How to open a savings account in commercial bank

The Commercial Bank offers traditional personal savings accounts with competitive interest rates. Rest assured that your money is at your finger tips when you need it, and insured by FDIC up to $250,000. Automatic transfer is available for most accounts.

Table of Contents Show

Personal Savings Account
Savings for Minors Account
Money Market Account
Top Features
Features and Benefits
Required Documents
Eligibility
Apply online now
SMS ACCOUNT to 4266
What is it?
Who Qualifies?
Why is the product used?
What is it?
Who Qualifies?
Why is the product used?
Do commercial banks offer savings accounts?
How do you open a savings account?
What is saving account in commercial bank?
Can I open a savings account online?

Personal Savings Account

$100 minimum deposit to open
$100 minimum daily balance requirement
Interest will be credited to the account monthly and rate may be subject to change
Unlimited number of deposits
$5 maintenance fee if the daily balance falls below minimum balance requirement during the month
$2 per item fee for each transfer or withdrawal in excess of 3 per month

Savings for Minors Account

The Commercial Bank offers a Savings for Minors account which is the easiest way for your child to grow his or her money and learn the value of saving.

$25 minimum deposit to open
No minimum daily balance required
Interest will be credited to the account monthly and rate may be subject to change
Unlimited number of deposits
$2 per item fee for each transfer or withdrawal in excess of 1 per month
Must be under the age 18 and requires a custodian

Money Market Account

A Money Market Account is a savings tool, but has more flexibility than a traditional savings account.

$2,500 minimum deposit to open
$2,500 minimum daily balance requirement
Interest rates are based on tiered balances
Interest will be credited to the account monthly and rates are subject to change
Unlimited number of deposits
$7 per month maintenance fee if balance falls below daily balance requirement
Per item fee of $5 for each transfer or withdrawal in excess of 6 during a month

Top Features

Minimum monthly balance

Maintain a low minimum monthly average balance and watch your savings grow.

CBD Reward Points

Earn CBD Reward points.

Budget and Track

Manage your daily finances and plan for your goals.

Attractive Interest Rates

Earn interest at competitive rates.

Features and Benefits

Free debit card with the latest Chip & PIN security and contactless pay card technology to make easy payments or withdraw cash at ATMs worldwide.
Standing instructions facility.
Money transfer facility.
CBD Rewards Points.
Attractive interest rate calculated on lowest balance of the month and paid semi-annually.
Complimentary access to over 10 VIP lounges in UAE, KSA, Jordan, Kuwait and Egypt for Platinum MasterCard Debit Card holders
Free Online Banking and Mobile Banking.
24 hour Contact Centre – 600 575 556.
SMS alert and payment service.
Statement access via CBD Online Banking.

Required Documents

Completed account opening form.
National ID or valid passport, residence visa and Emirates ID.

Eligibility

If you are UAE National, UAE resident or non-UAE resident and minimum 18 years of age.

WARNING

Investment products are subject to risks, including possible loss of principal amount invested. Past performance is not indicative of future results: prices can go up or down. Investment products are not bank deposits and are not guaranteed by Commercial Bank of Dubai. For complete product details and warnings, please refer to the Key Facts Statement document.

Apply online now

No need to visit a branch.
It's quick, it's easy and takes a few minutes to complete.

Apply NowApply Now

Visit us

You are more than welcome to visit us. Find out your nearest branch.

SMS ACCOUNT to 4266

Call us

UAE: 600 575 556

Intl: +971 600 575 556

At Commercial Bank of Kuwait we have a range of saving accounts which will satisfy your financial needs, they are available in multi currencies and have many outstanding features along with our famous Najma account, Where you can have a weekly chance of KWD 5,000 and biggest annual draw chance of KWD 1,500,000

Savings Account

What is it?

Al Tijari saving account targets individuals aiming to save more and accrue interest on monthly basis. The savings account can be opened with a minimum balance of KD 10, held in Kuwaiti Dinars only whilst giving you access to your funds instantly.

Who Qualifies?

For Individuals
For Kuwaiti and non-Kuwaiti with valid residency

Features and Benefits

Opened in Kuwaiti Dinars only
Debit card can be issued on the account.
Attractive saving account rates
Minimum amount to open the account is KD 10/-
Minimum amount to earn interest is KD 1,000/-
Interest is calculated on the lowest balance during the month and credited to the account at the end of each month
The bank does not pay interest if the credit balance falls below KD 1,000 during the month
The limit of cash withdrawal through ATM is KD 1000/- per day
Free online banking service to access your account
Free online monthly statement
Credit card can be issued against collateral.
Eligibility to issue prepaid card

New customers can now open a savings account via CBK Mobile App. in an easy and simple few steps and have their Debit card delivered to their preferred location

*Terms & Conditions Apply

Assistant & Support

For further assistance and support, kindly contact us using any of the following channels:

Al-Tijari Live Video Banking or WebChat through the Mobile Application or by visiting www.cbk.com
Al-Tijari WhatsApp 50888225
Al-Tijari Contact Centre 1888225

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KD Commercial Star Account

What is it?

The Commercial Star Account is a tiered rate product.

Who Qualifies?

Individual and Corporate.

Why is the product used?

To invest money.

Features

The interest is calculated on a daily basis and paid at the end of the month.
The limit of cash withdrawal through ATM is KD 1000/- per day.
Different interest rate is accrued on tiers of balance on a monthly basis.
- Up to KD 5,000
- From KD 5,001 to KD 25,000
- From KD 25,001 to KD 50,000
- Above KD 50,000
The customer receives a statement on a monthly basis.
Interest is calculated on deposit, on the next working day after the deposit is made.
If the balance drops below KD 250/- at any day during the month, the interest will be calculated at the default rate, for the whole month.
No interest will be calculated or paid if the average balance during the month drops below KD 250/-
If the account is closed, the interest rate will be calculated using the default rate, for the period from the first day of the current month till the previous day of closure.
There is no monthly limit to the number of ATM (Starlink) transactions.
No more than three counter transfers to cover current account, and if more than three transfer transactions occur then the interest will be calculated based on the default rate.
Interest rates will be adjusted as per the market on a monthly basis.
A commission of 2 KD will be deducted if average monthly balance drops below 250 KD (for non individual accounts)

Benefits

The customer is provided with a liquid savings product that offers a high rate of interest.
Interest will be calculated on a daily basis and paid monthly.
Customer segments can be an individual, company or establishment.
Customer will receive a monthly statement.
Account can be blocked as collateral.

KD Privilege Account

What is it?

The privilege account is addressed to customers who have large balances.

Who Qualifies?

Individuals, Establishments and Corporate.

Why is the product used?

To invest money.

Features

High interest rate.
Account may be opened by individual and corporate.
Account statement will be issued on a monthly basis.
The initial deposit amount required is KD 5000/- .
Different interest rate is accrued on tiers of balance on monthly basis.
- Up to KD 5,000
- From KD 5,001 to KD 50,000
- From KD 50,001 to KD 250,000
- Above KD 250,000
Interest is calculated daily and paid to the account on the last day of the month. If the balance drops below KD 5000/- on any day of the month, interest will be paid at the announced interest rate for the entire month.
If the average daily balance drops below KD 5000/-, no interest will be paid
When the account is closed, the interest rate will be calculated using the default rate, for the period from the first day of the current month till the previous day of the closure.
Four debit transactions regardless of the type of transaction are permitted on the account per month; Announced default rate will be paid throughout the month, if more than four transactions are conducted.
A commission of 2 KD will be deducted if average monthly balance drops below 5000 K.D (for non individual accounts).

Do commercial banks offer savings accounts?

Commercial banks provide basic banking services and products to the general public, both individual consumers and small to mid-sized businesses. These services include checking and savings accounts, loans and mortgages, basic investment services such as CDs, as well as other services such as safe deposit boxes.

How do you open a savings account?

How to open a savings account (step-by-step).

Compare your options. Before you open your account, make sure you've chosen the right bank for your needs. ... .

Gather required documents. ... .

Choose a joint or individual account. ... .

Fund your account. ... .

Submit your application. ... .

Set up online banking..

What is saving account in commercial bank?

With our hassle-free account opening process, our Savings Account, gives you easy access to your money for your day-to-day needs and help keep your cash secure. The everyday account with no monthly account fees and unlimited mobile, online, branch and ATM access.

Can I open a savings account online?

Different financial institutions have different processes, but you can typically request to open a savings account either online, in-branch or over the phone. If there's a minimum deposit requirement, you'll need to deposit that amount or more.