National Bank of Fujairah launches NBF Lite Bank Account for SMEs

By Leandra Monteiro

National Bank of Fujairah (NBF) PJSC announced the launch of the NBF Lite Bank Account to provide the benefits of digital banking solutions to startups and SMEs in the UAE. The new offering is designed to suit the needs of flexi desks and co-working businesses in select free zones.

The NBF Lite Bank Account is a one-stop solution for SMEs aimed at providing the benefits of digital banking solutions to entrepreneurs. A offering from the NBF digital platform ‘NBF Connect’ dedicated to SMEs, the Lite Account provides start-ups with exclusive banking services, while helping them build their network, connect with like-minded SMEs and discover avenues of growth.

Commenting on the launch of the new product, Rehan Ali, National Bank of Fujairah, Head of Business Banking said, “Since its inception, NBF has positioned itself as the preferred financial partner for businesses in the UAE. We have always believed in supporting businesses grow by leveraging our cross-sectorial expertise, as well as range of products and services. The banks boasts a solid track record of supporting the burgeoning SME ecosystem in the country in line with the UAE’s vision and vibrant entrepreneurial spirit. With business banking at its core, NBF aims to unlock emerging opportunities for start-ups 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.”

To open an NBF Lite Account, SME and start-up customers will need to maintain a monthly average balance of only AED 10,000, and new customers will get to avail free maintenance cost for the first 3 months, and more. Business owners and entrepreneurs can follow three simple steps to open the account by logging on to NBF Connect and follow the process of completing the digital form online, uploading the required documents, and submitting the application to receive the acceptance confirmation.