Attractive interest rates on long-term deposits.
- Tenures available for 2, 3, 4, 5, 7 and 10 years
- Available in AED, USD, GBP and EUR
- Choose to have interest paid monthly, semi-annually, or on maturity
- Minimum deposit amount: AED 30,000 or USD 10,000 or equivalent in other currencies.
- Overdraft facility against Smart Deposit
- Credit Cards against Smart Deposit
- Salaried and non-salaried customers
- Applicable for UAE residents and non-residents
- Minors are eligible, but to be opened and operated on the instruction of the minor’s father or court appointed guardian
- Smart 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 and charges
- Premature withdrawal/early breakage fee: AED 100/-
- Interest will be paid only if the deposit is retained for a minimum period of 6 months
- Customer should have an existing account for funding the Smart Deposit. The Smart 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 at its sole discretion allow a premature withdrawal of the whole of the Smart Deposit. The Customer accepts that by doing so, the Fixed Deposit may be subject to a lower interest and premature withdrawal fee. If the interest earned has already been paid to the Designated Account under the "Monthly Interest Payment" or the "Half Yearly Interest Payment" option, the excess amount paid as interest will be recovered from the principal amount
- In the case of a Smart Deposit withdrawn in full within 6 months of making the Deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall not be entitled to any interest
- In the case of a Smart Deposit withdrawn in full after 6 months of making the Deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall be entitled to 50% of the interest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.