| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
HSBC - eSaver Account
|
Minimum Deposit Required: AED 0 | Annual Return: 0% | Annual Fee: AED 0 | Choice of Terms: - | Features: Internet banking |
The eSaver Account is an online-only account. It can only be opened in UAE Dirhams and is available to UAE nationals and residents who hold a valid UAE residence visa. To encourage regular savings, no ATM card or cheque book is offered with the eSaver Account.
Interest is calculated on the daily cleared balance and paid monthly as long as there has not been more than one withdrawal made for that month.
Additional Information:
- Interest rates are dependent on the balance tier
- No minimum balance requirements
- This account can be opened in AED only
- Internet banking
| FULL BALANCE OF ESAVER ACCOUNT | INTEREST RATES APPLICABLE |
|---|---|
| Less than AED 100,000 | 0.15% |
| Starting from AED 100,000 and less than AED 1,000,000 | 0.50% |
| Starting from AED 1,000,000 and less than AED 5,000,000 | 1.00% |
| AED 5,000,000 and above | 1.05% |
Documents required:
- Original passport (for all customers)
- Valid residence visa (for non-GCC National customers only)
- Proof of UAE residence (utility bill, rental agreement or employment letter (for GCC national customers only) dated within the last two months
- Original labour card/work ID (including female applicants on father's or husband's sponsorship)
- Original trade license (for all self-employed customers)
- Salary certificate (for customers working in government or public sector companies)
- Salary transfer letter (for customers working in private sector companies)
** 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.
