🔁 Salary transfer offers: February 2025 update
- Kacper Duda
- Feb 12
- 4 min read
Last week we covered what to look for in a current account - but did you know you can earn up to AED 20,000 by switching to a new account? It's probably some of the easiest money you'll ever make.
There are currently at least 9 banks in the UAE offering various new customer bonuses. But don't fret - we've done all the hard work so you don't have to spend hours researching. Read on to find out:
How to get a salary transfer offer
Size of the cash bonus you can get based on your salary
Also, in the news: Updates to the mandatory unemployment insurance scheme (ILOE)
Our new "in the news" segment aims to bring you relevant current developments in the UAE personal finance space. You'll find them at the bottom of the newsletter. Let us know if you're enjoying it!
What are salary transfer offers?
Salary transfer offers are a way for banks to attract new customers and encourage them to open a current account, and/or get a credit card and transfer their salaries to that bank.
When you fulfil the requirements of the offer, the bank will credit cashback to your account to reward you for your business. This can be AED 1000s, so it's certainly worth looking into! We've previously covered how they work if you need a refresher.
Best current offers out there
The offers differ based on your salary and whether you are willing to take out a credit card with the bank (in which case the bonus is higher).
HOW TO USE THE TABLES: It's simple - find your salary bracket in each of the tables and you'll quickly see your maximum cash bonus available for you, and which bank(s) offer it. If that's your current bank, head to our full analysis for other options, which cover the majority of UAE banks.
Some of these banks pay additional bonuses if you take out more products, such as Mortgages or Car Loans. For a fair comparison, we focus on salary transfers with a new credit card at most.
BEST Salary transfer + new credit card offers per salary bracket
If CBD is your current bank, head to our full analysis for the next best offer.
Salary range | Bank | Bonus (AED) | Min. card spend (45 days) |
5,000 - 14,999 | 1,500 | 8,000 | |
15,000 - 24,999 | 4,000 | 12,000 | |
25,000 - 49,999 | 5,000 | 12,000 | |
50,000 and above | 20,000 | 12,000 |
* CBD's promotion ends on 31st March 2025, so make sure you get there before it ends.
BEST Salary transfer only offers per salary bracket
If the bank listed next to your salary bracket is your current bank, head to our full analysis for the next best offer.
Salary range | Bank | Bonus (AED) | Valid until |
|---|---|---|---|
5,000 - 7,499 | 250 | 11 May 2025 | |
250 | No known end date | ||
7,500 - 7,999 | 250 | 31 March 2025 | |
250 | No known end date | ||
250 | 11 May 2025 | ||
8,000 - 9,999 | 500 | 11 May 2025 | |
10,000 - 19,999 | 1,500 | 31 December 2025 | |
20,000 - 25,000 | 1,500 | No known end date | |
1,500 | 31 December 2025 | ||
25,001 - 34,999 | 2,000 | 31 March 2025 | |
35,000 - 49,999 | 2,500 | 11 May 2025 | |
50,000 and above | 4,000 | 31 March 2025 |
Let us know if you have seen better offers or think something's not quite right. We always appreciate the feedback.
How to get a salary transfer offer
Each bank will have varying T&Cs for these offers. We always strongly encourage everyone to read and understand them before committing. Below is a high-level summary of what to look out for:
Eligibility - These offers are geared towards new customers, usually defined as not having been a customer in the last 6 or 12 months. However, some of these promotions may be open to existing customers who don't have a credit card or don't yet transfer their salaries.
Obtain the products - Follow the steps in the application process for the product bundle to open the account and/or credit card and put the salary transfer in place. Remember, you will have to meet the criteria for each of the products (e.g. min. salary, credit rating, etc.)
Fulfilment criteria - Once you have the accounts opened, there will likely be additional requirements to meet, such as maintaining a minimum balance, achieving the minimum spend on the credit card and keeping the salary transfers for a number of months. Banks will also have different mechanisms of when and how they credit the cashback to you.
It is essential that you understand the requirements for each of these steps to ensure you get the offer cashback. So read the T&Cs and set yourself calendar reminders for key dates if needed.
IN THE NEWS - ILOE premiums now to be paid for 2 years ahead
If you're employed in the UAE, you should be familiar with the Involuntary Loss of Employment (ILOE) scheme by now. Should you lose your job, the scheme will pay 60% of your basic salary for 3 months.
The scheme is mandatory and it's up to the employee to register. If you fail to register or renew your insurance, you're liable to a fine of AED 400.
As of a recent update, when signing up or renewing your ILOE insurance, you will need to pay premiums for 2 years ahead (whereas previously you could choose monthly, quarterly, half-yearly, or annual). Read about the update on Gulf News.
Disclaimer: Please bear in mind that this email does not constitute financial advice. Any choices you make you are solely responsible for. We always aim to provide highest quality, independent views but do your own research to ensure you’re comfortable with any changes you make to your personal finances.
