Do you have a bank account which suits your needs? Luckily UAE residents have plenty of choices of local and international banks to choose from in the country. So, explore your options and select an account which best suits your financial needs. Whether you prefer conventional or Islamic banking, you can access a wide range of product offerings such as current, savings or deposit accounts to fulfill your financial requirements. Keep in mind, the process of applying for a bank account may differ for each bank. Below, find out how you can open an account with First Gulf Bank (FGB).
What is the eligibility criteria?
If you’re planning to open an account for the very first time with FGB, it’s advisable to check if you match their eligibility criteria. The bank requires the applicant to be 18 years or above for standard accounts. However, FGB does offer specialized accounts such as ‘ChildFirst’ savings account which are designed for minors below 18 years. In this case, a primary account holder who is eligible to open an account is required. Some accounts may also require the applicants to be UAE nationals.
Choose the right account
FGB offers a range of account options to choose from. You can select the right account based on your financial needs. While the FGB current account is best for day-to-day business transactions, FGB savings account can earn you interest/profit on your money. If you’re willing to lock in your money for a longer time to earn a higher interest/profit, FGB Fixed Deposits can give you an interest rate of up to 0.9% on 12 month deposits. FGB Power Plus is another account with works as a current and deposit account with the flexibility to make withdrawals without any charge or fees.
For a more personalized banking, you can opt for the FGB Accelerator Program which lets you personalize your banking experience. All you have to do is open a current account and pick a credit card of your choice. You can choose your accelerator tier, your rewards (cashback, miles or reward points) and you even get a welcome bonus of up to AED 1,500 cashback, 24,000 miles or, 210,000 reward points.
What documents are required?
Do your research, select the best option you’re eligible for and than visit the branch. Make sure to ask the right questions such as, do you require a minimum balance to be maintained and what are the fees and charges applicable? Fill out any forms required at the branch, also FGB offers an easier option to download the form directly from their website. It can save you time prior to branch visit.
After filling the forms with necessary details, you will be asked for essential documents to be submitted. Documents include completed bank forms, original passport with valid visa and salary certificate or reference letter.
Once your application is approved, you will receive an account number and IBAN number along with debit/credit card or cheque book if it’s offered with the selected account.