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
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
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
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
Download the application form
For more details please contact nearest Bank of Baroda branch in UAE.