Yes, many UAE banks offer minor or junior savings accounts, typically opened and operated by a parent or legal guardian on the child's behalf until the child reaches a specified age, at which point control can transfer to the child directly. These accounts are usually designed for savings rather than everyday transactions, often with limited or no card facility for younger children, and generally require the parent's own account and identification documents alongside the child's birth certificate or passport to open.
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Frequently Asked Questions
At what age does control of the account typically transfer to the child?
This varies by bank, but is commonly linked to reaching legal adulthood, at which point the account can generally be converted to a standard account in the child's own name.
Do children's accounts come with a debit card?
Some banks offer a linked or restricted card for older children within the junior account programme, though younger children's accounts are more commonly savings-only without card access.
Does a children's savings account earn interest?
Many junior accounts do pay interest, sometimes at a promotional rate designed to encourage a savings habit, though this varies by bank.
Can both parents jointly manage a child's account?
This depends on the bank's specific account structure - some allow joint parental access while others designate a single primary guardian on the account.
How can I compare children's savings account options?
Use the bank account finder to compare junior account features, interest rates, and age-based conditions across banks.