SIB Business Accounts
Empower your business and elevate your banking experience with our revamped business banking solutions
Business PLus
An Account with No Minimum Balance
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Business Premium
A Business Account with an average balance requirement of AED 25,000
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Business Platinum
A Business Account with an average balance requirement of AED 100,000
Learn moreSIB MaxPlus Deposit Account
- Profit rate up to 10.50% (36 months tenure) and 5.625% (18 months tenure)
- Finance against your deposit up to 90%
- Access fund anytime without breaking the deposit
Avail exclusive features
- Flexible investment periods from 1, 3, 6, 9 and 12 months
- SMS notifications of account activities
- Online Banking services
- 24-hour call center
A powerful companion on your company's road to success
Whether you are starting or building a new business, our comprehensive financial solutions and product offering for Businesses will help put you on the right path to make the most out of every opportunity.
Grow your wealth
Your success is our own – SIB Corporate Banking solutions will help you achieve your business goals.
FX Rates
Elevate your business with competitive foreign exchange rates.
Business Finance
Offering SMEs Letter of Guarantee, Goods Finance Vehicle Finance and Bonds Finance.
To apply
Eligibility criteria
- Valid Trade License
- Business Plus: Zero minimum balance & monthly maintenance fee of AED 250
- Business Premium: Average monthly balance of AED 25,000
- Business Platinum: Average monthly balance of AED 100,000
Terms and Charges
- View schedule of Fees and Charges
- View Trade Finance schedule of Fees and Charges
- View Deposit Account Key Facts
- View Account Key Facts
- View Terms & Conditions
- View Deposit Rates Report
- For full profit rate details applicable for your Finance, kindly contact the Bank
- View Takaful Insurance Policy
Required documents
- Valid Trade license
- Owners Passport and Emirates ID
- 6 months bank statement (if old Trade License)
- 6 months bank statement of the owner (if new Trade License)
- Commercial registration
- Memorandum and articles of Association (if applicable)
- POA (if applicable) (Original EID & PP of POA)
- Board resolution (if applicable)
- Partnership Deed (if applicable)
The smarter way to bank
Frequently asked questions
What documents do I need to open any of these accounts?
Required documents typically include the following
- Valid Trade license
- Owners/partners (passport and Emirates ID)
- 6 months bank statement (if old trade license)
- 6 months statement of the owner (if new trade license)
- Memorandum and articles of Association (if applicable)
- POA(if applicable)(Original EID & PP of POA)
- Board resolution (if applicable)
- Partnership Deed(if applicable)
Is Online and Mobile Banking available for these accounts?
Yes, all three accounts provide access to Online and Mobile Banking for ease of transactions and account management.
Are there any fees associated with these accounts?
While the accounts offer numerous free transactions and features, fees may apply for additional services or if minimum balance requirements are not met. Please refer to 'Services & Charges - Business'.
www.sib.ae/tariff
Can I upgrade my account from Business Plus to Business Premium or Platinum?
Yes, subject to meeting the eligibility requirements, you can upgrade your account as your business grows.
What should I do if I have more questions about my account?
You may contact your Relationship Manager, call us at 065999999, or visit your nearest branch.
Are there any fees associated with maintaining these accounts?
While there are many free features (such as teller transactions), fees may apply for services beyond the specified limits or if minimum balance requirements are not met. Please refer to Services & Charges - Business: www.sib.ae/tariff
Can I reclassify my Business Platinum account to a Business Premium or Business Plus account?
Yes, you can reclassify your Business Platinum account to either a Business Premium or Business Plus account, subject to certain eligibility criteria.
How often can I request for account reclassification of my account?
Account reclassification can be requested only twice a year, meaning you can change your account classification once every six months.
Will I lose any benefits by reclassification of my account from Business Platinum to Plus?
Yes, account reclassification will result in the loss of certain benefits associated with the Business Platinum account, such as a dedicated Relationship Manager and higher transaction limits.
What is the process for account upgrade or account reclassification?
To request for account upgrade/reclassification, you will need to:
a) Log in to SIB Online Banking Business Account and click on Notifications-Message Center-Compose-and Select- Nature of request-‘Request’, Category type –Account
b) Alternatively, you may contact your Relationship Manager or visit your nearest branch
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