Starting June 1, several banks in the UAE will increase the minimum balance requirement for account holders from Dh3,000 to Dh5,000, according to a report published by Arabic daily Emarat Al Youm.
The change, which has already been implemented by at least one bank, will impact customers who fail to maintain the revised balance. Those who do not meet the new Dh5,000 minimum will be charged a monthly fee of Dh25.
However, banks have introduced exemptions for customers who hold a credit card or have personal financing with them. These individuals will not be subject to the Dh25 penalty.
The adjustment comes as part of a broader effort by banks to restructure personal banking services and promote the use of additional financial products. While the Dh3,000 threshold had been the standard under the Central Bank’s personal loan regulations, the latest move marks a shift in approach by individual banks.
The change is expected to affect many residents, particularly those with basic salary accounts or limited savings. Financial advisors are encouraging account holders to check with their banks and consider options such as linking credit cards or financing plans to their accounts to avoid extra fees.
Customers are urged to prepare in advance and take necessary steps before the new policy takes effect next month.
