Emirates NBD Current Account
The current accounts offered by Emirates NBD offer customers a wealth of services and features that are meant to make banking with current accounts easier for them. These accounts can be opened by individuals or by proprietorships, partnerships or companies in formation. Some of the facilities that these accounts offer are accounts that can be maintained in any currency and those that are also compliant with the rules of Islamic Banking. While some of these accounts may come with free debit cards and overdraft facilities some of these may have prerequisites to join.
Types of Emirates NBD Current Accounts
Emirate NBD offers five types of current accounts that differ based on the facilities they offer and the eligibility criteria for each of these accounts.
Standard Current Account
Special Current Account
Islamic Current Account
Mudaraba Call Account
Call Deposits Account
The Standard Current Account can be opened by UAE nationals, people holding valid residence visas for the UAE and GCC (Gulf Cooperation Council) nationals. These accounts can be opened by companies as well. They require prior approval and also can be opened in any approved foreign currency. They offer account holders features like cheque book facilities, free international debit cards and overdraft facilities. The account can be opened as an individual account or as a joint account.
The Special Current Account is available only to individuals, partnerships and sole proprietorships. Companies under formation cannot apply for this account. Individuals can open this account as a joint account too. It too is open to residents of UAE, UAE nationals and GCC nationals and offers facilities like cheque books, free debit cards, account statements and overdraft facilities. It also offers access to 24-hour phone banking and point-of-sale terminals.
The Islamic Current Account is a Sharia compliant account that offers current account facilities to individuals and companies based on the rules of Islamic banking. It also offers monthly statements, free debit cards and phone and online banking services. This account however, requires a minimum balance of AED 3,000 and is available only in AED and USD.
The Mudaraba Call Account is also a Sharia compliant account that requires a minimum investment of AED 100,000. It can be held either in AED or in USD and is not available to individuals. The accounts compliance with the Sharia laws is governed by the Sharia’ah Supervisory Board which consists of some very eminent members.
This is an account that is best suited to companies and offers the facility to deposit and hold funds in currencies like AED, USD, EUR, GBP, etc. This account comes with no fixed tenure and does not offer cheque books or debit cards and the interest paid in this account is calculated based on the daily closing balance.
Why choose Emirates NBD Current Accounts?
The current accounts offered by Emirates NBD ensure that every customer has a current account that suits them the most. If you are looking for a current account compliant with Islamic Banking than you can choose the Islamic current account. It also offers current account that pay profits on the funds held in them. Apart from that, these account are available to citizens of the UAE and GCC and also to residents of UAE. They can even be opened by companies which means that these accounts can reach out to everyone.
Since each of the current accounts offered by this bank come with their own set of facilities and features, it would be best of you went through each account at length before deciding on which one suits your needs the most.