Key Products:
- Emirates NBD Personal Loan: ENBD offers six personal loan options, with interest rates beginning at 2.38%.
- Emirates NBD Credit Card: Multiple credit card types are available, starting at 1.49% interest, requiring a minimum monthly salary of 5,000 AED.
Key Services:
- Wakala Deposits: ENBD provides opportunities to invest in Sharia-compliant financial products.
- Factoring: Businesses can boost cash flow by selling their receivables bills.
Bank Accounts Offered
- Standard Current Account
- Special Current Account
- Savings and Deposit Accounts
- Gold Investment Account
- Value Account
- Business Current Account
- Business Fixed Deposit Account
- Business Call Deposit Account
First Abu Dhabi Bank (FAB)
The First Abu Dhabi Bank (FAB) is the UAE’s largest equity-based bank. It is dedicated to offering customized solutions and products to its customers. With a strong emphasis on a customer-friendly banking experience and supporting shareholders’ financial growth, FAB has gained recognition as one of the best banks in the UAE for both ex-pats and UAE nationals.
With its strong presence in the region, FAB is a leader in the banking sector, known for its innovative digital banking solutions and an extensive network of branches. It has a vast global branch network, providing exceptional customer support and a wide range of banking services.
FAB offers a comprehensive suite of financial services, catering to both corporate and individual customers. These services include Islamic banking, corporate banking, retail banking, and investment banking solutions.
About Bank:
- Total Assets: AED 1.2 trillion (Nov 2023)
- Total Profit: AED 4.3 billion (Nov 2023)
- Employment: 13,684 employees
- Customer Base: over 1.7 million customers
- Helpline: +97142130000
Key Products:
- FAB Credit Card: FAB provides 19 credit card options, each offering a range of benefits to meet specific customer needs. The minimum salary requirement for FAB credit cards ranges from AED 5,000, with interest rates starting at 3.25%.
- FAB Personal Loan: FAB offers a variety of personal loans, including loans for newcomers to the UAE. The interest rate for FAB personal loans starts at 1.62%, with a minimum salary requirement of AED 7,000.
Key Services:
- FAB at Work: FAB supports organizations in their growth by facilitating employees’ onboarding and financial needs, further enhancing its commitment to both corporate and individual customers.
- FAB Accelerator: This service allows you to personalize your banking experience with three choices:
I. Booster
II. Booster Plus
III. Turbo Booster
It requires opening a Current Account with FAB and maintaining a monthly balance transfer of at least AED 15,000.
Bank Accounts Offered
- Bank Accounts
- Current Accounts
- Savings Accounts
- Personal Current Account
- FAB One Account
- Elite Current Account
- FAB Etihad Guest Account
- FAB Etihad Guest Elite Account
- Personal Savings Account
- Elite Savings Account
- Personal Call Account
- Business Call Accounts
- Business Current Accounts
- Business Basic Account
- Business Advantage Account
- Business Preferred Account
- Business Fixed Deposit Term Account
Standard Chartered Bank
Standard Chartered Bank, founded in 1958 in Sharjah, is a major international bank offering both conventional and Islamic banking services in the UAE. It has a wide presence across the UAE. Standard Chartered PLC is a British multinational company that operates worldwide.
Standard Chartered Bank provides a variety of services in Dubai, including personal and trade finance, corporate banking, and wealth management. It is actively involved in financing major projects.
With a growing focus on Islamic banking, Standard Chartered is one of the country’s largest providers of Sharia-compliant financial services, serving corporate and retail sectors, and capitalizing on Dubai’s global business hub status.
About Bank:
- Total Assets: AED 3,088.46 billion (2022)
- Total Profit: AED 3.4 billion (Nov 2023)
- Employment: 83,195 employees
- Customer Base: over 48 million customers worldwide
- Helpline: +971600522288
Key Products:
- Standard Chartered Futura: It is a low-cost lifetime insurance coverage for UAE residents and expats.
- Standard Chartered Xtra Saver Account: It is a high-interest savings account with a 1.2% APY available in USD and AED, featuring an international debit card.
- Global Choice: It is a savings account for children with above-average interest rates.
- Standard Chartered Saadiq Personal Finance: Sharia-compliant personal finance with profit rates starting at 7.55% APY, offering a free chequebook and debit card.
Key Services:
- Priority Banking Service: Users can earn up to 7,000 AED in cashback through this service.
Abu Dhabi Commercial Bank (ADCB)
Abu Dhabi Commercial Bank (ADCB) is a prominent financial institution in Dubai, United Arab Emirates for ex-pats. With 58% of its shares owned by the Abu Dhabi Investment Council, it is a key part of the Abu Dhabi government and stands as one of the top three largest and most trusted banks in the UAE.
ADCB offers an extensive range of banking services catering to local and ex-pat individuals, businesses, and government entities. With a strong commitment to customer satisfaction and a keen focus on digital innovation, ADCB has emerged as the preferred choice for those searching for tailored financial solutions.
About Bank
- Total Assets: AED 537 billion (Nov 2023)
- Total Profit: AED 5.752 billion (Nov 2023)
- Employment: Over 13,000 employees
- Customer Base: over 1.6 million customers
- Helpline: 600 50 2030 (within UAE) or +9712-6210090 (Outside UAE)
Key Products:
Clients can open an ADCB account to avail of the following available products:
- ADCB Business Loan: Entrepreneurs and businesses have access to a wide range of financing options, including
- Loans for equipment financing
- Insta-loans
- Commercial real estate loans
ADCB’s streamlined approval process ensures loans are sanctioned
- With a competitive 17% interest rate
- Within seven days
- With a nominal 2% processing fee
- ADCB Personal Loan: Customers can choose from a variety of personal loan types, such as
- Rental loans
- Ex-pat loans
- Smart finance
These loans offer
- A minimum required monthly salary of 5,000 AED
- Flexible interest rates starting at just 2.89%
Key Services:
- Offshore Accounts: Clients can establish offshore accounts with ADCB, enabling them to hold multiple currencies outside of the UAE, thereby diversifying their financial portfolios.
- Treasury Services: ADCB provides clients with the opportunity to participate in treasury trading, optimizing their financial strategies.
Bank Accounts Offered
- ADCB Current Account
- ADCB Savings & Call Accounts
- Emirati Millionaire Savings Account
- Millionaire Destiny Savings Account
- Active Saver Account
- Fixed Deposit Account
- Upfront Interest Deposit
- Regular Interest Deposit
- Etihad Guest Aspire Account
- Etihad Guest Privilege Account
- Etihad Guest Excellency Account
- Business Current Accounts
- Business Call Accounts
- Business Fixed Accounts
Mashreq Bank
Mashreq Bank is one of the oldest banks in the United Arab Emirates. It holds a long and distinguished history. The bank’s significance in the financial market is evident through its enduring presence.
Mashreq Bank stands out as a leader in technology innovation, consistently introducing advanced digital banking solutions to enhance client satisfaction. This unwavering commitment to innovation has made Mashreq to become one of the country’s most rapidly growing banks.
The bank serves a diverse clientele including ex-pats, offering a complete range of banking services, including retail, treasury, and corporate products.
A notable feature is Mashreq Bank’s innovative smartphone application, showcasing its forward-thinking approach. With the app, users can conveniently send money to over 20 countries without incurring any fees, thus improving financial accessibility and ease of use.
About Bank
- Total Assets: AED 200 billion (Nov 2023)
- Total Profit: AED 5.8 billion (Nov 2023)
- Employment: 5400 employees
- Customer Base: over a million customers
- Helpline: +97144244444
Key Products:
- Mashreq Bank Credit Card: Those with a minimum monthly salary of 7,000 AED can acquire a Mashreq Bank credit card, enjoying a competitive 2.99% interest rate.
- Mashreq Bank Personal Loan: For individuals maintaining a monthly salary of at least 3,000 AED, a range of loans is available with interest rates commencing at just 5.99%.
Key Services:
- Mashreq Neo: As the United Arab Emirate’s premier digital bank, Mashreq Neo distinguishes itself as a branchless institution, offering a host of benefits, including reward points, cashback incentives, and exclusive discounts, enhancing the overall banking experience.
- Islamic Brokerage: Mashreq Bank extends Sharia-compliant brokerage services with its exclusive trading platform, aligning with Islamic financial principles.
- Mashreq Gold: It is a dedicated website offering exclusive privileges for gold customers.
Bank Accounts Offered
- Current Account
- Neo Current Account
- Neo Nxt
- Neo Savings Account
- Mashreq Noon Savings Account
- Money Multiplier Account
- Daily Bonus Account
- Easy Saver Account
- Dream Saver Account
- Non-Resident Indian Account
- Non-Resident Egyptian Account
- Foreign Currency Account
- Fixed Deposit Account
- Unfixed Deposit Account
- Step-Up Deposit Account
- Happiness Account
- Basic Savings Account
- Easy Saver Plus Account
- Gold Edge Investment Account
- Business Select
- Business Platinum
- Business Premium
- The Digital Business Bank
Dubai Islamic Bank (DIB)
Dubai Islamic Bank (DIB), the United Arab Emirate’s largest Islamic bank, has been recognized as the region’s best Islamic bank. Established in 1975, DIB is headquartered in Dubai, UAE. The bank holds the distinction of being the first bank to offer Islamic finance solutions to United Arab Emirates residents that adhere to their values.
DIB’s commitment to Islamic principles is unwavering, making it a trusted institution for local and ex-pat customers seeking ethical banking solutions. The bank offers a wide array of Sharia-compliant financial services and products, including investment banking, retail banking, corporate banking, and wealth management.
About Bank
- Total Assets: AED 313 billion (Nov 2023)
- Total Profit: AED 6,286 million (Nov 2023)
- Employment: 4,233 employees
- Customer Base: over 1.7 million customers
- Helpline: +97146092222
Key Products:
- DIB Personal Loan: Consumers can apply for nine different personal loans with interest rates starting at 6%. Applicants should have a minimum monthly salary of 3,000 AED.
- DIB Credit Card: Various DIB credit cards are available with interest rates ranging from 0% to 3.25% for individuals earning a minimum monthly salary of 5,000 AED.
Key Services:
- Johara Ladies Savings Account: A special Sharia-compliant savings account in AED and USD that offers advanced salary access and bill payment services.
- Islamic Sukuk Investments: DIB Treasury facilitates trading in Sukuks and other Sharia-compliant financial products.
Bank Accounts Offered
- Al Islami Current Account
- Johara Current Account
- Al Islami 2-In-1 Account
- Al Islami E-Savings Account
- Al Islami Savings Account
- Shaatir Savings Account
- Johara Savings Account
- Al Islami Payroll Account
RakBank
RakBank, also known as the National Bank of Ras Al Khaimah, is a favored choice among ex-pat and Dubai residents and businessmen & investors, owing to its excellent customer support, convenient locations, and comprehensive services. It has received notable accolades, including Best Internet Banking and SME Bank of the Year awards.
The bank’s widespread presence in Dubai, with branches in key city areas, ensures easy accessibility for customers. It offers SME banking, retail banking, and wholesale banking solutions for businessmen and entrepreneurs.
RakBank, with 52.75% government ownership, has opened 33 branches across the UAE. The bank gives easy access to customers to its wide range of services, including digital banking solutions, savings & investment accounts, credit cards, and business & personal loans.
About Bank
- Total Assets: AED 72 billion (Nov 2023)
- Total Profit: AED 1.35 billion (Nov 2023)
- Employment: 3256 employees
- Customer Base: over 1.7 million customers
- Helpline: +971 4 213 0000
Key Products:
- RAKBANK Business Loan: Businesses can apply for loans of up to 3 million AED to fund their operations.
- RAKBANK Credit Card: A range of credit cards is available with interest rates between 2.95% and 3.19%, accessible to individuals with a monthly salary of at least 5,000 AED.
Key Services:
- RAKmoney Transfers: The bank offers low-cost international money transfers to the Philippines, Nepal, India, and Sri Lanka, facilitating global financial transactions.
- Business Equipment Finance: Businesses can access financing for construction, medical, & general equipment, and commercial vehicles, helping in their growth and development.
Bank Accounts Offered
- Current Account
- Saving Account
- Business Account
- Deposit Account
- Business Deposit Account
- Business Current Account
- RAKstarter Account
NeoBanks for Expats in Dubai, UAE
Neo-banks are direct banks that operate exclusively online and don’t have any traditional physical branch networks. Thanks to the growing popularity of this banking approach and the advancement in technology, many banks in the United Arab Emirates have started their own online-only banks to make it easier and faster for people to open accounts.
Liv. by Emirates NBD
Liv. is a digital-only bank from the renowned Emirates NBD. It was launched back in 2017. It provides all the standard banking services, including loans, current & savings accounts, debit cards, and credit cards. Customers can use a mobile app to manage all of these services.
Mashreq NEO by Mashreq
Following Liv.’s lead as one of the first neo-banks in Dubai, UAE, Mashreq Bank introduced its own competing platform, Mashreq NEO, in 2017. It aligns with Mashreq’s aim to establish a solid and prominent online presence and offers services similar to other digital banks in Dubai.
Xpence
Xpence is a neobank in the United Arab Emirates that provides bookkeeping and banking services through a single app. The app is suitable and designed especially for entrepreneurs and businessmen. It was created by Saad Ansari, Zain Ansari, Hussain Alherz, and Konstantin Danilkov in 2018. Xpence received the “Best Expense Management Platform in the United Arab Emirates” award from the International Business Magazine in 2022.
