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Bank of Baroda, India ’ s International Bank

Middle East


Deposit Products & Services

CURRENT ACCOUNT – NON-INTEREST BEARING ACCOUNT

  • Current accounts, particularly to suit to the requirement of the business, trading, companies, institutions and other corporate bodies. There is no restriction in no. of transactions.
  • Accounts for Limited Liability Companies (LLC)/ Establishment, Free Zone Companies / Establishments, Offshore companies, Professional, Partnership and Personal
  • Minimum Balance AED 7500(MAB), For BVI companies AED 50,000/- or its equivalent.
  • A/c can be opened in AED, USD, GBP and EUR. For A/cs other than BVI companies, minimum balance in the A/cs for all currencies put together should not fall below AED 15000/- or its equivalent.
  • Cheque Book Facility available
  • Mailing of statement of accounts whenever transactions take place and monthly consolidated statement through email - free of charge
  • All A/cs are opened based on KYC guidelines as prescribed by the Central Bank of UAE
  • In case of overseas companies incorporated abroad following documents are to be notarized in country of incorporation & legalized by UAE Govt./Consulate
  • Memorandum & Articles of Association
  • Board resolution regarding conduct of the account along with signature(s) of the authorized signatories
  • No Cheque Book facility will be provided. Only Bank to Bank transfers will be offered
  • Mandate facility - free
  • Free online internet banking facility.
  • All relevant documents to be produced in original for verification
  • Requirement for Opening of Current Account

  • Duly filled application for with signature card
  • Copy of registration with ecomomic department
  • Share certificates
  • Original Trade License and a photocopy of the same
  • Original Passport with photocopies of all relevant pages of the director/s/authorised signatories with residence Visa Copy
  • Chamber of Commerce Registration
  • Free Zone Registration
  • Labor Agreement( Personal Current Account)
  • Copy of the Memorandum and Article of Association along with all amendments
  • LLC Agreement
  • Certified copy of the board of directors resolution regarding conduct of the account along with signatures of the authorized signatories as per the format printed in the application form
  • Introduction of the Business Account holder
  • Two recent size photograph of the director/s/person
  • Copy Of Tenancy Contract
  • Bank account statement of existing A/c - if coporate maintains account with other Bank

  • Other Details:

  • Original documents to be produced for verification
  • Cheque book Charge AED 1 per cheque leaf
  • AED 200 per month for non maintenance of minimum balance
  • Outward return cheque charges AED 200
  • Inward return cheque charges AED 25
  • Account closing charges AED 200 if closed within 1 year and AED 100 if closed after 1 year
  • AED 50 perhalf year as half yearly service charge
  •  

    Download the application form

     

    For more details please contact nearest Bank of Baroda branch in UAE.

     
     Dear Customer If you have not still submitted your renewed KYC documents please submit it urgently to your base branch in order to avoid freezing of account........