Childrens Account in Dubai, UAE

Childrens Account

Children are future of the world and one of the greatest gifts you can give them is to prepare them to be responsible and empowered adults around money. With children having an increasing exposure to the world, their dreams and aspirations know no bounds. Saving for their future can ensure that you provide them with the launch pad to help them fulfil their dreams.

While children must be encouraged to operate their accounts by depositing money whenever they save, the banking laws in UAE make it mandatory for such accounts to be opened jointly with a guardian. However, good financial habits cultivated at a younger age go a long way in making children financially responsible adults.

What Types of Childrens Accounts Are There?

In UAE, banks offer a huge variety of children’s accounts. It might seem confusing, but having a clear perspective of your financial needs and goals can help you select one that best suits your needs. Accounts can vary based on the interest rate offered, minimum balance requirement, charges for services and many other factors. It is important that you understand the schedule of charges and services before opening an account.

Childrens Accounts Interest Rates in UAE

Minimum Salary

Interest Rate

Loan Amount

Reducing Rate

Features of Childrens account?

In UAE, banks having realized the power of investing in our future generations, offer savings accounts specifically targeted towards children below the age of 18. Usually these accounts have the following features:

  • Most banks have no or very low minimum balance requirement
  • Usually banks provide better benefits for children’s accounts
  • These accounts are operated by the guardian of the child
  • Some banks offer debit cards for these accounts which might have restricted access
  • Some banks offer a Takaful life cover for the guardian with the child being the beneficiary
  • These accounts might be offered in foreign currencies too

Apart from the features listed above, the basic features of a savings account are applicable to these accounts as well. Despite the surge of e-banking and mobile-banking services, you might have to visit the branch on occasions. Ensure that you have one in your vicinity.

Fees and Charges

Various different terms may be included in a Childrens Account:

  • Debit card annual charges : Some banks offer free for life debit cards, while some offer it free for the first year only.
  • Unlimited usage of ATMs (including partner ATMs) : ATMs are where we withdraw most of our money from. Some banks offer unlimited ATM transactions. Even though the charges are minimal, they can add up to a big up over numerous withdrawals.
  • Charges for non-maintenance of minimum balance : Children’s accounts usually carry a small minimum balance requirement. In case of non-maintenance of the same, charges can be levied to your account. These can vary from bank to bank.
  • Withdrawal limits : Deposits are usually unlimited; however, withdrawals can be capped by an amount or number of transactions by banks.

Eligibility for Childrens Accounts in UAE

Every bank has its own eligibility criteria which needs to be checked individually. However, some basic requirements are as follows:

  • These accounts can be opened by children below the age of 18 with a guardian.
  • Most banks allow UAE and non-UAE nationals both to open the account.

Documents required for Childrens Account in UAE

As is the case with eligibility, every bank can have its own requirement of documents to process your account application. Apart from the application form, some basic documents needed are:

  • Original passport for verification along with a copy (of the guardian and child)
  • Copy of the visa (of the guardian)
  • Valid Emirates ID (of the guardian and child)

Please refer to the list of documents required by the bank you wish to open the children’s account with.

Islamic Childrens Accounts

Most banks also offer children’s accounts under Islamic laws of banking approved by The Shariah and Supervisory Board. Some features of these accounts are:

  • Most accounts are operated on the concept of Mudaraba. Your funds are invested in Shariah-compliant assets and the profits/losses are shared between you and the bank.
  • Most banks offer free debit cards, internet banking, phone banking, SMS-banking and mobile banking services.
  • Some banks offer special ATM cards for children (balance enquiry facility only)
  • Usually, banks offer Islamic savings accounts in AED and USD.

Banks offering Children’s account

Here is a look at a few banks that offer children’s account in UAE:

  • Abu Dhabi Commercial Bank (ADCB) – Child Saver account
  • Abu Dhabi Islamic Bank (ADIB) – Banoon Children’s savings account
  • HSBC – HSBC Premier Children’s savings account
  • National Bank of Abu Dhabi (NBAD) – First Step Savings account
  • Dubai Islamic Bank (DIB) – Shaatir savings account
  • Commercial Bank International (CBI) – CBI Saver account
  • National Bank of Oman (NBO) – Al Amaal Child savings account
  • Sharjah Islamic Bank - Sharjah Islamic Bank Hassalati account
  • Commercial Bank of Dubai (CBD) - CBD Mustaqbali Saving Scheme
  • First Gulf Bank (FGB) - FGB Child First savings account
  • Emirates Islamic – Emirates Islamic Child savings account
  • Union National Bank – Al Ahbab account


Q. Can my child do any transaction in the account?

A. No. Till your child reaches 18 years of age, he/she cannot do any transactions on the account. As a guardian, you will have to perform all banking related activities yourself.

Q. What if I want my child to use a debit card to withdraw money at times?

A. Some banks offer debit cards to children after the age of 15. You can also limit the amount of withdrawal on the card to avoid overspending. Please check with the bank before opening the account.

Q. What happens to the account when my child turns 18?

A. Usually, the account is automatically de-activated once the child reaches the age of 18 years. Customers have to visit the branch in order to convert the same account to a normal savings account.