Frequently asked questions (faq’s)

A Current Account is a non-interest bearing checking account with an ATM Card and cheque book facilities.

You will be issued with a FREE ATM card, which can be used at all UAB and UAE SWITCH ATMs and if you require, a personalized cheque book can be issued at a nominal charge of AED 25.

Individuals above 21 years of age who are resident in the UAE. Non resident individuals cannot open a Current Account. A UAE company registered as a sole proprietorship, L.L.C. Free Zone establishment, general partnership, public or private shareholding, limited partnership or club, association or society.

A UAB Current Account is a non interest bearing account. But if you wish to enjoy interest on your account balance, you can open a Savings account (for individuals only).

UAB Current Accounts are available in AED, US Dollars, Euro and Pound Sterling (GBP) currencies. Other currencies are available on special request.

If the average monthly balance falls below the minimum average balance, a ledger fee will be charged.

A UAB Current Account allows you to apply for a Credit Card, overdraft, loans and cash secured facility as per the bank's credit approval.

Yes, we can issue a cheque book to customers who do not maintain the minimum balance requirement, as long as any issued cheques are covered by the account balance and cheque book charges maintained.

As standard, we will issue your cheque book in AED currency.

Yes, the full deposit amount booked under the Flexi-Fixed Deposit can be redeemed at any time. Redemption of the deposit before maturity is subject to a notice period of at least two (2) UAE business days in writing. Zero interest is paid if the deposit is cancelled during the first three months. After 3 months, the applicable interest rate is applied as per the graph. Only the full amount can be redeemed.

Yes, the full deposit amount booked under the Flexi-Fixed Deposit can be redeemed at any time. Redemption of the deposit before maturity is subject to a notice period of at least two (2) UAE business days in writing. Zero interest is paid if the deposit is cancelled during the first three months. After 3 months, the applicable interest rate is applied as per the graph. Only the full amount can be redeemed.

The full interest amount will be paid at the end of the deposit, at maturity, and in one payment. If the deposit is cancelled before maturity, the full interest amount will be paid at the time of cancellation.

Your profit will be calculated based on the rate corresponding to the actual duration your deposit remained active from the start date until maturity or the time of withdrawal.

Examples

• Early Withdrawal (6 months):
  If you maintain your deposit for 6 months and choose to withdraw early, the applicable profit rate is 3.70% per annum.
  Your deposit will earn profit at this rate for the 6-month period.
• Mid-Term Withdrawal (18 months):
  If you maintain your deposit for 18 months, the applicable profit rate is 4.00% per annum.
  Your deposit will earn profit at this rate for the full 18 months.
• Full Tenor (36 months):
  If you complete the full 3-year term, your deposit will earn profit at 4.00% per annum for the entire duration.

This deposit has a maximum maturity of 3 years. All rates across the time buckets are defined in advance. The rate is selected according to the time of exit.

We offer Flexi-Fixed deposit only in AED and USD

Yes, commercial accounts can invest up to a maximum of AED 20 million or USD 10 million. We have no maximum limit for personal accounts.

A UAB Loan is a personal loan granted to salaried individuals whose salaries are credited to United Arab Bank. The maximum amount for a UAB Loan is AED 2 Million. The loan is intended for personal use and to be repaid by deductions from the borrower's salary.

Yes. For a personal loan it is mandatory that your monthly salary is transferred to UAB.

The minimum age requirements for UAE nationals are 21 years

UAE Nationals: 65 years or retirement age, whichever is earlier on loan maturity. Expatriates: 60 years or retirement age, whichever is earlier on loan maturity.

The method for repaying a UAB Loan is by debiting the repayment amount from your monthly salary when it is transferred to your UAB bank account.

Yes subject to UAB receiving a letter from your employer confirming your employment status and assignment of salary with UAB.

The maximum repayment period is 48 months for expatriates and for UAE nationals.

A maximum limit of up to AED 2 Million

Our interest rates are charged on a reducing balance. The interest rates are extremely attractive and competitive and are dependent on your income and the period over which you wish to repay.

You do not need any collateral or guarantors.

Islamic Flexi Term Deposit is structured under Islamic Wakala Investment concept by which the Bank (Wakil) acts as an Agent on behalf of the Customer (Muwakil) to invest in the Investment Amount (Deposit Amount) and returns with expected profits according to the tenor of the investment.

Yes, any deposit amount booked under the Islamic Flexi Term Deposit can be withdrawn at anytime.
Redemption of the deposits before maturity is subject to a notice of at least two (2) UAE business days in writing.
Zero profit is paid if deposit cancelled before three months, otherwise applicable rate applied as per the graph.

A: This product is proposed as a 6 months, 1, 2 or 3 years deposit facility.

• Anticipated rates across the time buckets are pre-indicated.
• No penalty will be charged.

Example 1: A customer decides to place ^ 1,000,000 in a 2 years deposit @4.00% expected profit. If the customer withdraws funds after 6 months, then Wakil incentive will be changed on pro-rata basis according to 6 months indicative profit rate to 3.70%.

Example 2: A customer decides to place ^ 1,000,000 in a 3 years deposit @ 4.00% expected profit. If the customer withdraws funds after 100 days (which is more than 3 months and less than 4 months), then Wakil incentive will be reduced on pro-rata basis according to the indicated 3 months profit rates resulting a profit of 3.70% for 100 days.

We are offering rates only in AED and USD, for this particular product

Yes, commercial accounts can invest up to a maximum of AED 20 million or USD 10 million. We have no maximum limit for personal accounts.

UAB Online is our Online Banking service that allows you to bank when and where it suits you, and our security precautions mean your money is kept safe at all times. It’s flexible banking 365 days a year. To use this service, all you require is an internet enabled phone, PC or laptop. What’s in it for you?

• It's secure
• It's fast, easy to use and convenient
• It’s available 24 X7
• Its’ accessible worldwide
• It allows you to complete all your banking transactions instantly at the comfort of your home/workplace &
• It’s FREE Browse through our FAQ section and have all your questions on UAB Online answered.

If you still cannot find what you are looking for, you can call us on 800474 or info@uab.ae

The following customers can register for UAB Online instantly:

• Current/ Savings Account Holders - All Individual Accounts where the Account Holding Pattern is “Single” & holding either an active Debit Card or Phone Banking PIN will be entitled to view their existing relationships & transact over UAB Online - All Individual Accounts where the Account Holding Pattern is "Joint" and having an active Debit Card or Phone Banking PIN will be entitled to view & transaction rights over UAB Online.
• Credit Card Holders - All primary credit card holders will be entitled to view their existing relationships & transact over UAB Online

Text Before you start the registration process, you will need one of the following handy:

• Your 15 digit Account Number & 4 digit Phone Banking PIN (TPIN) OR
• Your 16 digit Debit Card number & 4 digit Card PIN OR
• Your 16 digit Credit Card number & 4 digit Card PIN To register for UAB Online, simply follow the below three easy steps
  Step 1 – Click on the “Register for UAB Online” button on the login page. Enter the required information
  Step 2 – Enter the requested authentication
  Step 3 – Select your own User Id and Password Done, you are now registered for UAB Online

• You also can register for UAB Online & Phone Banking (TPIN) if you hold a credit card by just entering your 16-digit credit card number & 4-digit card PIN
• Apply for a debit card by visiting your nearest UAB branch. Once you receive your debit card, you can register for UAB Online & Phone Banking (TPIN)

You can request for a duplicate PIN by calling 800474. Once you receive your debit card PIN, you can register for UAB Online.

Yes, you can use your existing credentials to access the all new UAB Online.

Text Our all new UAB Online is loaded with more than 50 value added services. Some of the key services available are:
Account Services

• View Portfolio
• View/Download Statements
• View Inward/ Outward Cheque Status/Image
• Open New Ultra Savings/Savings Account
• Request for Chequebook
• Register for eStatement/ Modify settings
• Activate Debit Card
• Block/ Unblock Debit Card
• Change Debit Card PIN
• Request for Replacement Debit Card
• Apply for New Products
• Request for Manager’s Cheque
• Request for Demand Draft Deposit Services
• View/ Download Term Deposit Details
• Open New Term Deposit
• Update Deposit Maturity Instructions Credit Card Services
• View Card Details
• View/ Download Transactions
• Apply for Easy Payment Plan
• Apply for Balance Transfer
• Apply for Easy Loan
• Make Payment to Card
• Activate Credit Card
• Block/ Unblock Credit Card
• Change Credit Card PIN
• Request for Replacement Credit Card
• Apply for Supplementary Credit Card
• Request for Supplementary Card Limit Change Payments Services
• Pay Utility Bills (DEWA, SEWA, FEWA, AADC, ADDC)
• Pay Etisalat & Du bills
• Recharge Salik Account
• View Payment History
• Manage Payee List
• Set Standing Instructions Fund Transfer Services
• Transfer Funds Between Own Accounts
• Transfer to Other UAB Accounts/ Credit Cards
• Domestic Transfers (Within UAE)
• International Transfers
• Manage Beneficiary list
• Schedule Recurring Transfers
• View Transfer History
• Download Swift/ Remittance Advice Finances Services
• View Finance Details
• Request for Installment Deferment
• View Loan Statement Other Services
• Exchange Rate Calculator
• Deposit Rate Calculator
• Register for Phone Banking
• Update Personal Information
• Change Phone Banking PIN
• Change Preferred Alert Language
• Change Login Password
• Send/ View Secured Mail
• Apply for New Products
• View Activity History
• View Service Request Status

• You can instantly retrieve your User Id online by clicking the “Forgot your User Id” link available on the login page and entering the information required
• You can also call us on 800474 and speak to a Phone Banking agent for assistance

You can instantly reset your login password online by clicking on the “Reset Password” link available on the login page and entering the information required

Yes, a deposit amount booked under Escalator can be redeemed fully or partially (provided remaining amount is not less than required minimum deposit amount) with two UAE business days’ notice in writing. No interest will be paid if the deposit is cancelled within 1 month of placement. There will be no penalty if deposit is redeemed on any six monthly interest payment dates, after the first year.

Yes you can cancel, but reinvesting in the product would be subject to prevailing rates at that time.

UAB provides customer financing facilities (up to 90% of the deposit amount) against this product at a very attractive price to meet any short-term cash flow requirement.

Please don’t hesitate to contact your relationship manager to hear about other attractive deposit products for smaller amounts.

Yes, we can structure similar product in other major currencies and with various maturities. Please contact your relationship manager with your specific needs.

According to the ISO compliant IBAN Standard issued by the Central Bank of UAE, all IBANs have a fixed length of 23 characters.

UAE IBAN FORMAT

• Country Code Check Digit Basic Bank Account Number
• Bank Code Domestic Account Number
• CC CD BBB AAAAAAAAAAAAAAAA
• AE ?? 046 0000000693123456

IBAN has 3 components i.e. the Country Code, the Check Digit & the Basic Bank Account Number.

• The country code (first and the second characters of an IBAN) helps to identify and country where the account is resident. It contains the ISO two letter country code ‘AE’ (the ISO country code for the UAE).
• The Check Digit (third and the fourth characters of an IBAN) helps to verify the IBAN internationally is always generated by a bank in UAE and helps in verifying if the account number is correct or otherwise.
• The IBAN helps to identify an account number of a customer, as well as his bank, domestically. It comprises the Bank identifier (which identifies the account holding bank) and the customer account number. In the case of UAE, the Bank Identifier is the 3 digits following the Check Digits.
• The remaining part of the IBAN is the existing customer account number. The length of the customer account number in the IBAN is fixed as 16 characters. It can ONLY contain numbers (0 to 9)

Yes

Bank will not process those salaries & will return back to employer.

IBAN is the acronym for ISO 13616 standard compliant International Bank Account Number. IBAN is a unique customer account number which can be used confidently in making or receiving payments (excluding checks and credit cards) within the country as well as abroad.

The confidence comes from two sources: the first is the internationally accepted standard for numbering bank customer accounts and the second is the ISO standard methodology for verifying the accuracy of the IBAN

Sl No Beneficiary Account Number Beneficiary Name Amount Bank Code Employee No Special Instructions for Beneficiary Bank

1. AE580460000001111111111 Mr.Altaf 3250.00 046 1 Sal Nov 2011
2. AE850460000001111111111 Mr. Khan 4000.00 046 2 Sal Oct 2012

The field specification is as follows: (Note: No special characters are allowed)
SNO. Field Label Max Size Type Use Remarks

1. Sl No 6 Numeric Mandatory This number must be unique in this file and need not be in any specific occurrence order.
2. Beneficiary account number 23 Alpha Numeric Mandatory The Beneficiary account number (IBAN) must be specified in this field.
3. Beneficiary Name 35 Alpha Numeric Mandatory Special characters including comma not allowed.
4. Amount 9 Numeric Mandatory Valid transaction amount with 2 decimals. Negative & zero value are not permitted. Maximum length is inclusive of decimal values and decimal DOT. Eg: 123456.78
5. Bank code 3 Numeric Mandatory Valid bank code, 2nd, 3rd & 4th digit of the bank 9 digit routing number.
6. Employee number 8 Numeric Mandatory This number must be unique in this file and need not be in any specific occurrence order.
7. Special Instructions for Beneficiary Bank 175 Alpha Numeric Optional.

From 14th April 2012 onwards.

Bank customers, who receive or make electronic payments in UAE or abroad, will require IBAN. If you have more than one account at your bank, you will require an IBAN for each of your accounts.

All banks in UAE having customer accounts which are used for electronic payments are authorized to generate IBAN. No other party is permitted to generate IBAN for bank customers.

Introduction of the IBAN is a strategic initiative that will further align the UAE banking system with the evolving standards applied in other global banking systems. The adoption of IBAN is a step in the direction towards increasing the efficiency of electronic payments in the UAE, while further strengthening the country’s status as a global financial centre.

Each of your account numbers will be converted into IBAN format and you will be informed of the details by your bank. Your bank will also print your IBAN on your bank statement(s) starting 14th April 2012.