All banks in the UAE must adhere to the following restrictions set by the Central Bank:

Bank Account Fees

Account opening fees: None
Minimum balance: Maximum of AED 3,000
Monthly minimum balance penalty: AED 25
New cheque book: Maximum AED 25 (first one is free)
Standing order setup: Maximum of AED 50
Standing order payment dishonored: AED 25
Manager’s cheque issue fee: AED 30
Acccount balance letter: AED 50
No liability certificate: AED 100
Release letter: AED 50
Bounced cheque fee: AED 100 (no charge if cheque written to yourself)

Credit Cards

Only customers earning a monthly salary of at least AED 5,000 (annual salary of AED 60,000), or customers who provide a pledged deposit of at least AED 60,000 can be issued credit cards.

Auto Loans

The maximum loan amount is 80% of the value of the vehicle, with a maximum repayment period of 60 months (5 years).

The overall total limit on monthly repayments is 50% of a borrower’s net income, including salary and any other revenue. This includes personal loans, credit card repayments, home mortgages, car loans and any other financing.

Personal Loans

The maximum loan amount allowed is 20 times the monthly salary of the borrower, with a maximum repayment period of 48 months (4 years).

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Overview of Banking in the UAE