| Minimum Balance Required | Currencies | Features | |
|---|---|---|---|
Standard Chartered Bank - Current Account
|
Minimum Balance: AED 3,000 | Currencies: AED, USD | Features: Multiple Currencies |
Features:
- Transaction convenience: Banking made easy, with no limits on deposits and withdrawals.
- First Free Cheque book.
- Available in multiple currencies.
- Internationally recognized debit card.
- Full range of services.
- Higher withdrawal limits
- Local bill payments: Access all major utility providers such as DEWA, Etisalat & Du via online banking for easy payments of your bills.
Eligibility:
- Nationality: UAE nationals & Residents
- Minimum age of 21 years old
Required Documents:
- Passport, Emirates ID & Resident Visa
** 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.
