If you are looking to open a Student account with NBD, you can take all the advantages which are provided by the NBD Bank. There are very few Conditions and requirements to open a Student account with an NBD Bank. Opening a student account with NBD Bank is free of charge. There are many services provided by the NBD Bank including Debit Cards, Internet Banking, Mobile Banking Application services, 24×7 services provider and good student loans and many more. You can also earn an attractive interest rate of up to 4.00% per annum with NBD Bank in Dubai, read this article to know more about the Emirates NBD student account
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About NBD Bank
On June 19, 1963, Sheikh Rashid bin Saeed Al Maktoum, the ruler of Dubai at the time, founded Emirates NBD as the National Bank of Dubai (NBD), creating the first national bank to be established in Dubai. On March 6th, 2007, Emirates NBD was formed through the merger of NBD and Emirates Bank International (EBI).
| Bank Name | NBD Bank |
| Charge of Account opening | Zero n |
| Highest Interest Rate | Up to 0.75% per annum |
| Overdraft Fee | Zero |
| ATM Withdrawal Fee | Zero |
Benefits of banking with Emirates NBD
There are several Benefits of the Emirates NBD student account, fe are mentioned below:
- NBD Student Loan: NBD offers education loan options with a flexible repayment schedule and good cost coverage.
- NBD Scholarship: NBD grants secondary school scholarships each year to students who have financial need but who demonstrate academic promise. The scholarships pay for tuition, books, uniforms, transportation, and supplies in addition to tuition.
- NBD Credit Card for students: This Credit card for student provide various services like an Exclusive Concierge Desk and privileges, 15% rewards for spending at dnata, 10% rewards for Duty-Free Shopping, and Complimentary airport lounge access., Complimentary access to top golf courses across the UAE.
- NBD 24×7 Service: Account holders have simple access to their Emirates NBD Savings Accounts around the clock. They have access to it via landlines, cell phones, ATMs, and the Internet.
Must Read: HOW TO GET AN EDUCATION LOAN IN DUBAI? HERE’S THE COMPLETE GUIDE!
Pros and Cons of NBD Student Account
Here are the pros and cons of the Emirates NBD Student Account
| Pros | Cons |
| Free Debit Card | No Minimum Balance Requirements |
| Free ATM Withdrawals | Limited Features |
| The interest rate on Overdraft is 0% | Only for those students who enrolled for full-time studies |
| Access to Online Banking services | |
| Discounted Fee on a range of NBD services |
Reward and Features
Here are a few Reward and Features provided by Emirates NBD Student Account
- Free account opening
- Your first chequebook is free when you use your Youth Go4it Debit Card to save.
- Tailored savings strategies
- With Goal Recurring Deposits, preferential rates and adjustable terms are available.
- Free transfers between domestic and foreign locations using mobile and online banking
- 8 free transactions per month at the teller
- Benefits and free transaction banking services
- With Emirates NBD offers, you can get movie discounts, free ferry tickets, and Agoda Hotel price breaks.
- Deals on the Youth Go4it Debit Card might help you save up to AED 2,090 each year.
- Instant account opening and complete digitization
- Quick and clear
- Free platinum credit card with up to 1.5% interest per year*
Things to Be Aware Of
- 3 ATM balance inquiry fees
- The exchange rate transaction fee is 1.84%.
- Remittances to the Philippines, Pakistan, Sri Lanka, and India AED9.9
Must Read: Best Bank Accounts for International Students in the USA
Eligibility Requirements
International students are similarly qualified to create a bank account as any other UAE resident. The procedure of opening a student account is simple, and many local banks provide students taking their course at an accredited university in the UAE with a student package.
To be eligible for an Emirates NBD student account you need to fulfil the following criteria
- A Valid Emirates ID
- A Valid Passport
- A Phone number for UAE residents
- Students under the age of 23
- You must have an average monthly balance of AED 2,500.
Documents Required
To open a student account with NBD Bank you need to full fill the requirements of documents, below is the list of documents
- Passport, visa & Emirates ID of the applicant
- A copy of the student ID card
- Applicant Contact Details
How to open Student Account with NBD Bank
For opening a student account with NBD Bank, you can easily open your account in three ways,
- You can open your account through online mode, visit the official website of the bank and fulfil all the requirements and apply for a student account
- With the help of a Mobile banking Application. You can open a new account instantly by downloading the Emirates NBD Mobile Banking App from App Store or Google Play using your smartphone in the comfort of your home and selecting the “I am a new customer” option.
- For an Easy and smooth process you can visit any nearby branch they will assist you with the same.
Must Read: Scholarships in Dubai
FAQs
Ans. If your salary is transferred to Emirates NBD, there is no needed minimum balance. A minimum average balance of AED 3,000 must be kept in your account each month if your salary is not transferred to Emirates NBD.
Ans. Customers of Emirates NBD can choose from a variety of bank accounts. The bank’s salary account comes with an AED 3,000 minimum salary requirement for account holders.
Ans. Open a Minor Account for your minor children to help them learn how to handle their savings and spending money. The guardian of the minor must come to one of our branches with the following identification: their Emirates ID or passport.
This was all about the Emirates NBD student account in Dubai. If you are looking to discuss anything which is related to student accounts or international money transfers, reach out to team fly.finance for help.
