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Fixed Deposits

Earn a higher interest rate, with more benefits and flexibility.

Purple 3

Features

  • Flexible tenures from 1 week to 12 months
  • Attractive interest rates
  • Overdraft facility against the fixed deposit
  • Minimum deposit amount: AED 5000/ or USD 1500/- (or equivalent in any other foreign currency)
  • Available in all major currencies: AED, USD, GBP 
  • Can be opened jointly

 

 

Eligibility

  • Applicant must hold a current, saving or call account with FAB
  • Applicable for UAE residents and non-residents
  • Salaried and non-salaried customers are eligible
  • Minors are eligible, but deposit account must be opened and operated on the instruction of the minor’s father or court appointed guardian

 

Required Documents

  • Fixed deposit application form completed and signed
  • Copy of valid Passport / Residence Visa / Emirates ID (Originals must also be presented)

Note: Additional documents may be required depending on case-by-case basis at the sole discretion of the Bank

 

Fees & Charges

  • Premature withdrawal/early breakage fee: AED 100/-

 

Conditions

  • Customer should have an existing account for funding the Fixed Deposit. The Fixed Deposit will be opened in the same currency of the account and the proceeds will be credited to the same currency account.
  • Partial withdrawal is not allowed, but the Bank may, in its sole discretion, allow a premature withdrawal of the whole of the Fixed Deposit. The Customer accepts that by doing so, the Fixed Deposit may be subject to a lower interest and premature withdrawal fee
  • In the case of a Fixed Deposit withdrawn in full within 7 days of making the Deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall not be entitled to any interest.
  • In the case of a Fixed Deposit withdrawn in full after 7 days of making the Deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall be entitled to 50% of the interest rate, for the period that the deposit has been maintained.

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