Commercial Bank International – Current Account
Minimum Salary
AED 0
Currencies
AED, GBP, USD, EUR
Feature
Free Cheque Book, Free Credit/Debit Card, Multiple Currencies, Phone Banking

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Features:

  • Free First Cheque Book: Receive your first cheque book at no charge.
  • International Debit Card: Get a free debit card for use globally.
  • Major Currencies: Available in AED, USD, EUR, and GBP.
  • Overdraft Facility: Access overdraft services subject to eligibility.
  • Banking Services: Free phone and online banking.
  • Account Statements: Receive free monthly account statements.
  • Minimum Balance Requirement: AED 3,000 or USD 1,000.

Supporting Documents:

  1. For UAE Nationals:
    • Original Passport: Must have at least one month of validity.
    • Valid Emirates ID: For identification purposes.
    • Proof of Income: Salary Certificate or Salary Transfer Letter.
    • Proof of Address: Bank Statement, Utility Bill, Tenancy Contract, or Salary Certificate/Transfer Letter.
  2. For Expatriates:
    • Original Passport: Must have at least one month of validity.
    • Valid Visa: For residency confirmation.
    • Valid Emirates ID: For identification purposes.
    • Proof of Income: Salary Certificate or Salary Transfer Letter.
    • Proof of Address: Bank Statement, Utility Bill, Tenancy Contract, or Salary Certificate/Transfer Letter.

Minimum Deposit:

  • To Open Account: AED 3,000 or USD 1,000.
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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