Commercial Bank of Dubai: A Leading Financial Institution in the UAE

CBD offers a variety of products and services to its customers, including personal and business banking solutions, loans, insurance, and digital banking. The bank is committed to providing its customers with flexible and secure solutions tailored to their needs.

One notable service that the Commercial Bank of Dubai provides is its mortgage loans. The bank offers a range of mortgage products to help customers easily purchase or refinance their homes. With competitive interest rates and flexible repayment terms, CBD’s mortgage loans are designed to meet the needs of various customers. Additionally, the bank provides expert advice and guidance to help customers navigate the mortgage process and make informed decisions.

Overall, the Commercial Bank of Dubai is a trusted and reliable banking partner for individuals and businesses in Dubai and across the UAE. With a commitment to innovation, customer service, and community engagement, CBD is well-positioned to continue its growth and success in the years to come.

History and Overview

The Commercial Bank of Dubai (CBD) is a UAE-based banking and financial services corporation headquartered in Deira, Dubai. It was established in 1969 by an Emiri Decree issued by His Highness, the late Sheikh Rashid bin Saeed Al Maktoum. Over the decades, CBD has transformed into a progressive and modern banking institution with over US$23 billion in assets.

According to Gulf Business, CBD is the 7th largest bank in the UAE based on total assets. It also figures in the Dubai Financial Market Index. The bank has a strong presence in the UAE, with 27 branches and over 200 ATMs nationwide.

CBD offers various banking products and services to individuals, small and medium-sized enterprises (SMEs), and corporate clients. The bank’s product portfolio includes personal, corporate, investment, and treasury services. CBD is also known for its mortgage loans, which offer competitive rates and flexible repayment options.

Some key highlights of CBD’s mortgage loans include:

• Financing up to 80% of the property value
• Flexible repayment terms of up to 25 years
• Competitive interest rates starting from 2.99% per annum
• Quick and easy application process with minimal documentation

The bank’s commitment to innovation and customer service has earned it several awards and accolades. In 2021, CBD was named the “Best Digital Bank in the UAE” by Global Finance magazine. The bank has also been recognized for its corporate social responsibility initiatives, including supporting education, health, and environmental causes in the UAE.

Personal Banking Services

Commercial Bank of Dubai offers various personal banking services to help customers manage their money, save for the future, and achieve their financial goals. Here are some of the critical services available:

Accounts and Savings

CBD offers a variety of account options to suit customers’ needs, including current accounts, savings accounts, and fixed deposit accounts. With competitive interest rates and flexible terms, customers can choose the account that best meets their financial goals. Additionally, CBD offers a range of savings plans to help customers save for specific goals, such as education or retirement.

Loans and Credit

CBD offers a range of loan and credit options to help customers achieve their financial goals. Customers can apply for personal, car, and mortgage loans with competitive interest rates and flexible repayment terms. CBD also offers credit cards with various benefits, including cashback rewards and discounts on dining and shopping.

Digital Banking

CBD’s digital banking platform allows customers to manage their accounts and finances from anywhere, at any time. Online banking lets customers view account balances, transfer money, pay bills, and more. CBD’s mobile banking app offers even more convenience, with features like mobile check deposit and account alerts.

CBD also offers a range of insurance products to help customers protect their financial future, including life, health, and travel insurance. With a focus on customer service and convenience, CBD is a trusted partner for customers’ personal banking needs.

Corporate and Wholesale Banking

Commercial Bank of Dubai offers various business solutions to help corporate clients manage and grow their businesses. With a dedicated team of experienced Relationship Managers, CBD provides tailored services to meet clients’ unique needs.

Business Solutions

CBD’s Business Solutions include a range of accounts and services designed to meet the needs of businesses of all sizes. CBD has everything businesses need to manage their finances, from basic checking accounts to advanced cash management solutions.

Some of the critical features of CBD’s Business Solutions include:

• Free online banking and mobile banking
• Convenient access to cash through a network of ATMs and branches
• Competitive interest rates on deposit accounts
• Flexible business loans with competitive interest rates

Corporate Finance

CBD’s Corporate Finance team provides various financing solutions to help businesses achieve their goals. Whether it’s financing for new equipment, working capital, or expansion, CBD has the expertise and resources to help.

Some of the critical features of CBD’s Corporate Finance services include:

• A dedicated Relationship Manager to help businesses navigate the financing process
• Competitive interest rates and flexible repayment terms
• A range of financing options, including term loans, lines of credit, and commercial mortgages

Wealth Management

CBD’s Wealth Management team provides various wealth solutions to help clients achieve their financial goals. CBD has the expertise and resources to help clients build and protect their wealth from investment management to retirement planning.

Some of the key features of CBD’s Wealth Management services include:

• A team of experienced Wealth Managers to help clients navigate the complex world of investing
• A range of investment options, including mutual funds, ETFs, and individual stocks and bonds
• Retirement planning services, including 401(k) plans and IRAs

Commercial Bank of Dubai is a trusted partner for businesses looking to manage and grow their finances. With a wide range of corporate and wholesale banking services, CBD has everything businesses need to succeed.

Digital and Branch Services

Internet and Mobile Services

Commercial Bank of Dubai offers a range of Internet and mobile banking services that allow customers to manage their finances from anywhere, at any time. These services enable customers to check their account balances, view transaction history, pay bills, transfer funds, and more. The bank’s Internet and mobile banking platforms are easy to use, secure, and available 24/7.

Some of the critical features of CBD’s Internet and mobile banking services include:

• Secure login with two-factor authentication
• Quick and easy bill payments
• Easy transfers between CBD accounts or to other banks
• View and download e-statements
• Manage credit card payments and transactions
• Set up alerts for account activity

ATM and Branch Network

CBD has a network of branches and ATMs across the UAE, providing customers with easy access to banking services. The bank’s branches are in Abu Dhabi, Dubai, and Sharjah, while its ATMs are in various locations nationwide.

Some of the critical features of CBD’s ATM and branch network include:

• Access to cash withdrawals, deposits, and transfers
• 24/7 availability of ATMs
• Personalized service at branches
• Mortgage loans with competitive interest rates and flexible repayment options
• Assistance with opening new accounts and managing existing ones

CBD’s ATM and branch network is designed to provide customers with convenient and reliable access to banking services. Whether customers need to withdraw cash, deposit a cheque, or get assistance with a banking issue, they can rely on CBD’s extensive branches and ATMs.

Security and Support

Protecting Your Accounts

Commercial Bank of Dubai takes the security of its customers’ accounts seriously. It uses strong measures to protect against unauthorized access to your account and financial information, ensuring that payments are processed on the dates and for the dollar amounts you select. The bank also has various security features, including two-factor authentication, to help keep your accounts safe.

When you visit a Commercial Bank of Dubai branch, you can be assured that your transactions are secure. The bank has implemented strict security measures, such as CCTV cameras and security personnel, to protect your privacy. Additionally, the bank uses secure encryption technology to safeguard your data when you transact online.

Customer Assistance

Commercial Bank of Dubai offers various customer assistance services to ensure you can easily access your accounts and receive support when needed. You can visit any bank branch to speak with a representative or use the bank’s phone banking and SMS banking services to manage your accounts remotely.

The bank’s customer care center can address any queries or concerns from 9:00 AM to 8:00 PM. If you need urgent assistance, call the center at 600 575 556 (within the UAE) or +971 600 575 556 (outside of the UAE) to speak with a representative who can help you immediately.

If you are interested in mortgage loans, Commercial Bank of Dubai offers a range of options to suit your needs. You can choose from fixed or variable interest rates, and the bank offers competitive rates and flexible repayment terms. Additionally, the bank has a team of mortgage specialists who can help you navigate the process and find the right loan.

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Frequently Asked Questions

What are the requirements for opening a business bank account with CBD?

To open a business bank account with CBD, you must provide your company’s business documents and the previous six months of bank statements from the shareholder’s current company (if applicable), and each shareholder must also provide a personal bank statement. Additionally, you must supply proof of address and identification documents for all shareholders and authorized signatories.

How does CBD rank in terms of assets among UAE banks?

According to recent reports, CBD is one of the leading banks in the UAE in terms of assets. As of 2021, CBD ranks as the fourth-largest bank in the UAE in terms of assets.

What are the features of CBD’s credit card offerings?

CBD offers a range of credit cards with various features, including cashback rewards, travel benefits, and exclusive offers. Some credit cards CBD provides include the CBD Visa Infinite Credit Card, CBD Visa Signature Credit Card, and CBD Visa Platinum Credit Card.

How can I get in touch with customer care for CBD?

CBD offers customer care services through various phone, email, and live chat channels. Customers can call the customer care center at 800 223, email at [email protected], or use the live chat feature on the CBD website.

What are the career opportunities available at CBD?

CBD offers a range of career opportunities across various departments, including finance, marketing, human resources, and more. Interested candidates can visit the CBD careers page on the company’s website to learn more about available positions and apply online.

What is the required minimum balance for a CBD salary account?

CBD does not require a minimum balance for its salary account. However, customers must maintain a minimum average balance of AED 3,000 to avoid any monthly fees.

Regarding mortgage loans, CBD offers competitive rates and flexible repayment options. Customers can choose from various mortgage products, including fixed-rate and adjustable-rate mortgages. Additionally, CBD offers pre-approved mortgages and mortgage refinancing options.