National Bank of Fujairah launches new account for SMEs, startups

National Bank of Fujairah (NBF) has announced the launch of the NBF Lite Bank Account for startups and small-and-medium-enterprises (SMEs) operating in the country.

The new offering will cater to the needs of flexi-desks and co-working businesses in select free zones. The Lite Account will also offer startups with exclusive banking services, to help them build their network, connect with peer companies and identify growth opportunities.

Rehan Ali, NBF’s head of business banking, said: “With business banking at its core, NBF aims to unlock emerging opportunities for startups and SMEs through tailored digital banking offerings and leverage the growth opportunities that lie in the UAE. The NBF Lite Bank Account is testament to our commitment to building long-lasting partnerships with entrepreneurs and business owners.”

SME and startup customers will need to maintain a monthly average balance of Dhs10,000 to open an NBF Lite Account, with new customers having the opportunity to avail free maintenance cost for the first 3 months, a statement said.

Business owners and entrepreneurs can login to NBF Connect, complete the online digital form, upload the documents and submit the application.

Last year, NBF launched banking products – the ‘Ahlan’ SME account and the ‘OneStop’ business account – tailored to SMEs. The lender had also launched NBF Connect, a banking platform for SMEs, offering access to a set of services and solutions.

Last year too, NBF announced the launch of its electronic trading platform – NBFX.

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