In the UAE’s busy financial world, ‘zero balance accounts’ have become popular because they are easy to use and accessible. These special bank accounts don’t require you to keep a minimum amount of money, so you can have an account without worrying about maintaining a certain balance. It’s a flexible way to manage your money, making banking simpler and more user-friendly, especially if you’re new to managing finances. These accounts are helpful for anyone looking for a straightforward banking experience in the UAE.

In 2024, the UAE’s banking sector has embraced this concept, offering a variety of zero-balance accounts tailored to meet the diverse needs of residents and expatriates.

What is a Zero Balance Account?

A zero-balance account is a simple type of bank account you can open without needing to keep a specific amount of money in it at all times. This is especially helpful for people who only sometimes have a steady flow of income or who don’t want to be forced to leave a certain amount of money in their account. These accounts are popular in the UAE because they are easy to use and make banking more accessible for everyone. They’re great for anyone who wants a bank account’s convenience without worrying about maintaining a minimum balance.

Benefits of Zero Balance Account in UAE

A zero-balance bank account in the UAE has several noteworthy advantages, especially for beginners. Let’s break each of them down:

  • Easy and quick setup: Opening a zero balance account is mostly an online process. You can easily sign up on the bank’s website or mobile app, often instantly.
  • Cost-effective banking: These accounts typically offer free online banking. Plus, you get several transactions each month without any charges.
  • Rewards and cashback: Banks often include attractive rewards with these accounts. You could enjoy cashback offers and special discounts on food, shopping, and leisure activities.
  • Higher interest rates: A significant perk is the possibility of earning more interest on your savings compared to other accounts.
  • Peace of mind: Perhaps the biggest benefit is the stress-free aspect. With a zero balance account, you don’t have to worry about keeping a certain amount in your account to avoid fines.

Opting for a zero-balance bank account in the UAE is a smart move. It’s user-friendly, cost-effective, and has various benefits that make banking a hassle-free experience.

Top Zero Balance Accounts in UAE

ADIB Smart Banking Account

Notable Features:

  • Easy salary benefits: Transfer your salary to an ADIB account and get a bonus!
  • Attractive interest rates: ADIB provides competitive interest rates for your savings.
  • Exclusive deals: Access over 1500 deals and discounts with the Smartdeals app.
  • Free money transfers: Enjoy one free domestic and international transfer per month.

Eligibility and Necessary Documents:

For income-based applicants:

  • Salary requirement: Your monthly income should be at least AED 5000.
  • Account use: The account is strictly for personal use.
  • Applicant type: You can be a salaried person or a partner in a business.

For non-income-based applicants:

  • Housewives: If you’re a housewife with a housewife visa.
  • Students: You must be below 24 years in age and have a student ID.
  • Account Use: The account should only be for personal use.

Documents needed (for both types):

  • Emirates ID: A must for both UAE nationals and residents.
  • UAE Residence Visa: If you’re a resident.
  • Passport: Your original passport is required.

HSBC Esaver Account

Notable Features:

  1. High fixed interest rates: With HSBC Esaver Account, you earn a competitive interest rate of up to 0.10% on the total money in your account. This interest is added to your account every month.
  2. Flexible deposits:
    1. Lump Sum Deposits: You can add a lot of money to your account at once.
    2. Recurring Payments: Set up automatic monthly deposits for consistent savings.
  3. No minimum balance required: You don’t have to worry about keeping a certain amount of money in your account. It stays active regardless of the balance.
  4. No account fees: This bank won’t charge you just for having an account with them.
  5. Multiple deposit methods:
    1. Online Money Transfer: Easily transfer money from another account over the internet.
    2. Telegraphic Transfers: Send money electronically from one bank to another.
    3. Cheque Deposit Machines: Deposit cheques using a special machine at the bank.
  6. Flexible money transfers:
    1. Local and International Transfers: Send money within your country or overseas.
    2. Multiple Currencies: You can deal with different currencies.
  7. Easy withdrawals:
    1. Online Banking: Transfer money from your account using the bank’s website or app.
    2. Telegraphic Transfers: Move your money electronically to another bank.

Eligibility and Necessary Documents:

Eligibility criteria:

  • You must be a UAE national or a resident holding UAE residence visas.

Documents required to open a Esaver Account:

For Non-HSBC Sole Account Applicants:

  • Original Passport: Every customer needs to provide this.
  • Valid UAE Residence Visa: This is required only for non-GCC nationals.
  • Original Emirates ID Card: All customers must have this.
  • Proof of UAE Residence: You can show this with a utility bill, rental/lease agreement, title deed, or employment letter.

For Non-HSBC Joint Account Applicants:

  • The document requirements are the same as for sole account applicants.

Emirates NBD Liv. Account

Notable Features: 

  • Automated savings: Easily save money with the automatic savings feature without hassle.
  • Paperwork-free: Access banking services online seamlessly, without any paperwork.
  • Earn interest: Get up to 2% annual interest on your account; track it using the bank’s app.
  • For youngsters: The Liv. the account is designed especially for children and teenagers.
  • Cheque book access: Emirates NBD Liv. Account holders can request a cheque book on demand.
  • Free cheque book offer: Earn over AED 10,000 monthly. Get a free cheque book for a year.
  • Easy money transfers: Add beneficiaries easily and make instant transfers.
  • 24/7 support: The customer support team is always available for any assistance.

Eligibility and Necessary Documents:

  • Get your Emirates ID: Make sure you have your Emirates ID.
  • Obtain a UAE mobile number: You need a valid one from the UAE.
  • Download the App: Find and download the required app via Android or IOS on your mobile device.
  • Simple steps to follow: The app guides you with easy-to-follow steps.
  • Easy process: The process is quick and straightforward.
  • No paperwork: Enjoy a hassle-free experience without any paperwork.
  • No branch visits or queues: No need to visit any physical branches or stand in lines.
  • Register on the App: Complete your registration through the app.
  • Free VISA debit card: Once registered, you’ll receive a free VISA debit card.
  • Doorstep delivery: Your debit card will be delivered right to your doorstep.

Commercial Bank of Dubai Esaver Account

Notable Features: 

  • No minimum balance: With the Commercial Bank of Dubai Esaver Account, you don’t need to keep a certain amount in your account; the bank won’t ask for it.
  • Free account maintenance: There are no fees for keeping your account active.
  • Earn interest: Get up to 1.25% interest on the average balance you maintain each month.
  • Easy online banking: Access your account, get information, and download statements easily online.
  • Quick account opening for CBD customers: If you’re already a customer, you can open an Esaver account instantly online.
  • Limited debits allowed: You can make up to 3 monthly withdrawals or debits from your account.

Eligibility and Necessary Documents:

  • Nationality and residence:
    • Must be a UAE national or a resident of the UAE.
  • Age requirement:
    • It would help if you were at least 18 years old.
  • Required documents:
    • A valid Emirates ID.
    • Your current passport.
    • A valid residence visa in the UAE.

FAB iSave Account

Notable features: 

  • Zero balance feature: The FAB iSave account in UAE requires no minimum balance, keeping your account active without extra costs.
  • Unlimited withdrawals: Enjoy the freedom of making as many cash withdrawals as you need.
  • Currency: This account operates in AED, aligning with local financial practices.
  • Attractive interest rate: Earn a notable 5.25% interest per year on new funds deposited between May 1st 2023 to March 31st, 2024.
  • Easy online opening: Open your account swiftly and conveniently using the online banking service.
  • 24/7 customer support: Get help anytime with a customer support team available around the clock.

Eligibility and Necessary Documents:

  • Who can apply:
    • If you live in the UAE, you’re eligible.
    • This opportunity is for individual applicants.
  • What you need to provide:
    • Your Emirates ID: It’s your official identity card in the UAE.
    • Your residence visa: This proves you’re legally living in the UAE.

RAKBANK Fast Saver Online Account

Notable features: 

  • Currency availability: You can open an account with RAKBANK in either USD or AED currency.
  • No maintenance: No fees are charged, even if your account balance is zero.
  • Debit card issuance: You’ll receive a free debit card when you open an account.
  • Monthly statement online: You can conveniently access your monthly bank statements sent to your registered email address.

Eligibility and Necessary Documents:

  • To open an account, you must be an individual.
  • Get a valid Emirates ID. Remember that the bank might ask for additional documents per their specific needs.


  1. Can Expatriates Open Zero Balance Accounts in the UAE? Yes, expatriates can open these accounts with relevant ID proof.
  2. Is Salary Transfer Mandatory for Zero Balance Accounts? No, it depends on the bank’s policy.
  3. Are There Any Accounts for Minors? Some banks allow minors to open zero-balance accounts under guardianship.

Final Words

Zero balance accounts in the UAE offer convenience, flexibility, and financial inclusivity. Whether you’re an expatriate, a housewife, or a student, these accounts cater to a broad spectrum of needs, making them an ideal choice for anyone looking to simplify their banking experience in 2024.

About Author

Rizalie Gumalog

About Author

Rizalie Gumalog is a digital storyteller known for her eclectic writing styles that captivate audiences. With her almost 3 years of experience, she crafts engaging articles that build meaningful connections between brands and their audience. Drawing inspiration from nature and music, Riza is committed to creating enriching experiences and is always ready for new digital explorations.