Detailed guide to banking options for students and youth in UAE

Navigating through the fast-paced world of student life and early adulthood in the UAE requires smart financial management.

To make this process easier, many banks in the UAE provide special bank accounts designed specifically for students and young adults.

This guide breaks down the features and step-by-step process of opening these accounts, ensuring a smooth and hassle-free banking experience.

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   ADIB Student Savings Account:

Features:

No minimum balance requirement.

Tailored for students aged 13 and above.

Documents required:

Passport-sized photograph.

Copy of a valid passport (including legal guardian’s if under 18).

Copy of a valid Emirates ID (and legal guardian’s if under 18).

Copy of a valid School ID or proof of student status.

Application Process:

Visit an ADIB branch with the necessary documents for a hassle-free account opening.

2. Emirates NBD Youth Package:

Features:

No minimum balance requirement for applicants over 18.

Employment required with a minimum salary of Dh5,000.

Documents required:

Active UAE mobile number.

Emirates ID.

Passport.

Proof of income with a minimum salary of Dh5,000.

Application Process:

Apply online through the Emirates NBD website or the ‘Emirates NBD Mobile’ app for a convenient and swift experience.

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3. Emirates Islamic Student Bundle Package:

Features:

No minimum balance requirement.

Eligible for applicants aged 18 to 21.

Documents required:

Passport copy with residence visa.

Emirates ID copy.

Student ID copy.

Original documents may be required for verification.

Application Process:

Head to an Emirates Islamic branch with the required documents to begin your financial journey.

4. ADCB University Student Account:

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Features:

No minimum balance required, but an initial deposit of Dh1,500 is necessary.

Eligible for students aged 18 and above.

Eligibility and Documents:

Enrolled in a full-time or part-time higher education institution.

GCC and UAE Nationals need evidence of enrollment.

Expatriate students require a University ID and residence visa.

Application Process:

Start the process of opening your account by going to an ADCB branch and bringing along the necessary documents.

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   CBD Digi Account:

Features:

No minimum balance requirement for new customers aged 18 and above.

To receive a cheque book, applicants must be 21 and above.

Eligibility and Documents:

Valid Emirates ID.

Activation

Your account gets activated instantly when you provide your details, but there are some transaction limitations until the final approval and delivery of your debit card.

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   NBF Ajyal:

Features:

Digital account with no minimum balance for UAE nationals aged 18 to 25.

Eligibility and Documents:

Emirates ID.

Activation:

Download the ‘NBF Instant’ app, scan Emirates ID, and take a selfie. Receive a welcome pack, including the NBF Debit Card, after completion.

7. SIB Student Savings Account:

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Features:

Minimum balance requirement of Dh500.

Eligible for students aged 18 and older.

Required documents:

Valid Emirates ID.

Valid Passport with Visa.

Valid Student ID.

Application Process:

Visit an SIB branch with the specified documents to initiate the account opening process.

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8. SIB Digital Account:

Features:

Digital account with no minimum balance for individuals aged 18 and above.

Required documents:

Emirates ID.

Proof of income.

Activation:

Get the ‘SIB Digital’ app, sign up with your Emirates ID, and snap a selfie. Your card will be sent to you by courier, who will also collect the required documents for verification.

Exploring student and youth banking in the UAE is now super easy. With the right details, setting up a specialized account is a breeze.