Opening a bank account in the UAE is a significant step toward effective financial management, whether you’re a local resident or an expatriate. First Abu Dhabi Bank (FAB), the result of the merger between the National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) in 2017, is now the largest bank in the UAE, known for its reputable services and extensive range of account options.
In this guide, we’ll walk you through the process of opening an account with FAB, the types of accounts available, and everything else you need to know to get started.
Why Choose NBAD?
NBAD is well-known for its excellent customer service and diverse range of banking products. Whether you’re looking for a savings account, a current account, or something more specialized, NBAD has options that cater to different financial needs. With competitive interest rates, easy online banking, and a user-friendly mobile app, it’s a solid choice for your banking journey in the UAE.
Types of Accounts Offered
Before you dive into the application process, it’s essential to understand the types of accounts available:
1. Savings Accounts
- Life Savings Account: No minimum balance and no monthly fee. Ideal for those who want to save without worrying about maintaining a balance.
- SmartSaver Account: Requires a minimum daily balance of AED 3,000, offering better interest rates and no monthly fees.
- MaxiSaver Account: Designed for long-term savers, requiring an average monthly balance of AED 50,000 and offering the highest savings rate with a AED 50 monthly fee.
2. Current Accounts
- Everyday Current Account: A basic checking account with a minimum balance of AED 3,000 and a AED 10 monthly fee.
- Business Current Account: For businesses requiring multiple debit cards and financial solutions, with a minimum balance of AED 5,000 and a AED 50 monthly fee.
- Liv. Account: A digital banking option with no minimum balance requirement and free for the first year, catering to the tech-savvy customer.
How to Open Your NBAD Account
You can open your NBAD account in two simple ways: through the mobile app or by visiting a branch. Let’s explore both options.
Opening an Account via the Mobile App
- Download the App: Start by downloading the NBAD mobile app from the App Store or Google Play.
- Emirates ID: Ensure you have your Emirates ID handy, as it’s a crucial requirement.
- Enter Your Information: Open the app and enter your registered mobile number or email address.
- Fill Out the Application: Complete the application form with your personal details.
- Submit Your Application: Once you’ve filled everything out, submit your application. You should receive confirmation and approval within 24 hours.
Opening an Account at a Branch
If you prefer a more personal touch or need assistance, you can open your account by visiting an NBAD branch. Here’s what you need to bring:
- Identification: A passport, ID card, or Emirates ID that’s at least 6 months old.
- Age Requirement: You must be at least 18 years old to open an account.
- Proof of Income: Bring your salary certificate or other proof of income.
- Account Opening Form: Obtain this from the bank’s staff upon arrival.
- Opening Fee: Be prepared to pay any applicable account opening fees.
After Opening Your Account
Once your account is open, you can enjoy a range of services such as online banking, mobile banking, and ATMs throughout the UAE for easy access to your funds. Make sure to set up your online profile to manage your account conveniently from anywhere.
Frequently Asked Questions (FAQs)
What is the minimum balance for a NBAD MaxiSaver account?
To maintain a MaxiSaver account, you need an average monthly balance of AED 50,000.
How do I apply for a NBAD bank account?
You can apply online through the NBAD mobile app or visit a branch with the necessary documents, including identification and proof of income.
Which bank in the UAE offers the highest interest rate?
The NBAD MaxiSaver account provides some of the highest interest rates among UAE banks, but it does require maintaining a minimum balance.
How can I open a zero-balance account with NBAD?
Visit the NBAD website, select the Life Savings Account type, and fill out the required information on the application form.
Opening an account at NBAD is a straightforward process, whether you choose the convenience of the mobile app or prefer the traditional route of visiting a branch. With a variety of account options available, you can easily find one that fits your financial needs. So why wait? Take control of your finances today and open an NBAD account in the UAE!
