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Saving and Deposit Accounts

Overview

Whether for a short or long term, it makes sense to make your surplus business cash work for you.

CBD Business Banking offers a choice of business savings and deposit accounts online that help customers to separate their surplus business funds from their day to day business finances and achieve a positive return.

My Business Saving Account is available in AED and other currencies (USD, GBP, EURO, JPY, CNY )

Features and Benefits

  • Feature-rich business bank account
  • No account maintenance fees providing a minimum monthly balance of just AED 25,000 is maintained
  • Available in both Conventional and Islamic Savings Account with competitive interest / profit paid out rates
  • Interest / Profit Rates are paid out semiannual basis based on Minimum Monthly Balance during the last 6 months
  • Choice of 6 account currency denominations 
  • Branch-based client relationship management
  • Access to Business Banking Zones and fast track Business Banking tellers
  • Free online banking account enquiry service, with the option to upgrade to a comprehensive interactive online banking service
  • Free mobile banking service
  • Free SMS transaction alerts
  • Dedicated Business Banking call Centre
  • Dedicated self-service phone banking
  • Competitive rates on money transfers, remittances and foreign currency exchange
  • Preferential pricing on a range of additional business banking and insurance products and services
  • Optional WPS salary processing service
  • Access to website-based business advisory services and business planning toolkits through Resource Centre

Eligibility


          Applicable for all type of companies with annual sales turnover up to AED 250 Million


Fees and Charges

List of charges Requirements / Charges
Currency AED, USD, GBP, EURO, JPY, CNY
Minimum monthly average balance AED 25,000 or equivalent in foreign currency
Monthly Service charge for not maintaining average balance AED 250
Standing Orders Per Instruction
Setup AED 50
Execution AED 15
Failure due to insufficient funds AED 50
Amendment AED 15
Remittances Incoming Per Transaction
Local within UAE AED 1
International

AED 20
USD 10
EURO 10
Remittances Outgoing Per Transaction

ManualElectronic
Local within UAE AED 50 AED 40
International outside UAE AED 100 AED 75
Within CBD Account to Account Transfer AED 60Free
Managers Cheques/Demand DraftManualElectronic
Managers Cheques - per cheque AED 15 AED 15
Demand Drafts - per cheque AED 15AED 15
Stopped demand draft/managers cheque AED 50 AED 50
SMS Fees and Charges
Setup2 months free service from registration date
Starting from third month
5 messages free per month
Above 5 messages
AED 0.20 per message
Cash Deposit
Over the counter - Teller transactions*

AED 25 per transaction


AED 250 per transaction for deposit transaction over AED 250,000 
Through Cash Deposit Machine
 Free
Cash Withdrawal
Over the counter - Teller transactions
 Up to 10 Free withdrawals per month. Each additional withdrawal AED 10 per transaction
CBD ATM Free
CBD i-Business (Business Online Banking Services) My Business Savings Account
First time set up charges for enquiry only customer Free
Monthly service charge for enquiry only customerFree
First time set up charges for transactor customerAED 400
Monthly service charge for transactor customerAED 200
Hard Token charges First 2 Tokens are free, each additional Token AED 100
Soft Token chargesFirst 2 Tokens are free, each additional Token AED 75 per Token
Training supportFirst site visit is free
AED 250 for subsequent visit for Dubai and Sharjah regions
AED 400 for all other subsequent visit for all other regions
 

* Additional teller transactions will be charged once monthly quota limits are exceeded
** All fees and charges are applicable for 5% VAT

Disclaimer

All fees and charges mentioned are subject to change from time to time at the sole discretion of Commercial Bank of Dubai without prior notification. Charges for services not indicated in this List of Fees and Charges are available on request. Additional expenses, e.g. postage, cable, courier, fax, legal fees, etc. will be charged



Required Documents

  • National ID or valid passport with UAE residence visa and Emirates ID of all signing authorities and shareholders, if applicable
  • Valid legal and constitutive documents (i.e. Trade License, Certificate of Commercial Registration, Free Zone Certificate of Incorporation, Memorandum of Association, Partnership Agreement) as applicable
  • Power of Attorney or Board Resolution, if applicable
  • Proof of Address
  • Details of Ultimate Beneficial Owners
  • Bank Reference Letter and Company Profile, if applicable
  • No requirement for audited financial statements