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8 Best banks in UAE
If you’re looking for best banks in UAE, you have plenty of choices. There are some strong local banks, regional banks, and global banking giants all operating in the UAE.
Each has its own features and benefits, so choosing the right one for you will require some research.
In this article, you will discover the top 8 banks, and some of their most popular accounts and credit card options. Read through to discover what makes these banks so great and why might need to consider opening an account with one of them.
Best Banks in UAE:
Here is the list of top 8 banks in UAE:
3. Abu Dhabi Commercial Bank ADCB
1. First Abu Dhabi Bank:
The First Abu Dhabi Bank, a part of the FAB Group, is the largest bank in the UAE, and stands out as one of the largest in the world.
Safety drives every activity, interaction, and transaction at this bank. Understanding the importance of a positive customer experience means that the banking products available have been tailor-made to offer unique solutions.
Most Popular Accounts:
FAB One Account
When seeking benefits and rewards for all your transactions, this is the account you should choose. Through the FAB mobile app, this account can be opened instantly. The benefits you receive can be accumulated each time you spend using a debit card, and even for the funds that are retained within your account.
- Opening requirement is a monthly income of at least AED 10,000.
- No minimum balance charges
- You get a free Platinum Mastercard Debit card.
FAB Etihad Guest Elite Account
This hybrid accounts bring together banking and travel through convenience and rewards. With this account, each time that you travel and spend using your debit card, you earn miles and are eligible to receive travel awards. For added convenience, you can open this account using the FAB Mobile app.
- Opening requirement is a monthly income of at least AED 50,000.
- No minimum balance requirement and for every AED 1,000 on your average monthly balance
- You earn three Etihad Guest Miles
Most Popular Credit Cards:
FAB Cashback Credit Card
This unique credit card gives you 5% cashback on your fuel, groceries, and utilities.
- Minimum Salary AED 5,000
- Annual Fees AED 315
- Airport Lounge Access
- Movie Discounts
Abu Dhabi Titanium Credit Card
Anyone looking to stand a chance to win big every time they spend will appreciate this card. The big-ticket items include an Audi Q5 as well as dream holidays.
- Minimum Salary AED 5,000
- Annual Fees AED 500
- Cashback
- Lounge Access
- AVIS Car Rental Discounts
- Discounted Rides with Careem
FAB has 630 ATMs in the UAE
Total Assets AED 919 billion – Net Profit AED 10.6 billion
Google Store Rating: 4.1 (as of Q4 2021)
Mobile App Download Links:
2. Emirates NBD:
In 1963, the Emirates NBD bank was formed following the Charter of Incorporation of the National Bank of Dubai.
It was the first National Bank and a leader in the region, later merging with Emirates Bank International in 2007 to become Emirates NBD. This bank focuses on retail banking and is a pioneer in the global digital banking industry. Emirates NBD has more than 905 branches across 13 countries.
Emirates NBD is the 2nd largest bank in the UAE and 4th largest bank in GCC.
Most Popular Accounts:
Gold Investment Account
The Gold Investment Account from Emirate NBD caters to anyone looking for the easiest way to invest in gold. It delivers convenience as there is no need to have and store gold physically, yet all the benefits of having savings in gold are available to customers. Existing customers can open gold accounts conveniently online, while new customers should call or visit their closest bank.
The account opening requirements for existing customers are minimal as no additional documentation, or minimum amount is necessary. Simply log in to the online banking platform to create the account.
- Starting from AED 500
- No Debit Card, cheque book, withdrawals, or fund transfers
- Non-interest bearing account
Current Account
The current account from Emirates NBD is ideal for anyone seeing a flexible bank account with a host of benefits. The features of the account allow for a personalized banking experience to suit the everyday banking needs of its customers.
- Minimum balance of AED 3000
- Free local and international remittances.
- Free debit card and cheque booking facility.
- Bill payment facilities across a wide range of services
Most Popular Credit Cards:
Go4it Gold Credit Card
With this credit card, you can earn 5 plus points every time that you spend AED 400.
- Minimum salary required is AED 6,000.
- Annual Fees AED 99
- Free movie tickets & free rides on the Dubai Ferry.
- Complimentary life insurance.
- Points earned can be redeemed immediately or could be converted into frequent flyer miles or cashback benefits.
Mastercard Platinum Credit Card
This reward-based card features a wide range of special perks and privileges that can suit any lifestyle. Some of these include airport lounge access, restaurant discounts, and global golf privileges.
- Minimum salary requirement is AED 12,000.
- No Annual Fees
- Cashback
- Airport Lounge
- Free airport transfers, car maintenance pick up & delivery, local courier services.
Emirates NBD has 369 ATMs in the UAE
Total Assets AED 698 billion – Net Profit AED 6.96 billion
Google Store Rating: 3.9 (as of Q4 2021)
Mobile App Download Links:
3. Abu Dhabi Commercial Bank ADCB:
The Abu Dhabi Commercial Bank (ADCB) is an excellent bank for customers seeking a full range of commercial products and services.
Its extensive product range includes retail banking, private banking, commercial banking, corporate banking, and investment banking. Other services offered include wealth management, cash management, property management, as well as corporate finance, and foreign exchange.
Most Popular Accounts:
Millionaire Destiny Savings Account
ADCB is determined to create 1 millionaire each month worth AED 1 million and twice a year worth AED 2 million. This is possible with this account, where millionaire winners are announced each month.
- Minimum balance of AED 5,000 for eligibility to the prize-draws and no penalties if you choose to withdraw your funds at any time.
- No lock-in period and no penalty for withdrawals
- Earn profit from your savings; this is declared and paid quarterly
- Every additional AED 1,000 saved over the initial AED 5,000 grants you an extra chance in the prize draws
Active Saver Account
ADCB Active Saver Account offers a higher rate of interest on your finances that allows you to reach your savings goals at a faster pace.
- Five accounts can be opened for 5 different goals
- Up to 0.6% Maximum Interest Earned
Per Annum On AED Accounts
- Up to 0.35% Maximum Interest Earned
Per Annum On USD Accounts
Most Popular Credit Cards:
TouchPoints Infinite Credit Card
This is a fantastic lifestyle credit card that offers a world of infinite possibilities and rewards. Some of these rewards include:
- Free VOX Cinema tickets
- Hotels.com vouchers that are redeemable anywhere in the world
- Talabat offers.
- Minimum salary required to get this card is AED 40,000.
- Annual Fees is AED 1,050
Betaqti Credit Card
This is a unique credit card that is exclusively available to Emiratis. It offers a host of attractive benefits, including:
- Free VOX Cinema tickets
- Free Caribou Coffee
- Complimentary access to over 1000 airport lounges around the globe, and complimentary access to Gold’s Gym in the UAE.
- Minimum requirement is monthly earnings of AED 5,000.
ADCB has 158 ATMs in the UAE
Total Assets AED 411 billion – Net Profit AED 3.8 billion
Google Store Rating: 4.0 (as of Q4 2021)
Mobile App Download Links:
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4. Mashreq Bank:
With more than fifty years of experience as a leading financial institution in the UAE, Mashreq Bank stands out for offering quality and high performance.
The bank is also present in Africa, Europe, Asia, and the US. This is also the only privately-owned bank in the United Arab Ghurair Group of business institutions.
Most Popular Accounts:
Happiness Account
The Happiness Account is an excellent starter account for anyone starting to explore the world of banking products. There are plenty of rewards and benefits with this account, including the chance to get up to AED 2000.
- Minimum Salary of AED 10,000
- No minimum balance to maintain
- No monthly or annual fees
Dream Saver Account
With Mashreq Bank, you can use your bank account to help you realize your dreams faster. This account offers the opportunity to save and earn a high-interest rate as well. With this account,
- 1% Annual fixed interest paid every month
- No minimum requirement for opening the account
Most Popular Credit Cards:
Solitaire Credit Card
With this lifestyle credit card, you receive a host of benefits and can earn Salaam points every time you spend. These benefits include:
- unlimited visits to Fitness First for free,
- Complimentary access to over 900 airport lounges
- 6 complimentary golf games per billing cycle at select UAE golf clubs.
- Minimum salary to get this card is AED 25,000.
Noon VIP Credit Card
For instant access to the best shopping, this is the card to choose.
- No annual fee and a direct link to noon.
- If this is your first credit card with the bank, you will receive a gift of AED 500.
- Cashback benefits on all your spending.
- AED 7,000 is the minimum salary required to get this card.
Number of ATMs:
Mashreq has 398 ATMs in the UAE
Total Assets AED 158 billion – Net Profit AED -1.2 billion
Google Store Rating: 4.0 (as of Q4 2021)
Mobile App Download Links:
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5. Dubai Islamic Bank:
Established in 1975, the Dubai Islamic Bank is a unique entity that operates on Islamic Banking and financial inclusion principles. This is possible through the incorporation of interest-free banking and Shariah compliance.
Most Popular Accounts:
Al Islami 2-in-1 Account
When you want the best of both worlds, you should choose the Al Islami 2 in 1 account. This account combines the benefits from both current account convenience and savings account profitability.
- Min Balance to open and maintain is AED 3,000
- Free bill payments facilities
- Free Cheque Book
Johara Current Account
The Johara Current Account is a good starter account for anyone seeking a bank account that meets their every banking needs. This account comes with a debit card that you can use around the globe.
- Requires AED 3000 as the opening balance.
- Pay utility bills.
- You can also take advantage of the salary in advance facility when you have unforeseen financial emergencies.
Most Popular Credit Cards:
Consumer Platinum Card
- Minimum salary of AED 15,000.
- Every time you spend using this card, you can earn up to 4% cashback on your purchases. This applies to retail shopping as well as paying bills.
- Through the cash-backs, you can earn up to AED 1,000 each month.
Al Islami Internet Credit Cards
This card is specially created for anyone seeking a safe and secure way to make payments when shopping online. It is a secondary card that links to the Al Islami card, allowing for ease of tracking. With a restriction of 20% of your overall primary card limit, you can minimize your overall risk exposure with this card.
DIB has 414 ATMs in the UAE
Total Assets AED 289.5 billion – Net Profit AED 3.2 billion
Google Store Rating: 3.8 (as of Q4 2021)
Mobile App Download Links:
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6. Standard Chartered Bank:
The Standard Chartered Bank is a leading financial institution with an international presence and a 150-year history.
The first branch of the bank in the UAE was opened in 1958. A wide range of services is available from the bank, including private, corporate, retail, and commercial banking services.
The range also includes Islamic banking products. Customers seeking a bank with a solid international reach will appreciate that this bank has reach in Africa, the Middle East, Europe, and Asia.
Most Popular Accounts:
Current Account
When you want quick, convenient banking that uses all the major currencies globally, choose the Current Account at Standard Chartered Bank. You can carry out an unlimited number of transactions each month. In addition, there are other benefits of having this account, including the higher daily withdrawal limits across the wide range of ATMs, The minimum initial deposit required to open the account is AED 10,000, and there are no monthly service charges on this account.
XtraSaver Account
With the XtraSaver Account, the money you put into the bank for savings can earn attractive interest using the 0.60% p.a. rate.
- Available in AED or USD currencies.
- Minimum deposit of AED 3,000.
- Contactless debit card so that you can always access your funds when you need them.
- The minimum average monthly balance is zero.
Most Popular Credit Cards:
Visa Infinite Credit Card
With every spend, you receive reward points with this card. The Visa Infinite is a rewards card that also includes a complimentary round of golf each month, access to Fitness First clubs, and medical and travel insurance as just some of the benefits. To qualify for this card, you need a minimum salary of AED 30,000.
Manhattan Rewards + Credit Card
- Earn points when you are spending both locally and internationally.
- Access to over 1000 airport lounges in more than 300 cities.
- Minimum salary of AED 8,000.
Standard Chareted has 31 ATMs in the UAE
Total Assets $789 billion – Net Profit $751 Million
Google Store Rating: 3.4 (as of Q4 2021)
Mobile App Download Links:
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7. HSBC:
As a bank, HSBC serves more than 40 million customers from all around the world. The main banking services on offer from HSBC include Commercial Banking, Personal Banking, Global Banking, and Markets. This bank focuses on revealing to customers the wide range of opportunities from banking options.
Most Popular Accounts:
HSBC Personal banking Account
This is a bank account for any customer seeking rewards and lifestyle. There is no minimum balance required for this account if you earn more than AED 5,000 each month. Furthermore, there are many free services available, including cash withdrawals at ATMs within the UAE, international money transfers, overdrafts for up to 1 salary multiple, and a checkbook.
Global Money Account
With this account, you can transact in up to 21 currencies, saving you from opening multiple accounts. This is the ideal solution for international transactions which are instant and fee-free. It is also possible to make quick payments using the phone numbers of your recipient.
Most Popular Credit Cards:
Zero Credit Card
Customers like this card as it offers rewards right from the moment that you begin to use it.
- No fees charged for card membership,
- 0% interest when you make purchases for the first three months.
- No annual fee charged for this card.
- Minimum monthly salary of AED 10,000.
Platinum Select Credit Card
This is an excellent card if you are seeking support for your lifestyle spending and entertainment.
- Air miles rewards.
- Exclusive dining packages, cinema privileges, and Agoda discounts.
- Minimum monthly salary of AED 10,000 in your HSBC Personal Banking Account.
HSBC has 92 ATMs in the UAE
Total Assets $2.9 Trillion – Net Profit $6.1 Billion
Google Store Rating: 4.6 (as of Q4 2021)
Mobile App Download Links:
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8. Commercial Bank of Dubai:
The Commercial Bank of Dubai (CBD) focuses on financial inclusion by consistently developing intelligent, innovative, and client-focused banking products and services.
There is an extensive range of financial services to choose from so that customers can significantly build and manage their finances. There are personal, business, wholesale, and Islamic banking services available.
Most Popular Accounts:
Savings Account
With any major currency, you can receive attractive returns through the CBD Savings account. Like a savings account, there are a host of benefits you can experience with this bank. These include a free debit card. In addition, this account is easy to maintain due to the low minimum monthly balance for the account.
CBD Digi Account
The ideal instant digital account that takes online minutes to create. There is no minimum balance required to open this account. There are a range of free features, including free remittances, free salary transfers, and free debit cards. You can also accumulate smiles points redeemable when making bill payments, purchases, or even savings.
Most Popular Credit Cards:
CBD Super Saver Credit Card
With this card, you can enjoy fantastic cashback opportunities. In the first year, you will receive a waiver on the annual fee. You can also share with the family through the supplementary card option. Use the card to pay your bills, education, supermarket shopping, and transport. To get this card, you need to have a minimum monthly salary of at least AED 5,000.
Credit Shield Credit Card
With this card, you discover how you can avert risk and protect your family from any unforeseen events. At an affordable price, you can get maximum coverage. The monthly premium is 1% of your monthly credit card outstanding balance. As this is a supplementary card, you need to ensure you have a CBD primary cardholder before you apply.
CBD has 155 ATMs in the UAE
Total Assets AED 97 Billion – Net Profit AED 1.1 Billion
Google Store Rating: 4.5 (as of Q4 2021)
Mobile App Download Links:
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Bottom Line:
Since the competition among banks is high, it’s difficult to say that a certain bank is “the best bank in UAE”. This completion results to a high-quality products and services for both locals and expats.
However, when it comes to choosing your bank, you need to understand your needs, and look for the bank that provide accounts, cards and products that meet your requirements.
