Review of Best Banks in Dubai
Large portion of the Dubai economy belongs to local and international business activities. Therefore Dubai banks are operating in a way to assist this driving force of Dubai. This page will describe major banks in Dubai that you should be aware of.
Banks in Dubai can be divided in to two categories
Major Local Banks in Dubai
Dubai Islamic Bank – Banking practices have been defined as per Islam laws. No interest for deposits and very low interest for loans.
Emirates Banking Group
National Bank of Dubai
International Banks in Dubai
Standard Charted Bank - Standard Charted has the largest branch network in Dubai in the international category.
HSBC – Very popular for car loans and credit cards. Also one of the best banks in Dubai for customer service.
Lloyds TSB Bank (Lloyds Bank PLC)
Habib Bank AG Zurich
Major banking services in Dubai
Vehicle loans – Bank owns the car until the loan is fully paid. Therefore vehicle loans are relatively easier than all other types of loans.
Credit cards – You need to hand over an open cheque for the maximum credit limit.
Housing/property investment loans
Most of the banks have online banking facilities.
How to open a bank account in Dubai?
You must hold residence visa to open a bank account. Most of the companies have their preferred banks for employees. Opening an account with your employer’s preferred bank is much easier. You need following items to open a bank account in Dubai.
- Your passport (with residence visa).
- Salary letter from your employer.