| Minimum Balance Required | Currencies | Features | |
|---|---|---|---|
NBF - Classic Current Account
|
Minimum Balance: AED 2,500 | Currencies: AED, GBP, USD, EUR | Features: Multiple Currencies, Free Cheque Book, Free Credit/Debit Card, Free Cash Withdrawals |
With the NBF classic current account, you have access to many value-added services when you maintain a monthly average balance of just AED 2,500.
Features:
- Access to all major currencies.
- Standing instructions and remittance facilities
- An overdraft facility by arrangement
- Free ATM withdrawal from any ATM in UAE
- Cheque book facility
- Free monthly account statement
- Free international ATM/debit card
- Access to your account through multiple channels
Required Documents:
- When you visit an NBF branch, you'll need to complete an account application form. You'll also need to provide:
- A copy/copies of your passport(s), along with your original passport(s)
- Valid residence visa (for non-UAE nationals)
- Emirates ID card
- Salary certificate (in case of salary transfer accounts), OR:
- Appointment letter/copy of your contract
- Payslip (less than three months old)
- Consolidated letter from HR (for bulk account applications)
- The most recent statement of the bank account to which your salary is being transferred
- Original trade license (if you are self-employed)
** 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.
