| Minimum Balance Required | Currencies | Features | |
|---|---|---|---|
Commercial Bank of Dubai - Foreign Currency Account
|
Minimum Balance: AED 0 | Currencies: USD, EUR | Features: Multiple Currencies |
CBD Foreign Currency Accounts in major currencies offers you the convenience and flexibility to manage your money. And now, you can open a foreign currency account in just a few clicks through the CBD Mobile app.
Features
- Quick and easy account opening process
- Foreign currency account available in most major currencies (EUR, CAD, USD, GBR, AUD, CHF,SEK)
- Free online and mobile banking
- SMS alerts
Eligibility Criteria
If you are UAE National or UAE resident and minimum 21 years of age
Required Documents
- National ID or valid passport, residence visa and Emirates ID
- Completed account opening form
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
