Smart Deposit Saving Account
Attractive interest rates on long-term deposits.
- Tenures for 2, 3, 4, 5, 7 and 10 years
- Available in all major currencies: AED, USD, GBP and EUR
- Choose to have interest paid monthly, semi-annually, or on maturity
- Minimum deposit amount: AED 30,000, USD 10,000 or equivalent in other currencies.
- Salaried and non-salaried customers
- Applicable for UAE residents and non-residents
- You must have an FAB savings or current account
- Minors are eligible, but to be opened and operated by their guardian subject to bank approval
- 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
- Interest will be paid only if the deposit is retained for a minimum period of 6 months
- Premature withdrawal
The Bank, on request from a depositor, may at its discretion allow premature withdrawal of the deposit. For term deposits that are prematurely in cashed, the interest paid will be 0.5 % lower than the rate prevailing on the date of liquidation for the period for which the deposit remained with the bank or the rate of the period for which the deposit remained with the bank at the date of booking, + AED 100 (penalty charge may change from time to time).
Overdraft against Smart Deposit
- Account with Fixed Interest Payment Option: 95% of the principle amount
- Account with Advance Interest Payment Option: 60% of the principle amount
- Interest on overdraft : 1.00% p.a. over the deposit rate
Credit Cards against Smart Deposit
- Account with Fixed Interest Payment Option: 75% of the principle amount
- Account with Advance Interest Payment Option: 50% of the principle amount
- Interest : 0.99% p.m.
* Terms and Conditions apply