Having a savings account is essential once you start earning, as such a bank account can help you in securing your capital along with attractive interest rates.
Fixed deposits are one of the safest ways of savings, which are free from any market risks. The banks in UAE provide a variety of conventional and Islamic fixed deposits schemes with flexible tenure and decent profit/interest. A fixed deposit is a term investment plan where the investor deposits the amount for a fixed period and the bank pays interest on the funds. The interest accrued on the funds is paid at the time of maturity.
Several banks in UAE offer tailor-made fixed deposits that allow partial or premature withdrawals. From time to time, these banks keep on enhancing the fixed deposits for customers’ benefits. This article lists the latest fixed deposit accounts in the UAE with their unique features and benefits.
Being a fast emerging economy, UAE focuses on the versatility of banks to offer custom-made fixed deposit solutions for better returns. Numerous banks offer early withdrawal or partial withdrawal in times of emergencies without levying any charge. Following is the list of the latest fixed deposit schemes in the UAE.
Fixed Deposit Account | Minimum Balance (AED) | Interest Rates Offered up to | Accepted Currencies | Additional Features |
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NBAD Smart Deposits | 30,000 | 3.98% | AED, USD, EUR |
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FGB Advantage Plus Deposits | 350,000 | 2.75% | AED, USD, EUR |
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ENBD Flexi Deposits | 10,000 | 2.5% | AED, USD, GBP, EUR |
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ENBD RegulaReturn Deposits | 10,000 | 1.75% | AED, USD, GBP, EUR |
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ENBD Mudaraba General Investments | 10,000 | 1.38% (Expected profit rate) | AED and USD |
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RAK Bank Fixed Deposit Plus | 25,000 AED | 0.86% | AED and USD |
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Standard Chartered Fixed Deposits | 25,000 | 0.25% | AED, USD |
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Mashreq Bank Step Up Saver Account | 10,000 | 1.75% | AED |
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Mashreq Bank Mudaraba Term Investment | 10,000 | 1.01% (Expected Profit Rate) | AED, USD, EUR, GBP |
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UNB Accelerating Rate Deposits | 50,000 | 2.0% | AED |
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UNB Fixed Deposits | 50,000 | 0.3% | AED, USD, EUR, GBP |
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ADCB Fixed Deposit Advantage | 50,000 | 1.4% | AED, USD, GBP, EUR |
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UAB Fixed Deposits | 10,000 | 1.5% | AED, USD, EUR, GBP |
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NOOR Term Deposits | 10,000 | 1.4% | AED, USD, EUR, GBP |
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NOOR Wakala Deposits | 250,000 | 0.7% | AED, USD, GBP, EUR |
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Note: The profit/interest rates may change as per the bank’s discretion.
Here is the list of top performing fixed deposit accounts in UAE in terms of features, profit/interest rates and ease of application.
The fixed deposit accounts in UAE come with numerous advantages. The FDs are safe and fetch you set interest rates despite market instability. Following are some of the advantages of opening a fixed deposit scheme in the UAE.
Fixed Deposits are one of the most popular financial tools to grow your savings with safety and security. However, before choosing a fixed deposit account, the individual must go through all the latest fixed deposit schemes in UAE and select an account according to his/her financial needs.