esavings  Account FAQs

Who can open an account?
To open an esavings account, you have to be a resident in Qatar and must be over the age of 18.

Can I open a joint account?
No. esavings can only be opened in single names.

How long does the account opening process take?
Given that you have all your details with you, the initial online application process should only be 5 minutes. You will then need to visit your nearest branch to present your Qatar Identification Card and make your initial deposit either in cash or cheque. Once you have presented your required identification and made your initial deposit, your account will be ready to use.

Can I use the branch to open my account?
Yes. Nonetheless, the application to open the Esavings account is only available through the Commercialbank website, so by completing it at the branch will still be done online.

What is the required initial deposit to open the account?
The minimum initial deposit to open the account is QAR 20,000/-

How do I know when my account is up and ready?
Your account number is immediately available at your branch of choice along with an ATM card number and relevant PIN in order to log in to bankDirect Internet Banking. This will be subject to presenting your required identification and after making your deposit within a maximum of 48 hours your account will be accessible online for viewing & transacting. 

Can I make regular deposits into the account?
Yes. The account operates like a normal savings account and you are allowed to deposit any amount at any time at your convenience. Deposits in cash and cheque form can be made over the teller counters at your chosen branch or instead as telegraphic transfers from a third party bank.

How can I make withdrawals?
Withdrawals are preferably made by transferring money online.

Can I make withdrawals through the branches?
Yes. Withdrawals can be made at branches.

Can I make withdrawals through the ATM machine?
No. An ATM card will not be issued for this account.

Can I withdraw any amount?
Yes, except on internet banking where the minimum withdrawal amount is QAR 10,000 and maximum is QAR 100,000 per day. You can withdraw any amount you like from your account subject to above mentioned fee.

How do I find out my balance?
You can view your account balance online through the bankDirect Internet Banking.

Will I receive a statement?
No. But you can view your account history online through the bankDirect Internet Banking up to 6 months old.

What is the required minimum and maximum balance on the account?
There is no minimum and maximum balance on the account required. However, since interest is calculated based on the lowest balance for the month, it is best to keep the balance at a higher amount at all times.

How quickly after I’ve made a transaction on my esavings account will my balance be updated?
Balance on your eSavings will be updated immediately once a transaction has been made on the account.

When is interest paid?
Interest is paid monthly on the 1st business day of the succeeding month.

How will I receive my interest?
Monthly interest will be credited to your esavings account directly.

How is interest on the account calculated?
Interest is calculated and paid monthly based on the lowest balance for the month.

How will I be informed of interest rate changes?
Interest rate changes will be published in the Commercialbank website.