Premium Current Accounts

Key Features

• Open your account in AED & USD currencies.
• Enjoy the benefits of interest with “Auto sweep facility available”
• Sweep / Reverse sweep will be for AED 50,000/- / USD 13,600/- in excess / shortfall of AED 250,000/- / USD 68,000/-
• Interest will be payable @1.00% after maturity of one month on amount sweeped in TD and 0% in case of premature payment.
• Interest paid on balances kept in excess of minimum threshold by creating Flexi Fixed Deposits (FFD) as per below:

Period	ROI
0 to 29 days	NIL
30 days to 59 days	0.10%
60 days to 89 days	0.10%
90 days	0.20%

• System will automatically reverse sweep the TD, if outstanding balance in current account (apart from TD) falls below the minimum balance requirement.
• Sweep / Reverse sweep will take place at the time of day end activities.
• One cheque book of 50 leaves is free per half year (Apr-Sept & Oct-Mar)

Eligibility

• Duly filled account opening form
• Copy of registration with economic 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*
• 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 corporate maintains account with other Bank
• Original documents to be produced for verification
• 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

(*require as per constitution of firm)

Charges

As applicable from time to time, please refer Service charges guidelines separately or click Service charges to see more details.

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