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Standard Chartered Bank is one of the leading international banks in the world. Established for more than 150 years and one of the oldest banks in the UAE, first opening in Sharjah in 1958. Standard Chartered has remained so popular due to its variety of Islamic and conventional banking products and services.
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Standard Chartered bank are popular in the UAE due to their high profit rates and special features. Below are some of the benefits of opening a Standard Chartered account:
Standard Chartered offers two types of current accounts for customers:
Standard Current Account:
With this account there is a minimum balance requirement of AED 3,000. If the account holders balance falls below this, they need to pay a fee of AED 26.25 each month it's below. Some features that make this account popular is that the account holder can make unlimited deposits and withdrawals. This account is also available in multiple currencies other than the United Arab Emirates Dirham, such as USD.
Saadiq Current Account:
Saadiq Current Account is the other account offered by Standard Chartered. This account is also Shariah-compliant. This account is available in multiple currencies and comes with the ability to make unlimited transactions.
Standard Chartered offers four types of savings accounts:
Savings Account:
Standard Chartered Bank has a standard savings account option that allows the holder easy access to their funds. This account also offers high rates of return and unlimited transactions. Interest can still be gathered on savings. This account is available in multiple currencies including AED and USD and allows holders to make not only on time payments, but recurring payments through this account.
XtraSaver Account:
The XtraSaver Account is regarded as one of the best options for saving. This is down to the fact, the account comes many benefits such as multiple currencies savings, and online banking options. The account can be opened with just AED 3,000 with earnings of 1.10% p.a. interest, calculated on your average monthly balance. However, account holders are limited to just three transactions monthly. Anyone who exceeds this will not qualify for interest on their savings.
Saadiq XtraSaver Account:
This is a Shariah-compliant bank account with Standard Chartered. This account can be opened with just AED 3,000 and is popular in the UAE due to its high interest rates. Starting at 0.25%, but holders can increase their returns to 1.10%. It's important to note that the profit is calculated based on the holders average balance and paid monthly. However, there is no minimum balance requirement.
Standard Chartered Bank offers two types of fixed deposits accounts:
Fixed Deposit Account:
The Standard Chartered Fixed Deposit Account requires a minimum deposit of AED 25,000 in order to get started. The account holder however can benefit from instant cash, withdrawing the interest as soon as the Upfront Fixed Deposit is set up. This account is available in multiple currencies. The holder can also choose a flexible tenure from 1 -12 months.
Saadiq Term Account:
This deposit account is a fixed deposit approved by Shariah Supervisory Committee. The Saadiq Term Account allows for the account holder to choose a flexible tenure. This account also comes with high interest rates. However, a minimum deposit of AED 25,000 is required to open this account. Profits are generated monthly, and credited into the account at maturity.
It's really simple to open a Standard Chartered bank account. All you have to do is follow one of the steps below:
Standard Chartered has a wide variety of credit card options for its customers. A whopping five cards in total. hey range from conventional credit cards to Islamic banking credit cards. Each card is packed with specific benefits. Here is the list of credit cards offered by Standard Chartered Bank:
Standard Chartered Bank - Cashback Credit Card
Standard Chartered Bank - Saadiq Credit Card
Standard Chartered Bank - Visa Signature X
Standard Chartered - Manhattan Rewards+
Standard Chartered Bank - Visa Infinite Credit Card