Arab Bank Current Account
Minimum Salary
AED 0
Currencies
AED, GBP, USD, EUR
Feature
Free Cheque Book, Multiple Currencies, Phone Banking

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Overview: The Arab Bank Current Account is designed for convenience and flexibility, offering a non-interest bearing account suitable for everyday transactions.

Features & Benefits:

  • Cheque Book Facility: Available for account holders.
  • Foreign Currency Account: Option to maintain accounts in various foreign currencies.
  • Joint Account: Facility to open a joint account with another individual.
  • Salary Account: Option to have a salary account.
  • Free Services:
    • Phone Banking: Available without additional charges.
    • Online Banking: Access to online banking services for free.
  • Free ATM Card: Visa Electron card provided for international use.
  • International Network: Access to Arab Bank’s global network.
  • Supplementary ATM Cards: Additional cards are provided free of charge.
  • Bill Payment: Utility bills can be paid via Phone Banking and Online Banking.

Documents Required to Open an Account:

  1. Valid ID Card: Proof of identity.
  2. Document of Residency: Proof of residency in the UAE.
  3. Utility Bill: Recent utility bill to confirm address.
  4. Contract of Lease: Proof of residence (if applicable).
  5. Identification or Birth Certificate (for minors): Required for minor account holders.
Calculator Terminology

Principal Amount: The initial amount of money borrowed.

Annual Interest Rate (%): The yearly interest rate applied to the loan or credit product, also known as APR in this context.

Loan Term (Years): The original duration of the loan or credit agreement, stated in years.

Effective Monthly Payment: The total monthly payment that accounts for all fees and associated costs related to the product.

Calculated Annual Percentage Rate (APR): The APR is computed using the annual interest rate along with fees and other expenses. It serves as a standardized measure for comparing the overall cost of different products with varying interest rates and fee structures across different financial institutions.

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