April 20, 2024

Best Zero Balance Accounts In The UAE

Last Updated on March 19, 2024 by Ola Precious Akinkuolie

The use of banks has skyrocketed since it is one of the safest ways to keep money. So, to save money in the bank, one needs a savings account. However, these accounts require a minimum balance. Therefore, if they are empty, a fee must be paid. Zero balance accounts do not have such a policy. It is called zero balance because it runs a non-minimum balance, which means accounts can be empty, and no fee would be required. 

What Are The Best Zero Balance In UAE? 

1. HSBC E-Saver Account 

If you intend to surf in financial convenience, an HSBC E-Saver account is one to use. Indeed, it holds its weight as a top zero balance account in the UAE because it runs an effective non-minimum balance. Account holders can empty their accounts to zero; no fees would be required. It is a savings account with many benefits, ranging from high fixed rates of 0.10% on deposits made to a zero balance account that does not need monthly charges. It is easy to use and has fast and easy options to deposit money. This is an excellent recommendation for residents in the UAE. 

2. RAK Bank Fast Saver Online 

If there is anything RAK Bank is famous for, it is its low savings requirements and high-interest rates. The bank has carved a niche by offering conventional banking services with sizably high-interest rates. As the cherry on the top, RAK bank savings allow for a zero account. Its interest rates begin from 0.5%, and no maintenance fee is needed for the account. Interestingly, RAK bank offers free debit cards and the ability to save in AED and USD, which is quite generous for a bank. There are also no restrictions to how much you can save, so it is a free-for-all market. However, the maximum amount for which interest can be earned when operating a USD account is 5 million USD. RAK Bank also offers a safe and secure online savings platform.

3. Mashreq Happiness Account 

The Mashreq Happiness Account has no rivals regarding its zero account balance and the ease of saving. With the Mashreq Happiness Account, you are not required to have any money saved or any funds set aside to manage your account. It also offers interest rates based on the Mudarabah pool rates. Moreover, it allows sending funds across borders without transfer rates! You do not need to be physically present at a bank branch to open a Happiness Account; all you require is your Emirates ID, and you are set to go.

4. Fab Account

Fab Account is undoubtedly one of the best . Including that you can have a zero account, the bank also offers an array of benefits with interest rates as high as 0.20%. With your Emirate ID, you can just as easily create a zero-balance account with FAB. They also offer a fantastic online service program with their always-accessible mobile application. It comes highly recommended for persons who are on the go and like to perform transactions.

5. Emirates NBD

The Emirate NBD is a financial institution that is the brainchild of the Dubai government and is one of the largest banks in the UAE. Despite its reputation, the bank offers one of the best zero-account deals you can request. The standard savings account with zero balance has a free debit card and an interest rate of 0.20% per annum. 


We have brought you some of the best zero accounts in the UAE at this very moment. Several of them even throw a zero maintenance fee into the deal. However, it is essential to know that some terms and conditions apply to such accounts. Kindly visit the sites of these banks available in the hyperlinks attached to their names for more information.

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Introducing Ola Precious Akinkuolie, a dynamic professional with over three years of enriching experience in the branding and marketing sector. Ola is characterized by a relentless work ethic and a keen sensibility for the aesthetic elements of branding. Her expertise lies in enhancing the visual and strategic aspects of marketing, making every brand she touches not only visually compelling but also strategically sound.

At technewsme.com, Ola is our go-to expert for insights that blend the beauty of design with the efficiency of marketing strategies. Her approach is deeply rooted in creating content and strategies that are impactful, memorable, and aesthetically pleasing. Ola’s mission is to drive success for our clients by offering a unique perspective that harmonizes the form and function of their brands. Stay tuned as she shares innovative strategies and tips to navigate and excel in the ever-evolving landscape of marketing.

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