Best Bank In United Arab Emirates for International Students In 2022

Filed in Article, Education by on April 28, 2022 0 Comments

Sometimes I wonder how a country in Western Asia does it so well, having Dubai as its international hub (the envy of other countries), attractive landmarks, state-of-the-art infrastructures, and a high standard of living.

The United Arab Emirates is one country people love to study in, with receptive citizens and quality education, what more is there to need? International students studying in the UAE for not need to worry about how to save up the income they receive from home or the tips they receive if they’re working while in school because of the availability of banks to solve those problems as they could easily open a student account.

What Is A Student Account?

A student account is a type of bank account designed specifically for students with different features, terms, and requirements distinguishing it from other account types.

In UAE, a student’s account had a multifunctional financial tool that gives students different privileges in the country and outside the country by simply being a customer depending also on the bank choice.

Requirements

The set of documents that needs to be submitted to the banking institution usually includes but note that this could differ according to banks.

  • Copy of a passport;
  • Copy of a visa;
  • Copy of the Emirates ID card;
  • Copy of the University student ID card (or a letter of enrolment from a university).

Best Banks In UAE For International Students

1. The Emirates NBD

The Emirates NBD was the first bank in UAE to launch student bank accounts. The Emirates NBD student account does not require a minimum monthly balance. However, to open this account, the student has to provide a valid UAE visa, their Emirates ID card, and a no-objection letter from their university or college.

2. The National Bank of Abu Dhabi

The National Bank of Abu Dhabi student savings account is available for students between the ages of 18 and 24 and a personal student current account for students between ages 21 and 24 respectively but note that to activate the account, you’ll need to make a deposit of AED250.

Notwithstanding, there are amazing benefits to enjoy like;

  • Zero minimum balance is required, thus no minimum balance charges.
  • A free MasterCard debit card.
  • A free checkbook with account opening.
  • Free online banking.

Plus the opportunity to enjoy various dining offers in the UAE as holders of the National Bank of Abu Dhabi’s Student Savings Account and complimentary lounge access in all the Middle Eastern countries.

3. Mashreq Bank

With a strongly built education loan program and a less rigid refundment system, Mashreq bank offers so many privileges you may not find at other banks. Applicants who apply for a loan amount that exceeds AED 25,000 are automatically given a zero balance current account with Mashreq in addition to a free checkbook and debit card. However, the downside is that the minimum monthly income should not be less than AED 7000.

4. Abu Dhabi Commercial Bank (ADCB).

Abu Dhabi Commercial Bank (ADCB) provides the possibility of opening student bank accounts for both the UAE students and students from the numerous other universities in the world plus the offer of student loans to a wide range of universities not only in the UAE but also across the globe.

We hope more banks resurface to help the teeming number of students find the constraints they need in UAE.

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