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Personal finance: Your guide to UAE banks, interests, loans and loan payments


FAQ#1: What are the types of bank accounts?
When opening a bank account in the UAE, a resident can choose from a current, savings, corporate and investment accounts.
Current account
A current account is mostly used for routine financial transactions. You will be issued a debit card and a cheque-book. The account can be used to receive salaries and can be maintained in several currencies, such as USD, GBP, Euro, AED, etc.
When opening the account, you have to opt either for a current salary account (monthly salary is transferred to this account), or a current account (it requires minimum balance, mostly for business). ....

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