Open Dubai Islamic Bank Zero Balance Account?

DIB Zero Balance Account - Overview

Dubai Islamic Bank's zero balance account is a type of savings/current account that doesn’t require you to maintain a minimum balance in the account. The highlight is that you do not have to pay any charges if you don’t maintain the minimum balance in these accounts. 

The banking facilities for these accounts are the same as those for your regular ones. You get services like chequebook, convenient mobile and internet banking, and easy transactions. Beyond basic banking, enjoy the potential for greater savings with a competitive profit rate.

List of Dubai Islamic Bank Zero Balance Accounts in the UAE

The following account types with DIB, in which you don’t need to maintain a balance, are mentioned below:

Shaatir Savings Account 

You can operate this account without the need to maintain a minimum balance. Typically, it caters to children and teenagers (below 18 years), to help them learn money management under parental guidance. It also allows you to earn quarterly profits on your savings. However, to avail this benefit, your monthly balance should be above AED 1,000 with only one withdrawal during the month.

Al Islami Payroll Account

This DIB zero balance account is designed to provide exceptional banking privileges for both salaried employees and employers. It comes in three distinct types: the Payroll Current Account, the Payroll Savings Account, and the Payroll 2-In-1 Account. This type of zero-balance bank account offers flexibility and easy access to your funds.  Beyond these core features, you can enjoy other benefits too. They are –  a complimentary debit card for convenient transactions, a salary-in-advance facility for unexpected needs, and competitive interest rates on auto and personal loans. 

Features & Benefits of Dubai Islamic Bank Zero Balance Account

Given below are the key benefits of the Dubai Islamic Bank Zero Balance account:

• ✅ No minimum balance is required
• ✅ No maintenance fees
• ✅ Attractive profit rate on savings 
• ✅ Complimentary debit card 
• ✅ 24/7 digital access with mobile and internet banking 

How to Open a Zero Balance Account in Dubai Islamic Bank? 

You can open a DIB account in the following ways:

Online Process

Navigate the steps below for Dubai Islamic Bank's zero balance account opening online:

• Visit Paisabazaar.ae and click on the ‘Bank Account’ section
• Choose ‘Zero Balance Account’
• Provide the required information in the lead form 
• Get to the quotes page with several zero-balance account options
• Explore the features and benefits of the given options and look for the DIB zero balance account 
• Click on the ‘Apply’ button to open an account with the bank

Offline Process

You can directly visit the nearest DIB branch to open an account. Get assistance from the bank’s representative and start the application process. Furthermore, the bank offers phone and mobile banking services to open an account in the UAE. 

Eligibility Criteria for Dubai Islamic Bank Zero Balance Account 

To open a DIB zero balance account, you need to tick the following eligibility requirements:

Shaatir Savings Account	Al Islami Payroll Account
Must be below 18 years old  You must be a UAE resident	Must be a UAE resident  Must be at least 18 years old and working in a company listed with Dubai Islamic for Payroll services

Documents Required for a Dubai Islamic Bank Zero Balance Account 

The following is the list of documents required to submit while opening a DIB zero balance account:

• ☑️ Emirates ID
• ☑️ Passport
• ☑️ Residence visa/proof (if applicable)
• ☑️ Income proof 
• ☑️ Utility bills for address proof
• ☑️ A duly filled-in opening form
• ☑️Guardian/Parent’s consent letter (For Shaatir account) 
• ☑️Guardian/Parent’s Documentation (For Shaatir account) 
• ☑️Documentation of minor (For Shaatir account) 

Note: If required, the bank may request some additional documents. So, make sure to provide valid documents to make the opening process smooth. 

Summing Up 

If you are looking for an account where you don’t need to maintain a balance, the DIB zero balance account is your go-to option. It’s an exquisite financial product offered by the bank, giving you a stress-free financial experience. It’s easy to open without any hectic documentation and offers an attractive profit rate to give you more on your savings.

Frequently Asked Questions