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Zero Balance Account in UAE

Best Banks for Zero Balance Accounts in UAE

A savings account is one of the most effective ways to encourage the common man to save a part of their earnings. Generally, to open a savings account in the UAE, the account holder needs to meet specific criteria. For example, the individual might be asked for proof of income, a salary certificate, etc. Many banks in the UAE also require the person to maintain a certain amount in their account for it to be operational and active. However, certain banks in the country do not have this as a mandatory criterion. It means that account holders can opt for a zero-balance account.

Let us now understand what a zero-balance account is and which banks in the country offer such a facility.

What is a Zero-Balance Account?

A Zero Balance Account is precisely what the words say – an account that is active even when the balance is zero, where the holder doesn’t need to maintain a minimum balance. In such a case, the person can operate it without attracting any penalties from the bank for the zero balance.

The most significant benefit is that the individual is not required to maintain any balance and can exhaust all the money if needed. There’s no stress of being levied a maintenance charge. It is a wonderful option for salaried people, students, etc. With digital technology advancements, people can operate Net banking and mobile banking.

Top Banks in UAE Offering Zero Balance Accounts

Mashreq Bank’s Happiness Account

This is one of the biggest private-sector banks in the country. The Al-Ghurair Group started this bank in 1967 and today offers individual and commercial services. It has a global footprint, too, including in countries like the US, UK, India, Egypt, Kuwait, Bahrain, Qatar, and more.

The bank offers the Mashreq Happiness Account, which is a zero-balance account.


  • It can be opened online.
  • Salaried people can avail net and Mobile Banking facilities.
  • Zero balance, 0 monthly and annual maintenance charges to keep the account active.
  • Free debit card facility.
  • Local and International transactions and remittances can be done using the Mashreq mobile app or online banking facility.
  • The first checkbook and an international debit card are free.
  • For every 5 monthly online transactions or payment of utility bills, AED 25 worth of Salaam Points can be earned. These points can be redeemed subject to certain conditions for travel, shopping, etc.
  • A Welcome Bonus of up to AED 2,000 can be earned.
  • QuickRemit can be used for sending money abroad to about 35 countries.


  • Salaried people with a minimum of AED 10,000 salary.
  • Monthly salary transfers need to happen to get the benefits.
  • Expatriates and UAE nationals are eligible for the benefits.


First Abu Dhabi Bank’s iSave Account

First Abu Dhabi Bank, or FAB, was established in 2017 after the merger between the First Gulf Bank (FGB) and the National Bank of Abu Dhabi (NBAD). FAB is UAE’s biggest bank and is headquartered in Abu Dhabi. It has branches across five continents of the world.


  • The minimum salary required to open iSave is zero.
  • There are zero monthly fees and zero withdrawal/transaction limitations.
  • There are no applicable opening charges.
  • Holders enjoy interest rates up to 2% on the average monthly balance maintained.
  • No limitations on withdrawals and transactions from this account.
  • It can be opened using the FAB Mobile App.
  • Upon opening the account, account holders can get a credit card with their Emirates ID.


  • Existing First Abu Dhabi Bank account holders can only open the iSave Account. They can use their banking app or online banking to open it.
  • Even though there is no requirement for monthly salary credit to the account, the applicant still has to submit their passport copy and Residence Visa.


RAK Bank’s Fast Saver

The National Bank of Ras Al Khaimah, or the RAK Bank, was set up in 1976, making it one of the few banks to operate from yesteryears. It is a member of the UAE Banking Federation of UBF and has always strived to establish best practices in the banking industry in the UAE.


  • This is an online Account.
  • Zero maintenance charges and zero balance.
  • 2 currencies are permitted – AED and USD.
  • The interest rate depends on the currency opted for by the applicant. The maximum interest of up to 0.5 % per annum can be earned on the account for AED and up to 0.25% for USD.
  • Every month, one-time cash withdrawals and 5 transactions for utility payments are allowed.
  • Zero initial deposit.
  • No rewards are given, but account holders get a free debit card with the account.


  • People new to the bank can also open a Fast Saver account.


ADIB Smart Banking Account

ADIB is the world’s fourth-largest Islamic Bank. It has its headquarters in Abu Dhabi and has been operational since 1997. It is a Public Joint Stock company.


  • It can be opened instantly using the online method.
  • A personalized debit card is given free on opening.
  • For every AED saved in the account, holders can earn profit.
  • ATM withdrawals from ADIB, UAE, are free.
  • Use the ADIB Mobile App to access the account.
  • Earn rewards by referring to friends and family.
  • No penalty for non-maintenance of balance.
  • Get a smart-banking debit card.
  • One free transfer, locally and internationally, is allowed per month.
  • Every time individuals transfer their salary, spend or send money from the Smart Account, they win prizes.
  • There are 1,500+ smart deals and discounts while using the Smartdeals App.


  • UAE residents above 18 years of age.
  • For income-based individuals, a minimum salary of AED 5,000 is applicable.
  • Under the non-income-based group, students aged 18 to 24 years with their Student ID and housewives with their respective visas are also eligible.


Commercial Bank of Dubai’s ESaver Account

The Commercial Bank of Dubai, CBD, is a modern banking organization with Sharia-compliant models. It was founded in 1969 and is the seventh-largest bank in the country today.


  • Zero maintenance charges and minimum balance.
  • Existing CBD customers can open ESaver through CBD online banking.
  • Non-CBD customers can also apply but need to contact the bank.
  • Account holders can earn up to 1.25% interest on the monthly average balance.
  • Holders can conduct up to three monthly debit transactions, including payments, transfers, etc.
  • Statements and balances can be checked online.


  • UAE residents, nationals, as well as expatriates can apply.
  • Minimum 18 years of age.
  • The minimum salary requirement for the ESaver is AED 5,000.


HSBC’s Esaver Account

The British Bank of the Middle East, or BBME, was acquired by the Hong Kong and Shanghai Banking Corporation, or HSBC, in 1959. Ever since, HSBC has worked towards creating a sustainable finance, operations, and community model.


  • Esaver is a zero-balance account for all residents of the UAE.
  • Zero maintenance charges.
  • Money withdrawal from Esaver is simple and convenient. Managing money can be done online or through telegraphic transfers.
  • No monthly charges.
  • Account holders can top-up their savings by either making recurring monthly payments or through a lump sum deposit.
  • Money transfers can be done in multiple currencies, both within the country and abroad.
  • Depositing money in the Esaver is easy – through online banking from an HSBC account in the UAE, depositing cheques at the Cheque Deposit Machines, or through telegraphic transfers.


  • Only UAE nationals and residents with valid UAE residence visas are eligible for this facility.


Emirates NBD’s Liv. Account

Emirates NBD was formed when Emirates Bank International, or EBI, merged with the National Bank of Dubai, or NBD, in 2007. Since then, the institution has become one of the region’s most valued banking service providers.


  • It can be opened using Liv. App and scanning the Emirates ID.
  • Zero balance and no maintenance charges.
  • The Liv. App can be used to manage the account.
  • An international debit card comes with an account.
  • Individuals can get up to 50% discount on leisure, dining, and entertainment expenses.
  • Up to 1.5% interest can be earned on balance per annum.
  • Account holders can easily transfer funds to their Liv. Accounts daily.
  • People can use the app to open an account, transfer their salary, and open their Liv. credit card on the app and avail offers and deals.
  • Other discounts include 25% off on movie tickets, AED 200 discount on flight tickets, a 30% discount on Careem rides, and more.


  • Only residents of the UAE are permitted this facility.
  • The individual should be at least 18 years old.



FeaturesMashreq Bank’s Happiness AccountFirst Abu Dhabi Bank’s iSave AccountRAK Bank’s Fast SaverADIB Smart Banking AccountCommercial Bank of Dubai’s ESaver AccountHSBC’s Esaver AccountEmirates NBD Liv. Account
Mainetenance ChargesZeroZeroZeroZeroZeroZeroZero
Minimum Salary RequiredYesNoNoYesYesNoNo
Application can be made online?YesYesYesYesYesYesYes
Multiple CurrenciesNoNoYesNoNoYesNo
Only for existing customersNoYesYesNoNoNoNo


You don’t have to keep a minimum balance in a zero-balance savings account because it requires no minimum balance. Of course, unlike a regular savings account, no penalties are applied to your account if your balance drops to zero. These accounts are incredibly simple to keep up with. Several banks in the UAE provide accounts with zero balances. The article above listed a few prestigious banks.

Frequently Asked Questions

Who is allowed to open a Zero Balance Account in the UAE?

In most cases, UAE nationals and residents with a valid Residence Permit can avail of this facility. However, banks may have specific rules in this matter.

You are requested to confirm with the bank before proceeding.

Are any processing fees charged in the UAE to open a Zero Balance Account?

Most banks do not charge a processing fee. However, checking with the individual bank for more details is best.

Do banks offer interest on Zero Balance accounts in the UAE?

Some banks offer interest rates while others do not. Kindly confirm with the bank before finalizing your decision.

What is the welcome bonus offered by the Mashreq Happiness Account if I earn a salary of AED 10,000?

If you earn a minimum salary of AED 10,000, you will get a minimum bonus of AED 500. For a welcome bonus of AED 1,000, your minimum salary should be AED 25,000.

When is the joining bonus credited to Mashreq Happiness Account?

The welcome bonus takes about sixty days to get credited. However, remember that if the salary transfer is inconsistent or stops getting credited to the account within a year of opening it, the welcome bonus will be debited.

Will I get a debit card with an iSaver account?

The iSaver does not come with a debit card.

I do not have an account with RAK Bank. Can I open a Fast Saver Account with the Bank?

No, you cannot open the account now, as the bank has discontinued it. However, existing Fast Saver account holders are still being served by the Bank.

Can the ADIB Smart Banking Account be used for commercial purposes?

No, this account is only for personal use.

I am an existing customer of ADIB. Can I also open the Smart Banking Account?

Yes, even existing customers can open a zero-balance account with ADIB.

What currencies are available for the First Abu Dhabi Bank’s iSave Account?

This Account can be operated only in AED.

What are the conditions applicable for HSBC’s Esaver Account?

The Esaver does not come with a Debit Card or a Cheque Book. Also, only one debit is allowed on the account. In case of more than one debit in a month, no interest is earned in that month.

How can I apply for an HSBC eSaver account?

If you are an existing HSBC customer, you need to log into the site for online banking, and if you are new to HSBC, you need first to confirm your eligibility, get approval and then apply online.

What are the charges for using the Liv. App?

There are no charges for using the app for utility payments. However, if you transfer funds to another UAE bank, AED 1 is charged for each transaction. AED 4 is charged for every transaction for a fund transfer to banks abroad. Printed statements are charged at AED 15 (picked-up) and AED 25 for delivered statements. E-statements are available free for download.