Frequently Asked Questions

Internet Banking, also known as net-banking, web-banking or online banking, is an electronic payment system that enables the customer of a bank or a financial institution to make financial or non-financial transactions online via the internet. This service gives online access to almost every banking service, which is normally available through a local branch including fund transfers, deposits, chequebook request, cheque cancellation and online bill payments to the customers.

Convenience is one of the many benefit of online banking. The need of waiting in long queues at the bank is completely eliminated. Moreover, with mobile banking option available for most banks and major financial institutions, transfers and payments have become easier. We have listed down the top five reasons here.

• Convenience
• Easy to Monitor
• Bill Pay Management
• Direct Deposit
• Money Transfers

Internet banking is definetly 100% safe when your bank uses secure bank technology on the back end and you take security precautions on your end.

Suspended account means you won't have access to any of your money until the situation is resolved. This means you can't take out any money and scheduled payments won't go through.

Each bank has a different time span. If your account is left inactive for a specified period of time it will be declared dormant by the bank, meaning it's inactive or no longer in use. But if there's any money left in it, you can reclaim the funds, by giving proper reason and proof for inactiveness.

Each bank may request for different sets of documnets, as per their policy. Here is the list of common documents,

• Original Passport with about a minimum three months expiry date
• Copy of your visa page (a valid residency visa)
• A salary certificate (NOC) from employer or sponsor
• An original Emirates ID card

This actually differs from bank to bank and no particular figure can be mentioned.

Login to your bank account by internet banking and under the 'My Profile' section, click on 'Edit' Now enter your Email-ID and generate an OTP. Authenticate the OTP you received on your registered mobile number. Click on 'Submit' and you are done.

For any reason the cheque issued by you bounces or dishonored by the concerned bank, it is a criminal offence according to Article 401 of UAE penal law.

Definitely a big YES! Withdrawing cash using a credit card is as simple as withdrawing cash using a debit card from an ATM.

Yes, banks do charge fee the amount various depending on the bank you choose. The ATM withdrawal will show up as a cash advance on your credit card statement. That means the amount of cash you get at the ATM will be subject to an immediate cash advance APR, and usually a cash advance fee.

Prioritizing your spend is the first and important step. Some other tips are,

• Make a note of all the debts to be paid
• Paying the card bill with the least balance
• Getting a credit card with low APR
• Converting outstanding bill to EMIs
• Paying off your bills on a regular basis

Cash withdrawals can’t be converted into installment plans. It’s available exclusively for selective purchase.

It’s is applicable only for the prime card holder.

It entirely depends on the bank you choose.

If you are satisfied with our tie-up service. You should send us a copy of your recent bank statement. Generally, we would guide you on this as soon as you agreed to your purchase.

Some bank sends reminders to avoid this situation. While others do mark you on your credit score. A single missed payment can reduce your credit worthiness.

It totally depends on the bank you choose, Top-up loan can also be availed when you opt for balance transfer (shifting your loan from one lender to another). In either case, you can apply after a repayment track record of minimum 1 year of your existing loan.

It depends on the bank you opt, your income, other debt, and credit score. The better your credit score and the higher your income, the more money you can borrow.

Different banks may ask for different documemts as per their policy. Here is the list of some commonly asked documents,

• Completed application form
• Copy of passport
• Copy of Emirates ID
• Salary transfer letter/ salary certificate
• Bank statements of 3-6 months

The maximum loan tenor for Personal Loan is 48 months. For Ministry of Defense employees, the maximum tenor offered is at 60 months.

A clearance letter, also commonly known as a 'No Liability letter' is a legal document issued by the bank stating that the customer has paid off and settled all outstanding dues.