The Best Banks in Dubai & the UAE

Emirates National Bank of Dubai (ENDB) was formed in 2007 through the merger of Emirates Bank International (EBI) and National Bank of Dubai (NBD. This merger resulted in the formation of the largest banking group in the GCC region. ENDB operates in over ten countries on three continents and has the highest number of ATMs in the UAE.

Interesting products:

• Emirates NBD Credit Card - ENDB offers several types of credit cards for different types of individuals. Interest rates start at 1.49% and require a minimum salary of AED 5,000 per month.

• Emirates NBD Personal Loan - ENDB offers 6 personal loans, the most popular of which are personal loans for cash, personal loans for self-employed and personal loans for expatriates. Interest rates start at 2.38 %.

Interesting services:

• Factoring - Businesses can sell their accounts receivable to increase their cash flow by using this service.

• Wakala Deposits - You can invest in Sharia-compliant financial products through ENDB.

Actually a bank from the capital of the United Arab Emirates - Abu Dhabi - ADCB has an equally large presence in Dubai. It is known among foreigners for its smooth and fast banking operations. It was established in 1985 after a three-way merger and is currently the third largest bank in the UAE.

Interesting products:

• ADCB Business Loan - Businesses can apply for several loans from ADCB, such as instant loans, equipment financing loans, commercial property loans and more. ADCB approves loans within 7 days, charges a processing fee of 2% and an interest rate of 17%.

• ADCB Personal Loan - Individuals can get 10 types of personal loans, such as rental loans, smart financing and ex-pat loans. Interest rates start at 2.89 % and the minimum monthly salary required is AED 5,000.

Interesting services:

• Treasury Services - At ADCB, clients can participate in treasury trading.

• Offshore Accounts - Customers can open accounts with ADCB Offshore that are held outside the UAE and allow them to hold multiple currencies.

First Abu Dhabi Bank was only launched in 2016 through the merger of two major banks in the country, First Gulf Bank and the National Bank of Abu Dhabi (NBAD). FAB is considered the largest bank in terms of both assets and market capitalisation and has been rated the safest bank in the UAE by Global Finance. First Abu Dhabi Bank is an excellent choice for personal accounts in Dubai, and has very good credit card offers.

Interesting products:

• FAB Personal Loan - FAB offers several personal loans with interest rates starting from 1.62 %. Anyone with a minimum salary of AED 7,000 can apply for a personal loan with FAB, including people who are new to the UAE.

• FAB Credit Card - Individuals can apply for 19 different credit cards with interest rates starting at 3.25 %. A monthly salary of AED 5,000 is required to apply.

Interesting services:

• FAB at Work - FAB supports companies in their expansion by helping new employees with recruitment and opening bank accounts into which they can deposit their salaries.

• FAB Accelerator - If you transfer at least AED 15,000 per month, you can join the FAB Accelerator programme, which earns you reward points, Airmiles and cashback.

Established in 1967, Mashreq Bank is another popular choice for expatriates in Dubai. For more than 5 decades, this institution has been offering banking services for private and corporate customers to the residents of Dubai. Due to its strong online orientation, the number of Mashreq branches has noticeably reduced in recent years.

Interesting products:

• Mashreq Bank Personal Loan - Individuals can apply for multiple loans with interest rates starting at 5.99% if they have a monthly salary of at least AED 3,000.

• Mashreq Bank Credit Card - Customers who have a minimum monthly salary of AED 7,000 can apply for a Mashreq Bank Credit Card with an interest rate of 2.99 %.

Interesting services:

• Islamic Brokerage - Mashreq Bank offers Sharia-compliant brokerage services with its own trading platform.

• Mashreq Neo - The first all-digital bank in the UAE without branches, offering cashback offers, bonus points and other discounts.

Dubai Islamic Bank is the largest Islamic bank in Dubai and the third largest Islamic bank in the world. Founded in 1975, it serves up to 1.7 million customers and guarantees attractive returns based on faith-based investments.Through Dubai Islamic Bank, customers can invest in Shariah-compliant financial products.

Interesting products:

• DIB Credit Card - You can apply for various DIB credit cards with interest rates ranging from 0 to 3.25% if you earn a minimum monthly salary of AED 5,000.

• DIB Personal Loan - Consumers can apply for 9 different personal loans with interest rates starting from 6%. Applicants should earn a minimum salary of AED 3,000.

Interesting services:

• Islamic Sukuk Investments - You can trade in Sukuk and other Sharia-compliant financial products through Dubai Islamic Bank Treasury.

• Johara Savings Account - Special Sharia-compliant savings account in AED and USD offering salary advances and bill payments.