit, you will not earn any returns on the balance.