Managing money as a student can be really complicated, especially with expenses, tuition fees, and daily costs. A student bank account can help make this easier. In the UAE, many banks offer special accounts for students with benefits designed for young adults. This article will explain the key points about the best student bank account in UAE, including their benefits, who can open them, how to open an account, and tips for managing your money.
Benefits of Student Bank Account in UAE:
Student bank accounts have many advantages that make managing money easier. Here are some of the main benefits:
- No Maintenance Fees: Most student accounts don’t charge monthly fees.
- Debit Cards: Get international debit cards for easy spending.
- Online and Mobile Banking: Enjoy convenient online and mobile banking.
- Savings Accounts: Access to savings accounts with good interest rates.
- Financial Education: Learn to manage your money better with educational resources and tools.
Top Student Bank Accounts in the UAE
Here are the best student bank account in UAE:
1. Emirates Islamic Bank Student Bundle Package
Benefits:
- Free Savings Account with higher profit rates
- Free International Debit and Prepaid Cards
- Free Mobile and Online Banking
- Special Promotions and Offers
- Personal and Auto Finance for graduating students
Eligibility:
- Students enrolled in colleges/universities
Documents Required:
- Student ID
- Passport copy
- Emirates ID
- Visa copy (if applicable)
How To Apply?
- Visit the official website.
- Click “Apply Now”.
- Enter your first name, last name, mobile number, and email to register your interest.
- Select your emirates, and enter your company name and monthly income.
- Agree to the terms and conditions.
- Click “Submit”.
2. Emirates NBD Youth Package
Benefits:
- Fees Not Needed: No fees to open an account
- Free Chequebook: The first chequebook is free
- Saving with Go4it Debit Card: Save money with the Youth Go4it Debit Card
- Saving Plans: Customised savings plans for your needs
- Free Balance Transfers: Free local and international transfers via Mobile and Online Banking
- Free ATM Transactions: 8 free teller transactions each month
- Banking Benefits: Free banking services and benefits
Eligibility:
- Youth aged 18-25 years
- No minimum salary required
Required Documents:
- Passport copy
- Emirates ID
- Student ID (if applicable)
How To Apply?
- Visit the official website.
- Click “Apply Now”.
- Enter your first name, last name, mobile number, and email to register your interest.
- Select your emirates and click “Instant opening”.
3. ADIB Student Savings Account
Benefits:
- Free Account: No minimum balance, no fees
- Free ISIC Prepaid Card: Global recognition, discounts, and Apple Pay
- Unlimited Cash Withdrawals: Free teller services at ADIB branches
- Quarterly Profits: Calculated monthly, credited quarterly
- 24-hour assistance: Get 24/7 banking services, including telephone and SMS banking.
Eligibility:
- Students aged 13 and above
- UAE nationals and residents
Required Documents:
- A valid copy of the student’s passport (or the legal guardian’s passport for students under 18).
- A valid copy of the Emirates ID (or the legal guardian’s Emirates ID for students under 18).
- A valid school ID or any proof that the person is a student.
- One passport-sized photo.
How To Apply?
- To apply for this account, you can visit the nearest ADIB branch and contact the banking professional who will assist you through the entire process of opening an account with them.
4. Sharjah Islamic Bank Digital Account
Benefits:
- No fees or balance required: No minimum balance, fees, or charges.
- Free debit card: Get a free off-cost debit card.
- Free chequebook: Get your first chequebook free.
- Free money transfers: Free balance transfers to India and Pakistan.
Eligibility:
- Minimum age: 18 years
Required Documents:
- Original Emirates ID
How To Apply?
- Visit the official website.
- Download the SIB digital app for iOS and Android..
- Click on “Open SIB Digital Account”
- And similarlyfollow the on-screen instructions to apply for this account.
Student Bank Account UAE Requirements:
To open a student bank account in the UAE, you typically need the following documents:
- Valid Passport Copy: A copy of your passport.
- Valid Emirates ID Copy: A copy of your Emirates ID.
- Valid School ID or Proof of Enrollment: A school ID or any official document that shows you are a student.
- Passport Size Photo: One recent passport-sized photograph.
For students under 18 years old, additional documents might be required:
- Legal Guardian’s Passport Copy: A copy of the legal guardian’s passport.
- Legal Guardian’s Emirates ID Copy: A copy of the legal guardian’s Emirates ID.
Note: These are very basic documents that every bank asks for. The basic requirements may vary from bank to bank, so it’s best to check with the bank beforehand.
How to Open a Student Bank Account in UAE: Easy Steps
- Pick the Right Bank: Look at different student bank accounts and choose the best one for you.
- Get Your Documents Ready: Ensure you have all the necessary documents, such as your Emirates ID, passport, visa, and proof that you are a student.
- Visit the Bank or Apply Online: Depending on the bank, you might need to go to a branch, or you can apply online.
- Fill Out the Application Form: Complete the form with the correct details.
- Submit the Documents: Give the bank all the required documents.
- Activate Your Account: After your application is approved, activate your account and start using it.
Click “Apply Now” To The Best Student Bank Account in UAE:
To apply for the best student bank account in UAE, simply click “Apply Now”:
| Bank Account | Apply Here |
| Emirates Islamic Bank Student Bundle Package | Apply Now |
| Emirates NBD Youth Package | Apply Now |
| ADIB Student Savings Account | Apply Now |
| Sharjah Islamic Bank Digital Account | Apply Now |
Final Takeaway:
So that was all about the best student bank account in UAE. A student bank account can make managing money much easier for students in the UAE, providing benefits and tools designed for them. By picking the right bank and managing your account well, you can spend more time studying and less time worrying about money. Always compare different options and choose the account that suits your lifestyle and financial needs.
Frequently Asked Questions (FAQS):
Q. Can a 16-year-old have a bank account in the UAE?
Yes, you can open a Minor Account for children under 18 to help them manage their savings and spending.
Q. What are the disadvantages of a student bank account?
There are not many disadvantages to student bank accounts. However, misusing the interest-free overdraft can lead to extra debt and damage your credit rating. It’s important to use this feature responsibly to avoid future financial problems.
