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 5000, For BVI companies AED 25,000/- 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 10000/- 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 (View based only)
  • 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 100 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
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    Download the application form

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