While the UAE did not have its own currency until roughly four decades ago, it has since grown to become a global economic hub. In terms of total assets, the UAE’s banking sector is one of the wealthiest in the GCC. It handles assets of over US$700 billion and deposits worth about US$450 billion.

As a result, the UAE has a fantastic banking system that is renowned for its excellent customer service and global economic stability. Many great businessmen and overseas investors want to create a bank account in the United Arab Emirates.

So, today we are going to look at the bank accounts that you need to know about in order to make your life better. 

Want to jump straight to the answer?

  • The best Saving account in the UAE is Emirates NBD Standard Savings Account.
  • The best Current account in the UAE is ADCB Current Account
  • The best Salary account in the UAE is Mashreq Happiness Account 
  • The best Business account in the UAE is Emirates NBD Business Banking
  • The best Offshore account in the UAE is Emirates Islamic Bank

List Of Best Bank Accounts In The UAE

Here is our list of the best bank accounts in the UAE.

Emirates NBD Standard Savings Account

The Emirates NBD Standard Savings account appears to have a relatively high-interest rate. It’s only available in UAE dirhams, and it comes with a bevy of account benefits. One of the greatest savings accounts in the UAE is the Emirates NBD savings account.


  • You have the option of using the online banking service.
  • There is also a phone banking option.
  • A free international debit card is available.
  • Paying bills is an easy process.
  • Interest rate: 0.20 percent per year
  • Both domestic and international remittances are free.
  • The minimum balance to hold is AED 3000.
  • 0 AED (no annual charge)

ADCB Current Account

The ADCB current account is quite popular in Dubai. It has a vast choice of currencies which plays a vital role in its popularity in the country-AED and all the major currencies.


  • AED 5,000/USD 1,500 as an initial deposit
  • E-statements are available for free.
  • ADCB Personal Mobile Banking & Internet Banking offer free cheque book access.
  • Popular and good customer service

Mashreq Happiness Account (Salary Account)

Nothing can match the happiness that comes from the credited message of our salaries or payments from the clients and that’s why this salary account is named after your first emerged emotion of credit- the happiness account.


  • Salam points can be earned for free.
  • You can get a welcome bonus if you sign up.
  • To receive benefits, you must transfer your salary.
  • Expats and UAE nationals are both eligible.
  • AED 10,000 is the minimum salary requirement.
  • Can get a joining bonus of up to AED 2000 
  • There are no monthly costs.
  • Monthly international remittances are free and unlimited.
  • If more than 5 utility bills (or minimum 3 utility bills + 2 overseas remittances) are paid through Mashreq online or Snapp, you can receive AED 25 worth of Salaam points.
  • It’s a zero balance account

Emirates NBD Business Banking

The Emirates NBD offers a variety of tailored banking services, including a Business banking account. It takes care of all of your fundamental banking needs.


  • You can make use of exclusive business banking services.
  • Branches, ATMs, and cash deposit machines can be found all around the UAE.
  • There are business-related online banking services available.
  • The account is available in a variety of currencies, including USD, AED, JPY, and Euro.

And, here are the charges of Emirates NBD Business Banking.

  • The Interest Rate is 0%
  • Maintaining a minimum balance of AED50K
  • Bank charges AED250 if one fails to sustain minimum balance
  • Has an option of the wide range of currencies that comes with its charges
  • 3 days for approval
  • AED 45 for a domestic transfer and AED 85 for an international transfer

Emirates Islamic Bank (Offshore Account)

Emirates Islamic bank is one of the best banks that offer the top-notch services needed for a great offshore account.


  • Description of the bank: A well-known Sharia bank in Dubai that handles international payments.
  • Account type: Business account with internet banking
  • Regular trading, acquisition, asset ownership, and investing are examples of common uses.
  • An average balance of USD 200,000 or equivalent is required.
  • Procedure for opening: Physical presence in the UAE is required.
  • Due diligence entails: All principals and signatories were subjected to extensive due diligence.
  • AED, USD, and EUR are the available currencies (multi-currency account allowed)

What Is The Need For An Bank Account In the UAE?

Well, not having a bank accounting is not against the law; having a bank account helps in local transactions and avoidance of the hectic currency conversion the outsider has to go through. 

Your saving habits, spending habits, and your investment habits will surely get the benefit of having a bank account in the UAE.

Regularly received bank statements show where and when the amounts were spent. This can assist people with budgeting and long-term planning. People can achieve their financial targets through careful spending and saving management.

More Manageable Time

There must be individuals who have attempted to pay their large bills with cash rather than using the services provided by a bank account. Making payments in this manner can be difficult at times. The ability to just write a check might be a tremendous comfort for people who previously had to rely on money orders or wire transfers.

The ability to open a bank account online has grown increasingly handy in recent years. Other services provided by banks include person-to-person payments, online direct transfers between accounts, and 24-hour account access, all of which have aided in making users’ life easier.

Reliable Safety For Your Money

People used to hide their money under their beds in the past. Gone are the days when a mattress could keep your money safe. This personal fortune can be taken away in an instant by a burglary or a house fire.

There is, however, a safer route. People can transfer their funds safely with the bank by opening a bank account in UAE. Banks have procedures in place to protect deposits, ensuring that if something were to happen to the bank, the deposited funds would not be lost.

Opening a Bank Account is a Matter Of Interest

People get a fixed amount of interest on their deposits when they put their cash in a bank account. The account holder can regard the interest received on the funds as a source of income. It motivates them to save on a daily basis, which is unquestionably a healthy habit to start at a young age.

Types Of Bank Accounts In UAE

There are several types of bank accounts and you have to pick the one that suits your lifestyle.

Savings Account

Savings accounts are investment accounts with a banking institution that pays a low rate of interest to the account owner (profit rates in the case of Islamic Banks).

The number of withdrawals from a saving account each month may be regulated at the authority of the bank or financial institution.

In the context of a savings account, the account owner is needed to maintain a monthly average bank balance. If the account is a zero balance account in the UAE, however, this is not needed. If they do not sustain this minimum balance, they will be fined a penalty.

Current Account

Firms, businesses, businessmen, and public enterprises that have a high volume of everyday transactions with financial institutions or banks prefer to open a current bank account in the UAE.

Withdrawals, deposits, and contra payments are all part of the current account. The amount of transactions that can be conducted in a month is normally unlimited with these accounts.

Salary Account

A salary account is a bank account into which your pay is deposited. Banks in the UAE typically open such accounts at the demand of large enterprises or multinational corporations. Employees of the companies are given their own salary account, which they can manage on their own.

Business Account

Every firm must have a system in place to manage its finances. In the UAE, business accounts are used to track money due to businesses and creditors, cash balances, and employee salaries, among other things.

Offshore Bank Account

Anyone with a valid residency visa in the UAE can open an offshore bank account to import and export funds. Offshore banking is generally thought to be strong, safe, and reliable, and many offshore accounts come with particular legal and financial advantages, such as tax reductions.

Offshore banking in the UAE includes asset protection, private bank accounts, financial advising, portfolio management, tax consultation, legacy planning, and company formation.


Here are some frequently asked questions about the best bank accounts in the UAE.

How A Saving Account Functions?

Savings accounts are typically used to save monies that are not meant for regular or everyday expenditures. The volume of transactions and withdrawals an account owner can make in a month may be restricted. On this investment, accountholders earn a significant amount of interest (profit rate).

How Does A Current Bank Account Function?

People in the United Arab Emirates can open a current account with a variety of commercial banks. It’s frequently connected with large-scale transactions that take place on a daily basis.

The account owner does not usually earn a greater interest rate on this Dubai bank account because of the flexibility it provides. It may, however, differ from one bank to the next.

How Does A Salary Account Functions?

When a firm needs to pay its employees, the responsible bank withdraws monies from the company’s accounts and distributes them to the employees as needed. Normally, there is no requirement to maintain a minimum balance on this account; however, at the discretion of the individual bank, an exemption may be made.

How Does A Business Account Functions?

This sort of bank account in the UAE aids business owners in tracking spending, managing funds, and calculating tax responsibilities. This account is distinct from personal bank accounts in that it is designed particularly for businesses in the United Arab Emirates.

Can You Maintain A Bank Account In UAE Without Resident Visa?

Expats without residency visas are only allowed to create a savings account in the UAE. This account does not usually come with a chequebook. Instead, most banks will offer an ATM card, allowing customers to withdraw funds while they wait for their resident visa.

Can I Have More Than One Bank Account In The UAE?

Having multiple personal or corporate bank accounts is not a problem. To avoid incurring additional service charges, you must keep the minimum monthly average balances in each account properly.

What Are The Requirements For A Non-resident To Open A Bank Account In The UAE?

The following documents are required to create a personal bank account in the UAE as a non-resident: a photocopy of your passport that includes the UAE entry page An authentic copy of a recommendation letter from your bank in your nation of birth or any other nation where you have a personal or corporate account.

In a Matter Of Inconvenience, Am I Allowed To Close My Bank Account Online?

It is not feasible to close your account online; you must do so in person. It is better to go early in the morning because most banks in Dubai close in the afternoon. You’ll need to ask your bank teller for an account termination form once you’ve drained your account.

Where Can I Open A Bank Account In UAE With No Money?

Here are some elite banks that will help you start with no money.

  • ADIB Smart Banking Account.
  • Commercial bank of Dubai(CBD) ESaver Account.
  • Mashreq Happiness Account.
  • ADCB Active Saver Account.
  • FAB iSave Account.
  • RAK Bank Fast Saver Online Account.
  • Emirates NBD Liv. Account.


Having a bank account in Dubai has numerous advantages for both the corporate and individual/private sectors. Setting up a company in the UAE is one of the most important requirements for acquiring a corporate bank account. Having a bank account in Dubai brings you a world of possibilities and offers, easing your international and local commerce and service demands.