| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
NBF Savings Account
|
Minimum Balance Required: AED 2,500 | Annual Return: 0.25% | Features: Multiple Currencies |
Get round-the-clock access to your savings while you earn higher interest
Features:
- Available in AED and USD
- No fall below fee
- Combined benefits of savings and deposit account
- One withdrawal allowed per month without affecting the interest earned
- Access your account through multiple channels
- Unlimited ATM withdrawals at any Bank in UAE
- Interest rate - Upto 2% per annum
- Minimum Salary - Not applicable
- Initial deposit - Not required
- Original passport
- Emirates ID card
** 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.
