{"id":377,"date":"2017-03-24T10:10:10","date_gmt":"2017-03-24T10:10:10","guid":{"rendered":"http:\/\/139.59.38.172:8081\/?p=377"},"modified":"2019-06-03T11:58:24","modified_gmt":"2019-06-03T11:58:24","slug":"best-child-savings-account-in-dubai","status":"publish","type":"post","link":"https:\/\/www.mymoneysouq.com\/financial-blog\/best-child-savings-account-in-dubai\/","title":{"rendered":"Best Child savings account in Dubai"},"content":{"rendered":"<h2><strong>What is Child saving account?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Saving is an attribute that needs careful honing and has to be instilled since childhood. Concurring on this, we have evaluated many options available in Dubai for opening a <\/span><i><span style=\"font-weight: 400;\">child savings account<\/span><\/i><span style=\"font-weight: 400;\">. Teaching a child the importance and value of money management and empowering them is the best investment a parent can make.<\/span><\/p>\n<p>Whenever your child has a savings account of their own, it is always beneficial for them:<\/p>\n<p><span style=\"font-weight: 400;\">&#8211; It empowers your child to be financially responsible.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">&#8211; Early exposure to the world of banking and investment.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">&#8211; Encourages your child to save money.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">&#8211; Helps securing financial ups and downs in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Everyone agrees that their children must know the importance of the financial awareness and beneficial opening a savings account for your children proves out to be. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let us look at the options available and also evaluate them. After all, it\u2019s the future of the young ones; doing your homework is always recommended. This helps you avoid any roadblocks as well as in deciding and selecting the best option available.<\/span><\/p>\n<p>Key points of information on Top Children Savings Account in the country:<\/p>\n<h3><strong><i>Banoon Children\u2019s Savings Account by <\/i><em>Abu Dhabi Islamic Bank<\/em><\/strong><\/h3>\n<p>See all children savings accounts from ADIB here: &nbsp;<a href=\"https:\/\/www.mymoneysouq.com\/accounts\/adib-childrens-account-in-uae\">Link<\/a><\/p>\n<h4><strong>Account overview<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">Minimum balance required is 0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Annual return is 0.53%<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-383\" src=\"https:\/\/res.cloudinary.com\/pricejugaad\/image\/upload\/v1526295238\/islamic-bank_pkayu0.jpg\" alt=\"\" width=\"462\" height=\"308\"><\/p>\n<h4><strong>Benefits of opening ADIB Banoon savings account:<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">Darhoom prepaid debit card<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Standing Instructions for your convenience to help you save regularly from your ADIB account to your child&#8217;s Banoon Account. <\/span><\/li>\n<li><span style=\"font-weight: 400;\">Mobile App<\/span><\/li>\n<li><span style=\"font-weight: 400;\">A higher expected profit rate<\/span><\/li>\n<\/ul>\n<h4><strong>Documents required:<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">Passport\/ID of Parent.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Passport\/ID of child.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Valid Visa for expatriates.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">1000 AED as opening balance.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Valid Emirates ID of Parent &amp; Child (for UAE Nationals &amp; Residents)<\/span><\/li>\n<\/ul>\n<h4><strong>Profit Rates:<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">AED 5K to 10K &#8211; 0.650%<\/span><\/li>\n<li><span style=\"font-weight: 400;\">AED 10K to 25K &#8211; 0.700%<\/span><\/li>\n<li><span style=\"font-weight: 400;\">AED 25K to 250K &#8211; 0.800%<\/span><\/li>\n<li><span style=\"font-weight: 400;\">AED 250K and above &#8211; 0.820%<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">*Minimum balance in Banoon account for profit entitlement is AED 5,000 per month.<\/span><\/p>\n<h3><strong><i>Shaatir savings account by Dubai Islamic Bank<\/i><\/strong><\/h3>\n<p>See all children savings accounts from Dubai Islamic Bank: <a href=\"https:\/\/www.mymoneysouq.com\/accounts\/dubai-islamic-bank-childrens-account-in-uae\">Link<\/a><\/p>\n<h4><strong>Account overview<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">Shaatir Account in child\u2019s name<\/span><\/li>\n<li><span style=\"font-weight: 400;\">No Minimum balance requirement<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-384\" src=\"https:\/\/res.cloudinary.com\/pricejugaad\/image\/upload\/v1526301253\/sahib-acount_wxdhza.jpg\" alt=\"\" width=\"607\" height=\"210\"><\/p>\n<h4><strong>Benefits of opening DIB Shaatir savings account<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">Higher expected profits<\/span><\/li>\n<li><span style=\"font-weight: 400;\">24-hours Al Islami Phone Banking and Online Banking<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Shaatir ATM Card for child (balance enquiry only)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">No Maintenance Fees<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Dedicated Shaatir children\u2019s website<\/span><\/li>\n<\/ul>\n<h4><strong>Documents required<\/strong><\/h4>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Original valid passport with residence visa (for non-UAE nationals) of the guardian and the child.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">We recommend these three savings bank account schemes for your child. This will not only ensure a little bit of financial independence to your children, but will also help them grow onto financially responsible adults. Our best wishes as you take the necessary steps to secure your child&#8217;s future.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Child saving account? Saving is an attribute that needs careful honing and has to be instilled since childhood. Concurring on this, we have evaluated many options available in Dubai for opening a child savings account. Teaching a child the importance and value of money management and empowering them is the best investment a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-377","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Best Child savings account in Dubai - MyMoneySouq Financial Blog<\/title>\n<meta name=\"description\" content=\"Teaching a child the importance and value of money management and empowering them is the best investment a parent can make. 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