Dubai has a world-class financial sector with strong local institutions and global banks to serve locals, expats, and people from other countries who want to buy property in Dubai. Picking the right bank is important whether you’re starting your first account, getting a loan for a house, or managing your money abroad. In this in-depth blog, we’ll look at the top 10 banks in Dubai for international buyers, including how they rank and the most important terms and conditions for foreign investors and people.
Top 10 Banks in Dubai for International Buyers
1. Emirates NBD
Many people in Dubai think that Emirates NBD is the best bank there is. It regularly ranks at the top thanks to its large service network, strong digital banking platform, and full range of mortgage options.
Conditions for International Buyers:
Through expatriate mortgage programs, foreign investors can get home loans. For qualifying residents, these programs can often finance up to 80% of the property’s value; terms for non-residents may be different. To open an account, you need to show proof of your identity and cash.
2. First Abu Dhabi Bank (FAB)
Even though its main office is in Abu Dhabi, FAB has a big presence in Dubai and provides a wide range of foreign banking services, such as mortgages designed for investors and buyers who do not live in the UAE.
Conditions for International Buyers:
There are mortgage programs for people who don’t live in the country that offer low rates and flexible terms. Applicants usually need to show proof of pay and a passport.
3. HSBC Middle East
HSBC is a strong option for foreign buyers who need easy cross-border banking and accounts in more than one currency.
Conditions for International Buyers:
Premier or Private Bank customers can get mortgages even if they don’t live in the country, but the requirements may be tougher than at local banks. Investors who want to move money between countries will like this bank’s multi-currency accounts.
4. Mashreq Bank
The Mashreq bank is one of the oldest private banks in the UAE. It has strong digital services and options for foreign banking.
Conditions for International Buyers:
Non-residents can get home loans of up to AED 10 million with flexible eligibility requirements and repayment terms of up to 25 years. However, the loan may only cover a part of the property’s value.
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5. Abu Dhabi Commercial Bank (ADCB)
ADCB is known for having a wide range of goods for both individuals and businesses. One of these is mortgages, which can appeal to investors from other countries.
Conditions for International Buyers:
Mortgage loans with variable or set rates are available for non-residents for up to 50% of the loan amount. Standard forms of ID, like a passport and proof of income, are enough to start an account.
6. Dubai Islamic Bank (DIB)
For buyers who prefer Sharia-compliant financial products, DIB is a leading choice.
Conditions for International Buyers:
DIB has programs for non-residents to fund homes with flexible terms and profit rate structures that follow the rules of Islamic finance. To start an account, you need a passport and proof of income.
7. Standard Chartered UAE
Standard Chartered is perfect for property investors who want foreign services because it has both global financial knowledge and a presence in the UAE.
Conditions for International Buyers:
Provides full checking and savings accounts, choices for multiple currencies, and help for sending money between countries. For mortgage goods, you may need to be eligible under global banking tiers.
8. RAKBANK
RAKBANK, or the National Bank of Ras Al Khaimah, puts the customer first by providing competitive account options and internet channels that are easy to use.
Conditions for International Buyers:
Residents and expats can both get accounts with the necessary paperwork. Non-residents may not be able to get as much help with financing property as people who live in the UAE.
9. Citibank UAE
Citibank’s foreign reputation and wealth management services make it appealing to wealthy investors and home buyers who need to connect to the world.
Conditions for International Buyers:
The best choice for complex banking services. Wealth, investment, and global account options are all good, but some products have big requirements, like having a certain amount of assets.
10. BNP Paribas Middle East
BNP Paribas focuses on business and investment clients, but because it is backed by banks around the world, it can also help foreign buyers with complicated banking needs.
Conditions for International Buyers:
Mostly deals with business banking, private banking, and managing wealth. Individual accounts and mortgages may be more specialized or have higher requirements for who can get them.
Frequently Asked Questions
The best 10 banks in Dubai stand out because they can accept non-residents, offer accounts in more than one currency, help with international money transfers, and legally finance property purchases made by foreign buyers.
You can start a savings or investment account at most of the top 10 banks in Dubai even if you don’t live there. However, the requirements are tighter than for residents and usually include copies of passports, proof of an address abroad, bank references, and promises to keep a certain amount of money in the account at all times.
Several of the top 10 banks in Dubai offer mortgages to people who don’t live in Dubai. The most you can borrow is usually 50–60% of the value of the house, and the interest rates are higher and the terms are shorter than with a resident mortgage.
You don’t have to live in the UAE to do simple banking or get a mortgage. However, being a resident of Dubai makes it much easier to get credit from the top 10 banks there, drops the minimum balances, and raises eligibility.
Investors from other countries usually choose banks that have strong international departments, global transfer networks, and non-resident lending desks. These banks also have better ways of making sure they follow the rules for checking foreign income.
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