Banks in the UAE provide many financial services to clients worldwide. Among the services, loaning is one central service banks offer.
If you live in the UAE, there are high chances you will use a UAE bank to save money or get a loan. Whichever bank you decide to open a savings account with or borrow a loan from, you must research and ensure it offers the best service afterward.
Some banks are known to have poor customer support. Besides, some of the banks in the UAE do not have an online presence to date. But this is not a qualification criteria for the best banks for expats in Dubai.
This article will give you an overview of the top ten best banks in the UAE for expatriates.
1. Emirates NBD
The Emirates NBD bank is one of the best banks in the UAE, with many awards won, including the Best Bank for retail banking in the UAE by ASEAN. It has many branches, some in African countries like Egypt and others spread across Europe.
Emirates NBD provides loaning services to expats. In addition, it offers insurance services to the financial services run by expats in UAE to help them avoid losses while keeping an excellent economic environment.
The bank also offers other services to the expats, i.e., saving accounts, plastic cards, insurance programs, etc. it is, therefore, a hub of financial activity and one of the best banks providing economic necessities to expats in UAE.
2. First Gulf Bank
Established in 1979, First Gulf Bank enjoyed the highest shareholding value of AED 31.2 billion in the UAE with many achievements and awards, such as the Best Bank in the UAE by Banker Middle East Financial Sector in 2013.
It ranked among the six strongest banks in UAE by Forbes magazine. Therefore, it is undoubtedly one of the best banks expats look up to.
3. Dubai Islamic Bank (DIB)
This bank offers the best Islamic banking services worldwide and is also one of the fastest-growing financial institutions globally. It has over 400 institutions with over US $ 1,000 billion in assets worldwide.
Established in 1975, DIB still stands out for expat-oriented financial services in UAE and across the world. It won the Best Islamic Card and Best House of Sukuk awards.
4. Mashreq
Being one of the oldest banks in UAE, Mashreq bank offers financial services to nationals and expats. 
The privately-owned bank has over twelve offices across Africa, Europe, North America, and Asia.
Its upper advantage is that it provides loans even with a zero account balance as long as one has a fixed salary exceeding AED 15,000. In addition, the bank offers expats a full range of monetary assistance provided by its experts.
5. Standard Chartered Bank
It is an international Bank that has remained in UAE since 1958. Its branches are well spread across the United Arab Emirates.
It is very reliable in providing financial services to expatriates and offers both personal and home loans.
Finally, it is also essential to state that Standard Chartered banks process loans faster than other banks. Hence, one of the best choices you should go for if you need an urgent personal expat loan.
6. Commercial Bank of Dubai (CBD)
The Commercial Bank of Dubai has been in UAE for a long time and is considered one of the most aged banks there.
Other than offering loans and financial services to expatriates, the bank provides insurance services to expatriates of their loans and provides credit cards to them too. It is, therefore, one of the ideal banks for expatriates in the UAE.
7. National Bank of Fujairah (NBF)
The National Bank of Fujairah is very reliable regarding financial services and loans. It also favors new residents, and expatriates find it very easy to open an account there.
In addition, the bank offers financing services for national and investment projects and purchases and sells peace in markets and financial derivatives. NBF was established in 1982, and you should trust it if you need a bank with a long-standing history.
8. Dubai Islamic Bank (DIB)
The DIB is one of the ancient banks of the UAE. It offers financial services to both expatriates and UAE nationals.
For an expatriate to open an account, they must have a minimum of AED 3000 salary. In addition, the bank gives credit cards to expatriates.
9. RAKBANK
The National Bank of Ras Al-Khaimah, a public joint-stock company, is headquartered in Ras Al Khaimah and offers the best financial and loan services to expatriates and UAE nationals.
With over 30 branches in UAE, expatriates can easily access it. In addition, it offers credit cards for businesses.
10. Abu Dhabi Commercial Bank
The bank is the second-largest commercial bank in the UAE, offering top-rated financial services to the citizens and expatriates in the UAE. It gives credit cards to expatriates without much prequalification.
Established in 1985 after integrating a group of banks, the government of Abu Dhabi owns 65% of the shares. The bank has won many awards, including the Best Commercial Bank Award, and was ranked 7th by Global Finance among the safest banks in the Middle East.
How To Open A Bank Account For Expatriates In UAE
Every bank in the UAE has different requirements for expatriates to open an account with them. Although the various banks require many documents, the qualification criteria and documentation are unique to specific banks offering financial services to expatriates in the UAE.
To open an account, you will need;
1. Passport With Two Copies
An expatriate must provide a passport to the bank for identification. In addition, the copies keep the applicant’s data intact and are the surety of continued service.
2. Residency visa
Some banks will only accept your application if you live in the UAE. An expatriate is expected to provide a residency visa if they stay in UAE. The visa is proof of residency and can also be used to extend other services to the applicant, including bank loans.
3. Evidence of Employment
Proof of employment is required to give the bank an insight that the expatriate has a genuine source of income. Also, if you may need a loan in the future, banks can use it to qualify your loan application and prove that you can repay the loan through the job.
4. An address
Banks will ask for your address to keep a good record of your location if they need to contact you in the future.
Conclusion
If you are an oversea worker in the UAE, many top banks are at your disposal. If you need to open a bank account or get a loan, visit your bank or one of the banks on our list above and be sure to get the best banking services to fulfill your needs.
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