Al Hilal Bank Zero Balance Account

Al Hilal Bank Zero Balance Account - An Overview

A zero balance account is fundamentally a bank account that does not have a requirement to maintain a minimum balance, unlike a regular savings bank account. Thus, if an individual chooses to keep such an account without any balance, the respective financial institution does not impose a fine. 

Having such a banking account in handy when there is an emergency. If a situation arises when you are required to pay a hefty amount, you will have the option of withdrawing the entire balance available in your zero balance account.

Key Features of Al Hilal Zero Balance Account

Given are the top features of the Al Hilal Bank Zero Balance account in the UAE:

• The account is structured according to Shariah-compliant principles
• Open an account in AED currency
• No minimum balance is required to maintain the account balance
• Enjoy a higher profit rate than adult accounts
• Open an account and get a personalised Mastercard Debit card for free
• Receive your debit card instantly
• Monthly profit distribution is done

Features and Benefits of Al Hilal Bank Zero Balance Account

Al Hilal bank provides plenty of advantages to Seghaar account holders. Read out the points enlisted below to know them in detail -

• Available in AED (Dirham)
• Sharia Compliant
• Attractive monthly profits
• Thumb impression identification feature
• Zero minimum balance required
• Automated banking services available 24*7.
• E-statements for free
• Customisable account number
• Access to a free customised Visa debit card
• Access to online, SMS, and mobile banking for free

How to Open Al Hilal Bank Zero Balance Account? 

An applicant can open a Hilal Bank zero balance account using any of the different ways discussed below -

Online Mode: Nowadays, most individuals prefer to complete bank-related tasks online owing to the ease of processes and greater flexibility. The same can be done for opening this type of Al Hilal savings account online using the Internet Banking facility of the bank -

Internet Banking

You can get started with internet banking for your zero balance account or Seghaar Savings account with Al Hilal Bank for free. You can visit the official website of Al Hilal Bank and create a new account. Given below are the steps for the same in detail:  

1. Open the ‘accounts’ section on the Al Hilal website and go to ‘current and savings accounts’.
2. Click on the ‘Apply Now’ option for the specific bank account after viewing all its salient features and terms.
3. Provide your details like name, email ID, contact number, Emirate of residence, monthly salary, and more.
4. Hit the submit button.
5. Complete the application by following the further steps as outlined in the on-screen prompted instructions.

Offline Banking

You can also use the traditional banking method to open the zero balance account by Al Hilal Bank using the following methods:

• Phone Banking

You can directly get in touch with the bank's customer support through the toll-free number. Once you inform your wish for the same, one of the representatives will assist you via call and get your Al Hilal bank zero balance account opened.  

• Visiting Branch

If you face any technical issues while opening a zero balance account or wish to connect with the bank in person, you can visit the nearest branch of Al Hilal Bank. Once you are at the branch, you can connect with a bank executive and seek information and the application form regarding the zero balance savings account. After filling it out and submitting it, you will be soon contacted by the bank for further procedure.

Eligibility Criteria for Opening an Al Hilal Bank Zero Balance Account? 

To open a Hilal Bank zero balance account, you must fulfil the following eligibility criteria as set by the bank: 

• The applicant must be a UAE national or UAE resident
• Individuals aged below 18 years of age are also eligible, although they will have to apply along with a guardian

List of Documents Required to Open a Hilal Bank Zero Balance Account 

When opening an Al Hilal bank zero balance account, make sure to carry the following documents -

• Valid Emirates ID
• Valid Passport
• Valid residence Visa (applicable for ex-pats)
• Proof of income or trade license
• Address proof (like a utility bill)

Al Hilal Bank Zero Balance Account- Fees and Charges

Before applying for any account, it's important to be aware of the associated fees. In the table below, we will take a look at the fees and charges of the Al Hilal Kids Savings account

Type of Fees	Charges
Balance Calculation Method	Average Balance
Account Opening Fee	NIL
Monthly Fall Below Fee	NIL
Amount Required to be Eligible for Profit	AED 500
Debit Card Replacement Fee	AED 26.25
Copy of Sales Slip	AED 26.25
ATM Withdrawal Charges	Free
Chequebook Issuance Fee	N/A
Monthly E-Statements	Free
One Time Standing Instruction Set Up	AED 52.50
Liability Letter	AED 63
No Liability Certificate- At the Time of Account Closure	Free
Remittance From UAE Banks Credited to Customer Account	Free
Remittance From Banks Outside UAE Credited to Customer Account	Free
Transfer of Funds Within Al Hilal Bank	Free

How to Access Al Hilal Bank Zero Balance Account?

Viewing your Hilal Bank zero balance account is now more convenient than before. The bank allows its customers to have access to their bank accounts online besides the usual options of visiting a branch or connecting with customer support. 

Lists All Methods Through Which You Can Access Your Zero Balance Account -

Internet Banking: You can simply visit the official website of Al Hilal bank and login into your personal banking account by entering your user ID and password. Once you are logged into your account, you will be able to view your account details and complete any tasks related to your account with minimal effort. 

App Banking: Users can also download and install the official app of Al Hilal Bank to access their Seghaar account. If your online banking account is already in use, you can simply register your account using the internet banking credentials and access it on your mobile. This is an excellent option for individuals with smartphones who wish to have banking services available at their fingertips. 

With the Al Hilal smartphone app, you can get the following benefits -

• Pay bills with just one tap
• Instant fund transfers by providing IBAN
• Add the plastic cards to Google Pay and Apple Pay
• Easy access to account information

SMS Banking:  SMS banking falls under the category of offline banking. To obtain any information regarding your zero balance account at Al Hilal Bank, you can send a message to the bank and receive the required information quickly. 

Through SMS banking, you can enquire about your account balance, check the latest transactions, transfer funds, pay utility bills, and complete several other actions. 

Phone Banking: One can always have a consultation with one of the Al Hilal Bank representatives to get all the required information immediately. The representatives can be contacted via the toll-free number available on the website of the bank. 

Visiting the Nearest Branch: You can always find the nearest branch of Al Hilal Bank and get the required assistance from the customer support team or complete your account-related actions there. Whether you wish to make a deposit, transfer funds, check your bank statement, and so forth, you will be able to complete the tasks by connecting with a bank executive at the bank branch.

Al Hilal Zero Balance Account- Terms and Conditions

The following are some of the key terms and conditions of the zero balance account:

• An individual can open a bank account in their own name or jointly with another person. The Bank may also open more accounts for the customer if requested, but this depends on the Bank’s approval and any required balance or fees. Each account will be treated as separate and will follow the same terms and conditions.
• If a customer closes an account and doesn’t collect the remaining balance, the Bank will notify them using the email address or phone number provided. The customer will be asked to collect the money through a pay order. If the customer doesn’t collect the amount within one month, the funds will still be available, but they must follow the Bank’s process to claim it.
• If the Bank chooses to close a customer’s account and there is a remaining balance, the Bank will inform the customer using their registered contact details. The customer can then collect the money via a pay order.
• The Bank may also provide cheque books and payment tools as per its rules.
• The Bank has the right to refuse or stop any customer instruction if following it could cause legal issues, harm the Bank’s interests, or result in any risk or liability. The Bank may also delay or stop action if events beyond its control make it difficult to follow instructions.

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