Types of Bank Accounts in UAE

UAE banks offer a wide range of services and accounts, including:

• Current accounts – used for daily banking and typically offer low rates of interest, with easy access to account funds. Current accounts may include an ATM/debit card, a chequebook and possibly a credit card
• Savings accounts – generally offer higher rates of interest than current accounts, but may have limited access to funds, and interest penalties may be incurred for making withdrawals. Savings accounts may offer either fixed or variable rates of interest, and may be fixed for a period of time (e.g. two years)
• Deposit accounts – typically offer higher interest rates than current or savings accounts, but in return access to funds may be limited or not available until the maturity date of the account. Deposit accounts may not be suitable if you require regular access to funds

With most accounts, banks are now offering free credit cards. Accounts that get salary credited has more features and benefits, generally.