UAE Central Bank Halts Hike in Minimum Balance Requirement

Several major banks in the UAE had planned to raise the minimum balance required for personal bank accounts from Dh3,000 to Dh5,000, starting June 1. But now, the UAE Central Bank has ordered all banks to stop this change until further notice.

The Central Bank issued a circular to all banks, saying it wants to carefully study how this increase could affect customers before allowing any updates. The decision came after many people shared concerns about the new rule on social media and in the news.

At least one bank had already started charging customers up to Dh105 per month if they didn’t meet the Dh5,000 minimum balance.

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According to the paused rule, if a person didn’t maintain the Dh5,000 in their account, they would be charged Dh25 monthly. Some banks were even planning to increase this penalty to Dh100 or more depending on the account type.

However, there were certain conditions that could exempt customers from the charge. These included:

• Receiving a monthly salary of at least Dh15,000
• Maintaining a total account balance of Dh20,000 or more
• Having an active loan, credit card, or overdraft with the bank

People who didn’t meet any of these conditions—especially those with lower salaries—would have automatically faced the fee. This caused worry among customers, especially small business owners and low-income earners, who said the hike would be a burden.

The Central Bank’s move to pause the change has brought some relief. For now, the minimum balance will remain Dh3,000, and banks are not allowed to raise it until the Central Bank completes its review.