Complete Guide to Banking in Dubai Including Account Opening, Fees, Online Services and Islamic Banking
Advertisement
Ad Space - Google AdSense
Dubai offers a wide range of personal banking options for residents and expats. From traditional banking giants to digital-only challengers, you'll find banking solutions to suit every need and lifestyle.
Largest banking group in the UAE
Emirates NBD is the largest banking group in the UAE with an extensive network of branches and ATMs. It offers a comprehensive range of personal banking services and has invested heavily in digital banking capabilities.
Premium account with dedicated relationship manager
Min. Balance: AED 100,000
Standard account with full banking services
Min. Balance: AED 5,000
Digital-only banking for millennials
Liv. is Emirates NBD's digital-only bank designed specifically for millennials and digital natives. It offers a simplified banking experience with lifestyle benefits and a user-friendly mobile app.
Basic digital account with lifestyle benefits
Min. Balance: AED 0
Savings account with competitive interest rates
Min. Balance: AED 0
Abu Dhabi Commercial Bank
ADCB is one of the largest banks in the UAE, known for its competitive products and strong customer service. It offers a wide range of personal banking services with attractive benefits.
Everyday banking with rewards
Min. Balance: AED 5,000
Premium banking with enhanced benefits
Min. Balance: AED 200,000
Oldest private bank in the UAE
Mashreq is the oldest private bank in the UAE and is known for its innovative digital banking solutions. It offers a wide range of products with competitive features and fees.
Digital banking platform with zero minimum balance
Min. Balance: AED 0
Premium banking with lifestyle benefits
Min. Balance: AED 100,000
Advertisement
Ad Space - Google AdSense
Dubai is a global hub for Islamic finance, offering a wide range of Sharia-compliant banking products and services. Islamic banks in Dubai operate according to Islamic principles, avoiding interest (riba) and focusing on ethical investments.
First Islamic bank in the world
Dubai Islamic Bank (DIB) was the world's first Islamic bank and remains one of the largest Islamic financial institutions. It offers a comprehensive range of Sharia-compliant banking products and services.
Sharia-compliant everyday banking
Min. Balance: AED 3,000
Profit-earning savings account
Min. Balance: AED 3,000
Leading Islamic financial institution
Abu Dhabi Islamic Bank (ADIB) is a leading Islamic financial institution with a strong presence in Dubai. It offers innovative Sharia-compliant banking solutions with competitive features.
Digital account with zero minimum balance
Min. Balance: AED 0
Savings account with prize draws
Min. Balance: AED 20,000
Islamic banking arm of Emirates NBD
Emirates Islamic is the Islamic banking subsidiary of Emirates NBD Group. It combines the strength and resources of its parent company with specialized Islamic banking expertise.
Sharia-compliant everyday banking
Min. Balance: AED 3,000
Savings account with monthly prize draws
Min. Balance: AED 5,000
Advertisement
Ad Space - Google AdSense
Dubai's status as a global business hub is supported by robust business banking services. From startups to multinational corporations, Dubai's banks offer specialized solutions for businesses of all sizes and sectors.
Comprehensive business banking solutions
Emirates NBD offers comprehensive business banking solutions for companies of all sizes, from startups to large corporations. It provides a wide range of services tailored to business needs.
For SMEs and startups
Min. Balance: AED 50,000
For medium-sized businesses
Min. Balance: AED 250,000
SME-focused business banking
RAKBANK is known for its strong focus on small and medium enterprises (SMEs) and offers specialized business banking solutions tailored to their needs. It provides competitive rates and flexible terms.
Basic business banking
Min. Balance: AED 20,000
For new businesses and startups
Min. Balance: AED 0 (first year)
Specialized commercial banking services
Commercial Bank of Dubai (CBD) offers specialized banking services for businesses with a focus on trade finance, cash management, and corporate banking solutions. It provides tailored services for different industry sectors.
Standard business banking services
Min. Balance: AED 50,000
Specialized for import/export businesses
Min. Balance: AED 100,000
Advertisement
Ad Space - Google AdSense
Dubai hosts numerous international banks that offer services tailored to expatriates and those with global banking needs. These banks provide seamless cross-border banking, multi-currency accounts, and international wealth management services.
Global banking with local expertise
HSBC offers comprehensive international banking with global account access, multi-currency capabilities, and wealth management services. Ideal for expatriates who need banking services across multiple countries.
Premium global banking services
Min. Balance: AED 350,000
Enhanced banking with international benefits
Min. Balance: AED 100,000
International banking with Asian and African focus
With a strong presence across Asia, Africa, and the Middle East, Standard Chartered offers international banking solutions with seamless cross-border services and specialized expatriate packages.
Premium international banking services
Min. Balance: AED 300,000
Standard international banking
Min. Balance: AED 3,000
American banking with global reach
Citibank offers premium international banking services with global account access and wealth management. Their Citigold service provides personalized financial solutions for high-net-worth individuals.
Premium wealth management services
Min. Balance: AED 350,000
Enhanced banking with global benefits
Min. Balance: AED 100,000
Compare key features and requirements across Dubai's top banks to find the best option for your needs.
| Bank | Type | Min. Balance (Basic) | Min. Balance (Premium) | Digital Banking | International Transfers | Best For |
|---|---|---|---|---|---|---|
| Emirates NBD | Personal | AED 5,000 | AED 100,000 | ★★★★★ | ★★★★☆ | UAE residents, comprehensive services |
| Liv. (ENBD) | Digital | AED 0 | N/A | ★★★★★ | ★★★☆☆ | Young professionals, digital natives |
| ADCB | Personal | AED 5,000 | AED 200,000 | ★★★★☆ | ★★★★☆ | Professionals, rewards program users |
| Mashreq Bank | Personal | AED 3,000 | AED 100,000 | ★★★★★ | ★★★★☆ | Tech-savvy customers, innovation seekers |
| Mashreq Neo | Digital | AED 0 | N/A | ★★★★★ | ★★★☆☆ | Digital-first customers, zero balance |
| Dubai Islamic Bank | Islamic | AED 3,000 | AED 100,000 | ★★★★☆ | ★★★☆☆ | Sharia-compliant banking customers |
| ADIB | Islamic | AED 0 (Express) | AED 3,000,000 | ★★★★☆ | ★★★☆☆ | Islamic banking with digital features |
| Emirates Islamic | Islamic | AED 3,000 | AED 100,000 | ★★★★☆ | ★★★☆☆ | Islamic banking with ENBD network |
| Emirates NBD Business | Business | AED 50,000 | AED 250,000 | ★★★★☆ | ★★★★★ | Established businesses, corporates |
| RAKBANK Business | Business | AED 20,000 | AED 100,000 | ★★★☆☆ | ★★★☆☆ | SMEs, startups, lower balance needs |
| Commercial Bank of Dubai | Business | AED 50,000 | AED 100,000 | ★★★★☆ | ★★★★★ | Trade finance, industry-specific needs |
| HSBC UAE | International | AED 3,000 | AED 350,000 | ★★★★☆ | ★★★★★ | Global banking, international expats |
| Standard Chartered | International | AED 3,000 | AED 300,000 | ★★★★☆ | ★★★★★ | Asia/Africa connections, emerging markets |
| Citibank UAE | International | AED 3,000 | AED 350,000 | ★★★★☆ | ★★★★★ | US connections, wealth management |
Advertisement
Ad Space - Google AdSense
Yes! Try:
Yes, but:
Yes 😬 – Watch out for:
HSBC, Emirates NBD, Standard Chartered, and FAB offer:
Great for expats, import/export businesses, and remote professionals