A zero balance account in the UAE, as the name indicates, allows individuals to maintain a bank account without the obligation of maintaining a minimum balance. In the UAE, several financial institutions have recognised the importance of these accounts in enhancing financial convenience.

With the surge in popularity, zero balance accounts have become essential in enhancing access to banking services for a wide array of residents and expatriates in the country.

Table of Content

Best Zero Balance Saving Account UAE?
1. HSBC Esaver Account
2. ADIB Smart Banking Account
3. Emirates NBD Liv. Account
4. Commercial Bank of Dubai Esaver Account
5. FAB iSave Account
6. RAKBANK Fast Saver Online Account
Frequently Asked Questions

Best Zero Balance Saving Account UAE?

Individuals can opt for any of the following no minimum balance accounts in the UAE:

1. HSBC Esaver Account

The HSBC E-Saver account is available for residents of the UAE, including both salaried and non-salaried individuals. As an individual, you can open the zero-balance account online in the UAE. It's worth mentioning that holders of the HSBC E-Saver account cannot obtain a chequebook or a debit card.

Lets look into the primary benefits of having an HSBC E-Saver account in the UAE —

Features and Benefits	Description
Attractive Interest Rates	Individuals get high and competitive fixed interest rates on their deposits of up to 0.10%. This percentage is applicable on the entire balance and paid into the account on monthly basis.
Money Saving Strategy	Customers have the option to top up their savings via lump sum deposits or recurring monthly payments.
Zero Maintenance	Bank account holders are not required to maintain any minimum balance to keep their accounts active.
Zero Fee	The bank does not charge any fee for holding a bank account.
Easy Ways to Deposit Money	Individuals have option to deposit their money via three different ways- online money transfer, telegraphic transfers, and cheque deposit machines
Money Transfers in Multiple Currencies	Customers can transfer their money locally and internationally in multiple currencies.
Convenient Withdrawals	The bank allows customers to withdraw their money through online banking and telegraphic transfers.

Eligibility Criteria and Documents Required

Eligibility Criteria

Documents Required

The applicant must be a UAE resident.

For Non-HSBC Sole Account Applicants

Original passport (for all customers)
Valid UAE residence visa (for non-GCC national customers only)
Original Emirates identification card (for all customers)
Proof of UAE residence in the form of either a utility bill/rental / lease agreement/title deed and employment letter

For Non-HSBC Joint Account Applicants

Original passport (for all customers)
Valid UAE residence visa (for non-GCC national customers only)
Original Emirates identification card (for all customers)
Proof of UAE residence in the form of either a utility bill/rental/lease agreement/title deed and employment letter

Click here to Open HSBC Esaver Account

2. ADIB Smart Banking Account

Abu Dhabi Islamic Bank offers a Smart Banking account for all individuals aged above 18 years. It allows residents of the UAE to open a zero balance account, irrespective of their employment status. No matter if you are a salaried employee, homemaker, or even a self-employed individual, this ADIB account offers you the convenience of effective financial management by keeping your money safe in the bank account.

Mentioned below are the detailed key advantages of the ADIB Smart Banking account —

Features and Benefits	Description
Bonus Credit Upon Salary Transfer	Customers can enjoy salary bonus if they transfer their salaries to an ADIB account.
Attractive Profit Rates	ADIB offers competitive interest rates on savings.
Enjoy Offers and Discounts on Smartdeals	Individuals can avail of more than 1500 deals ad exclusive discounts via the Smartdeals application.
Free Money Transfer	Customers can make 1 free domestic and international transfer every month.

Eligibility Criteria and Documents Required

Eligibility Criteria

Documents Required

For Income-based Applicants

The minimum salary of the applicant must be AED 5000 per month
The account must be entirely for personal use.
The applicant must be either a salaried individual or business owners partner.

For Non-income-based Applicants

Applicants who are house wives and hold a house wife visa status.
The account must be used for personal use only.
In case of a student, the minimum age of the applicant must be 24 years old and the individual must have a student ID.

Valid Emirates ID (applicable to both UAE nationals and residents)
Valid UAE residence visa
Original passport

Click here to Open ADIB Smart Banking Account

3. Emirates NBD Liv. Account

Emirates NBD Liv. bank account levels up your financial management knowledge by teaching you smarter money control. Using this account is easy and convenient as it has a friendly user-interface.

Given below are the primary advantages of using this zero balance account in the UAE:

Features and Benefits	Description
Smart Savings	Individuals can save smart with the easy automated savings feature.
Zero Paperwork	There is no need for paperwork. Individuals can seamlessly access banking facilities online without any hassle.
Competitive Interest Rates	Bank account holders can earn up to 2% interest rates annually and track their progress on the bank’s app conveniently.
Early Learning About Money Management	The liv. account is specifically curated for children and teenagers
Access to Free Cheque Book	On-demand cheque book facility is available for Emirates NBD Liv. Account holders. Those who earn more than AED 10,000 per month receive a free cheque book for one year.
Easy and Quick Payments	With this account, individuals can simply add beneficiaries and make instant money transfers.
24/7 Customer Service Support	The customer support team is available round the clock for relevant assistance.
Ensures Security	The bank guarantees multi-layered authentication for transactions and accounts.

Click here to Open Emirates NBD Liv. Account

4. Commercial Bank of Dubai Esaver Account

The Commercial Bank of Dubai (CBD) ESaver saving account in UAE allows customers to open their accounts in a few minutes. This account helps in earning high returns with ease and flexibility. The following are the key features and benefits of this zero balance account in the UAE:

Features and Benefits	Description
Zero Maintenance	The bank does not ask for maintaining a minimum account balance or does not charge any maintenance fee to keep the account active.
Attractive Interest Rates	Customers can earn up to 1.25% interest rates on their monthly average balances.
Online Banking Convenience	Individuals can access their bank accounts, fetch associated information, and even download monthly statements swiftly with the online banking service.
Instant Account Opening	Existing CBD customers can instantly open an Esaver account through the online banking channel.
Easy Money Transfers and Payments	The bank allows up to 3 debits every month with this account.

Eligibility Criteria and Documents Required

Eligibility Criteria	Documents Required
The applicant must either be a UAE national or a UAE resident. The minimum age of the applicant must be 18 years old.	Valid Emirates ID Valid passport Valid residence visa

Click here to Open CBD Esaver Account

5. FAB iSave Account

FAB iSave Account is one of the best zero balance accounts in the UAE. Individuals who hold an account ear higher interest rates on their savings over the years. The following table lists all the features and benefits of the zero balance account in the UAE:

Features and Benefits	Description
Zero Maintenance	FAB iSave account is a zero balance account in the UAE, which means customers are not required to maintain a minimum balance to keep their account active.
Unlimited Withdrawals	Individuals can make unlimited cash withdrawals with this bank account.
Currency	The FAB iSave bank account is available in AED currency.
Attractive Interest Rates	Customers can earn an interest rate of 5.25% per year on new funds. (It is applicable on funds deposited from 1st May 2023 to 31st December 2023.
Instant Account Opening	Applicants can quickly open bank account via the online banking service.
Prompt Customer Service Support	The customer support team is available round the clock for assistance.

Eligibility Criteria and Documents Required

Eligibility Criteria	Documents Required
Applicants must be UAE residents. Individual applicants are eligible to open an account.	Valid Emirates ID Valid residence visa

Click here to Open FAB iSave Account

6. RAKBANK Fast Saver Online Account

The RAKBANK Fast Saver Online account is a zero balance account, which helps customers to gain high interests on their savings. Check out the features and benefit of using the zero balance account in the UAE below:

Features and Benefits	Description
Availability of Currency	The account is available in USD and AED currency.
Zero Maintenance	Customers are not required to pay any fee even if they do not have any amount in their accounts.
Issuance of Debit Card	RAKBANK offers a complimentary debit card upon opening an account.
Online Monthly Statement	Individuals can easily get their monthly bank statements online on their registered email ID.

Eligibility Criteria and Documents Required

Eligibility Criteria	Documents Required
Only individual applicants are allowed to open an account.	Valid Emirates ID Note: The bank may require other documents according to its requirements.

Click here to Open RAKBANK Fast Saver Online Account

Frequently Asked Questions

Yes, expats can open zero balance accounts in the UAE provided they have relevant ID proof.

As per the definition, zero balance accounts don’t require you to maintain any minimum balance. However, a few banks and financial institutions may ask you to transfer your salary to your account to keep it a zero balance one.

Some of the top zero balance accounts across the UAE are —