Raise the minimum bank balance to 5,000 dirhams

Banks working in the country intend to raise the value of the minimum bank balance required to 5,000 dirhams, after it was 3000 dirhams, according to the applicable according to the central bank system for personal loans, as of the first of next June, while a bank has already applied these fees recently.

According to a monitoring of “Emirates Today”, these banks stipulated that a credit card or personal financing to exempt from fee for a low minimum bank balance, estimated at 25 dirhams.

According to a list that «Emirates Today» obtained a copy of it, it came in detail: “The fees are free to a total balance of 20 thousand dirhams or more, or transfer a monthly salary in the amount of 15 thousand dirhams or more, or transfer a monthly salary in an amount between 5000 and 14 thousand and 999 dirhams with a credit card, facilities, withdrawn with open or loan.”

The list added: “A fee of 25 dirhams is imposed when transferring a monthly salary in an amount of 5000 to 14 thousand and 999 dirhams without a credit card, or withdrawal facilities, a loan, or a salary of a value of less than 5,000 dirhams.”

According to the list, “all customers who have accounts in the bank, and do not fall under the above categories, must pay a fee of 100 dirhams or 105 dirhams depending on the type of account.”

It is noteworthy that the personal loan system issued by the Central Bank, which has been in force since 2011, requires an amount of 3000 dirhams a lower balance of the balance, to exempt from a fee of only 25 dirhams.