Choosing the best bank account in UAE is a tough decision. After all, so many banks in the UAE offer several types of accounts.
Several bank accounts are available in the UAE, each with its advantages and disadvantages. So, the best banking account in UAE for some may not be the best for others.
For individuals and families looking to grow their savings, a savings account is the best bank account to open in UAE. Special saving accounts offer higher interests than regular ones and need a lower minimum balance.
The best bank account in the UAE is a corporate account for businesses. It offers lower transaction fees but may require a higher minimum balance.
Choosing the best bank account in the UAE depends on your circumstances and needs. However, by considering all of your options, you should be able to find an account that best suits your requirements.
In this Dbd guide, we will list the best bank accounts in the UAE. You can easily choose the one that best suits your needs.
List of the best bank account in UAE
We have gone through a wide range of current, fixed, business, and savings accounts in UAE and listed 12 of the best. Many of these accept money in AED and USD and offer a free cheque book as well.
We have listed some banks with attractive interest rates and without any minimum average balance. If you open an account in any of these banks, you will surely get a wide range of benefits.
Here are some of the best bank account for expats, current accounts, best savings account in UAE, and more.
1. CBI Saver Account
| Minimum balance: | AED 3,000 |
| Interest rate: | 0.55% to 2.1% |
| Annual fee: | 0 |
CBI Saver is one of the best savings accounts in the UAE. You require a minimum balance of AED 3,000 in order to open this savings account in the CBI bank. [1]CBI UAE, “CBI Saver https://www.cbiuae.com/en/personal/products-and-services/savings/saver-account”
This is a savings account with interest rates of 0.55% to 2.1% being paid out. These high-profit rates help you make more profit while you save.
There is no account opening fee, and customers receive a free checkbook with 25 pages. Holders also get a free international debit card. [2]CBI UAE, “Schedule of Charges, https://www.cbiuae.com/media/11829/0025-cbi-tariff-80x100cm-cs3-jan-2019_print.pdf”
The accounts are available to children and joint applicants as well. Furthermore, the account has no limit on how many withdrawals may be made.
These features certainly can be considered the best savings account in UAE.
What do we like about the CBI saver account?
CBI saver account is one of the highest interest-yielding accounts in the UAE. You will gain a 1.1% interest for savings of 299,999 AED or below. As you save more, the rate increases up to 2.1%.
2. FAB iSave Account
| Minimum balance: | 0 |
| Interest rate: | 3.5% |
| Annual fee: | 0 |
First Abu Dhabi Bank‘s FAB iSave is another best savings account in UAE. It offers a high-interest rate with no minimum balance and no annual fee.
You can instantly open a savings account through the FAB Mobile app. Moreover, you will also get FAB rewards that can be used to pay your bills.
There are no restrictions on the number of withdrawals. However, you can only perform transactions with the local currency. [3]First Abu Dhabi Bank, “FAB iSave Account, https://www.bankfab.com/en-ae/personal/save/isave-account”
What do we like about FAB iSave Account?
If you want to save your money but don’t know if you can maintain a minimum balance, this is for you. You can just open a savings account in the bank for free and never worry about the minimum balance.
3. Emirates NBD Standard Savings Account
| Minimum balance: | AED 3,000 |
| Interest rate: | 3.5% |
| Annual fee: | 0 |
The Emirates NBD Standard Savings Account is a reliable savings account in the UAE. The account offers a competitive interest rate of up to 3.5%, no account opening fees, and a free debit card.
Additionally, the account comes with free local and international remittance. This is the best option for those who regularly send money abroad.
The account has higher tiers, which come with a higher minimum balance but more benefits. The standard savings account provides a great value for money, making it an ideal option for those looking for a reliable banking solution in the UAE. [4]Emirates NBD, “Savings Account, … Continue reading
What do we like about Emirates NBD Standard Savings Account?
The highest tier of standard savings accounts offers free skywards miles for discounted air tickets. If you travel frequently, you can take advantage of the 40,000 skywards miles.
4. ADCB Active Saver Account
| Minimum balance: | AED 5,000 |
| Interest rate: | 1% |
| Account opening fee: | 0 |
Abu Dhabi Commercial Bank‘s ADCB Active Saver Account is a great way to save money. You can open an account from ADCB Personal Internet Banking instantly.
The account is available in AED, USD, and GBP. With this account, you can obtain TouchPoints and redeem them for cash back or gifts. It is also very easy to transfer money into the Active saver account from your existing account. [5]ADCB, “ADCB Active Saver Account,, https://www.adcb.com/en/personal/accounts/current-savings-account/active-saver-account.aspx”
What do we like about ADCB Active Saver Account?
No ATM card or cheque books are provided to you. While this seems like a disadvantage, ADCB does it to discourage withdrawals so that you save more.
Related info: Want to open zero balance account in UAE? Check out this Dbd guide on – best zero balance account in UAE, which covers everything from the best banks to the requirements.
5. ADCB Current Account
| Minimum salary: | 5,000 AED |
| Account opening fee: | 0 |
UAE residents can now benefit from the ADCB Current Account, which is available in AED and other major currencies. This account allows you to transfer your salary, move money, and make payments easily.
You also get free e-statements to check your financial details and free cheques for AED accounts. To get started, simply visit any ADCB branch or apply online.
Once your account opens, you’ll access ADCB Personal Internet Banking and Mobile Banking. With these convenient tools, you’ll be able to manage your finances on the go. [6]Abu Dhabi Commercial Bank, “ADCB Current Account, https://www.adcb.com/en/personal/accounts/current-savings-account/adcb-current-accounts”
What do we like about ADCB Active Saver Account?
Whether you’re paying bills, transferring money, or checking your account balance, ADCB Current Account is perfect. It doesn’t take long to open, and mobile banking is very efficient.
6. CBD Unit Time Deposit Account
| Minimum deposit: | AED 100,000 |
| Interest rate: | Up to 0.55% |
| Tenures | 6 months to one year |
CBD Unit Time Deposit account is a great way to earn interest on your money while still having access to it if you need it. With this account, you can deposit a minimum of AED 100,000 and earn an interest rate of up to 0.55%.
The 6-month to one-year tenures are fixed, but you are able to withdraw at any time. But you must withdraw at least AED 10,000 or multiples of 10,000 at a time.
This is a better option than a normal fixed account, where you cannot access your money until the end of the term. This is the best banking account in UAE for fixed deposits if you want to grow your savings without losing access to it. [7]Commercial Bank of Dubai, “Unit Time Deposit, https://www.cbd.ae/personal/bank/accounts/unit-time-deposit”
What do we like about CBD Unit Time Deposit Account?
The ability to be able to withdraw money at any time is very handy. After you withdraw a certain amount, the remaining money will bear interest normally, so it doesn’t harm your earnings.
7. Emirates Islamic Bank Current Account
| Minimum balance: | AED 3,000 |
| Minimum salary: | AED 5,000 |
| Account opening fees: | 0 |
Managing your finances can be challenging, especially if you have accounts in multiple currencies. But with Emirates Islamic Bank’s Current Account, you can easily access your money no matter what currency it is.
An internationally recognized debit card is provided as well as a free cheque book. This lets you make purchases and cash withdrawals without worrying about currency conversion fees.
Plus, online banking allows you to manage your account and transactions from anywhere easily. Best of all, there is no minimum balance required if you transfer your salary on time. So whether you’re a resident, the Emirates Islamic Bank Current Account is a great option. [8]Emirates Islamic Bank, “Current Account, https://www.emiratesislamic.ae/eng/personal-banking/accounts/current-account/”
What do we like about Emirates Islamic Bank Current Account?
You can save foreign currencies in your account as well.USD, Canadian Dollar, Euro, GBP, Yen, Saudi Riyal, Kuwaiti Dinar, Bahraini Dinar, and Omani Riyal are accepted.
8. Standard Chartered XtraSaver Account
| Minimum initial deposit: | AED 3,000 |
| Interest rate: | Up to 0.6% |
| Account opening fees: | 0 |
The Standard Chartered XtraSaver Account is great savings account for residents and non-residents alike. The account offers a high-interest rate of 0.60% p.a., making it an excellent option for those looking to earn a competitive return on their deposits.
Moreover, there is no minimum balance requirement or penalty fees. The account also lets you make local bill payments, get e-statements, and receive alerts for credited or debited amounts from your bank account.
As such, it is an ideal high-yield savings account with no strings attached. [9]Standard Chartered Bank, “Zero balance account in UAE, https://www.sc.com/ae/deposits/xtra-saver-account/”
What do we like about Standard Chartered XtraSaver Account?
It is available for both residents and non-residents. So, you can use it if you are there on a business visit for a month as well.
See also: Check out this Dbd guide on – best bank in UAE, which covers everything from the best banks for ex-pats to the best Islamic banks in UAE.
9. NBF Max Saver Account
| Interest rate: | Up to 1.75% |
| Account opening fees: | 0 |
| Accounts per person: | 2 |
National Bank of Fujairah’s Max Saver account is another great way to earn high-interest rates on deposits. You can store both AED and USD currencies in the account.
The interest is calculated on your daily balance and paid monthly. You’re also allowed one withdrawal per month without affecting the interest rate.
Moreover, you can open two NBF Max Saver accounts if you need to. That way, you can maximize your savings to the fullest.
The interest rates of up to 1.75% on AED or 1.25% on USD currencies are available. This means you will be earning more than you would in a regular savings account. [10]National Bank of Fujairah, “Max Saver Account, https://nbf.ae/en/personal/account-services/savings-accounts/max-saver”
What do we like about NBF Max Saver Account?
You can open multiple accounts easily, and there are no charges for doing so. So if you want one account for your local currency and another for USD, you don’t need to look for two banks.
10. ADIB Business One Account
| Minimum balance: | AED 5,000 |
| Account opening fees: | none |
| Monthly free teller transactions: | 5 |
The ADIB Business One Account is a great option for businesses that want to save on transaction fees. With up to five free monthly teller transactions, the account can help businesses keep their costs down.
Additionally, you will get a free business classic debit card and cheque book, making it easy to manage finances.
This account also supports multiple currencies for businesses that deal in international currencies. And for added convenience, ADIB offers an online platform for account management.
Best of all, free monthly e-statements are available to help businesses stay on top of their finances. The ADIB Business One Account is a great option for businesses that want to reduce their monthly banking fees. [11]Abu Dhabi Islamic Bank, “ADIB Business One Account, https://www.adib.ae/en/business/business-accounts/business-one”
What do we like about ADIB Business One Account?
We like the ADIB Business One Account because you don’t need to have a lot of money saved up to open it. With just AED 5,000, you can start operating your business with this account.
11. FAB Salary Transfer Account with cashback offer
| Minimum salary: | AED 5,000 |
| Cashback rate: | Up to 10%, maximum of AED 5,000 |
| Account opening fee: | none |
FAB offers a convenient and rewarding way to manage your finances. FAB also provides FAB rewards, with which you can pay your bills from home online.
You can also manage your FAB account and credit cards instantly online with FAB mobile apps. You can get it on Google Play or Apple Store..
The mobile apps allow you to check your balance, view transactions, and transfer funds anytime, anywhere. With the Salary Transfer Account, you can get up to AED 5,000 cash back when you transfer your salary to a FAB account.
The salary must have been transferred at least 2 times before you qualify. This offer is available for both residents and expats where they can get up to AED 2,500 cash back. [12]First Abu Dhabi Bank, “FAB Salary Transfer Cashback Offer, https://www.bankfab.com/en-ae/campaigns/salary-transfer-cashback-offer”
What do we like about FAB Salary Transfer Account?
This cashback offer isn’t always available. But even if it isn’t active, you can still get free 1,000 miles on Etihad airlines on your first salary transfer. [13]First Abu Dhabi Bank, “FAB Salary Transfer Cashback Offer, … Continue reading
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12. ADIB – Banoon Children’s Savings Account
| Minimum deposit: | AED 0 |
| Profit rate: | Up to 0.41% |
| Account opening fee: | none |
As a parent, it is important to consider your child’s future and how you can help them prepare for it. One way to do this is by opening a Banoon Children’s Savings Account at ADIB.
This account is completely free and has no minimum balance, making it easy to start saving. It can teach your children how to manage their allowances and develop good financial habits.
With the free prepaid card, they can make purchases and withdrawals without having to worry about running out of money. And if you ever need access to more cash, you can use one of the many ATMs to do so.
Plus, you will receive free SMS updates whenever there is activity on the account. Banoon Children’s Savings Account is the best bank account to open in UAE for children. So open one today and help your child secure a bright future. [14]Abu Dhabi Islamic Bank, “Banoon Children’s Savings Account, https://www.adib.ae/banoon-children’ s-savings-account”
What do we like about ADIB’s Banoon Children’s Savings Account?
Banoon Children’s Savings Account helps parents teach their children the importance of saving. The free and easy account management system will help boost that even more.
Related info: If you don’t know how to open an account, check our Dbd guide on – How to open bank account in UAE.
FAQs on best banks account in UAE
Which bank is best for savings account in UAE?
CBI Saver Account and FAB iSave Account can both be considered the best savings account in UAE. It is up to your preference and their requirements, such as minimum monthly balance and interest rates for profit on saved money.
Which bank is best for business account in UAE?
Either ADIB Business One Account or ADCB Current Account is the best bank account to open in UAE for businesses. Take a look at both accounts’ features and decide which is the best for you.
Which bank is best for salary account in UAE?
FAB Salary Transfer Account offers cashback which is quite attractive. But the Emirates Islamic Bank Current Account can be able to help you with a number of services too. Check them out and choose whichever you like.
Which is the best bank account for small business in UAE?
ADIB Business One Account and ADCB Current Account are both great banks for small businesses. Each of them is considered the best banking account in UAE for small businesses, so check them out and see for yourself.
Which bank account is free in UAE?
FAB iSave Account and Banoon Children’s Savings Account are completely free and need zero balance to operate. But there are plenty more that take no annual charges and offer online and mobile banking for free too.
Final thoughts
There are plenty of bank accounts in UAE to choose from. But your best bank account in UAE will depend on your needs and requirements.
Do you want the best savings account in UAE with no minimum balance? Or are you looking for the best bank account to open in UAE for salary transfers?
Whatever it is that you need, we’re sure you will find the best bank account in UAE for you from our list.
Both UAE residents and non-residents can access some of these accounts for cash withdrawal, saving, online banking services, etc. We hope you have found the best bank account in UAE that works perfectly for you.
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About the author
Mohamed Yousuf
Mohamed Yousuf is a personal financial advisor based in the UAE. He helps people save money, shop smarter, and manage their finances. He has over a decade of experience as a financial adviser and is committed to helping his clients reach their financial goals. He is also actively involved in the community, volunteering his time to help those in need.
