Several banks across the UAE will soon raise their minimum balance requirement from AED 3,000 to AED 5,000, marking a significant change for account holders beginning June 1.
Under the updated policy, customers who fail to maintain the new minimum threshold may be charged a fee of AED 25. While one bank has already rolled out the change, others are expected to follow suit starting next month.
The adjustment aligns with existing Central Bank personal loan rules, though banks are also introducing new exemptions to the fee. According to a document obtained by Khaleej Times from Emarat Al Youm, clients who maintain a total balance of AED 20,000 or more, or those who transfer a monthly salary of AED 15,000 or above, will not be subject to the charge.
Exemptions will also apply to customers earning between AED 5,000 and AED 14,999 per month, provided they also have a credit card, overdraft facility, or personal loan with the bank. However, those in the same salary bracket without any of these financial products will incur the AED 25 fee.
For those earning less than AED 5,000 monthly, or who don’t meet any exemption criteria, fees could range from AED 100 to AED 105 depending on the type of account held.
The Central Bank of the UAE had initially set a minimum balance of AED 3,000 under its personal loan regulations issued in 2011. The latest increase reflects the evolving banking standards and financial ecosystem in the country.
