Current Accounts Interest Rates in
Bahrain

Minimum Salary

Interest Rate

Loan Amount

Reducing Rate

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Min Salary

Interest/Profit Rate

Monthly Fee

Minimum Balance

Other Filters

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HSBC Bahrain Current account

Interest Rate

0%

Min Balance to Maintain

BHD 250

Annual Fee

BHD 0

Currency Account

Yes

0%

Interest Rate

BHD 250

Minimum Balance

Yes

Currency Account

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Arab Bank Current account

Min Balance to Maintain

BHD 100

Currency Account

Yes

BHD 100

Minimum Balance

Yes

Currency Account

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Future Bank Current account

Min Balance to Maintain

BHD 150

Minimum Salary

BHD 150

Annual Fee

BHD 0

Currency Account

Yes

BHD 150

Minimum Balance

Yes

Currency Account

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Bank of Bahrain and Kuwait Current account

Min Balance to Maintain

BHD 300

Minimum Salary

BHD 500

Annual Fee

BHD 0

Currency Account

Yes

BHD 300

Minimum Balance

Yes

Currency Account

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Albaraka Bank Current account

Min Balance to Maintain

BHD 20

Annual Fee

BHD 0

Currency Account

Yes

BHD 20

Minimum Balance

Yes

Currency Account

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Current account

Current accounts are widely used among firms, businessmen, companies etc., who make a huge number of regular transactions depending upon their business requirements. While savings account helps in savings, current account aids in having transactions on a regular basis.

Benefits of the current account

  • The current account provides ease of business transactions with demand drafts, free pay orders, and flexibility to transfer funds immediately using NEFT/RTGS.
  • Overdraft facility is the one thing that can be benefited by having a current account. The account holder can overdraw the money from his account at any time to overcome the shortage of his funds. This is a temporary facility provided by the bank and charges may or may not be applicable to this.
  • Sometimes lenders expect to go through your creditworthiness before lending credit to you. In such cases, the process gets simpler if you show them a letter from your bank stating that you are a current account holder.
  • Valid Residence Visa

Current account fees and charges

Some of the documents that are required are:

Annual fees:

Some banks confine to offering a limited number of transactions for free of cost, post to which fees will be charged

Demand draft fees

Fees are charged for issuing demand drafts by some banks

Charges for non-maintenance of minimum balance

Current account usually demands a minimum balance and any person who is not having this minimum balance will be charged with certain fees.

Overdraft processing fees

Overdraft is one of the primary advantages of the current account. Some banks charge a minimum amount if fees for issuing this facility to your account.

Eligibility of current account

  • Minimum balance required to have a current account ranges between BHD 100 and BHD 300 depending upon the bank.
  • A person whose age is 21 and above is eligible to open the account.

Documents required to open the account

  • CPR ( valid identification document).
  • Valid passport.
  • Residence document ( for Non- Bahrains).

Islamic current accounts

Most of the banks provide current account under the supervisory of Islamic principles approved by Shari’a and Supervisory board. Banks also offer free debit cards, internet banking, SMS banking etc.,