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CBD Fixed Deposit Account

CBD (Commercial Bank of Dubai) offers a wide range of bank accounts to meet the particular need of an individual. Fixed deposit (FD) account is one of the main products of CBD that helps its account holder to gain high returns on deposit amounts in a smart manner.

The bank has 7 variants of the fixed deposit account i.e. Step-Up CBD Elite, Step-Up Time Deposit, Bonus Booster Deposit, Premium Saver Deposit, Time Deposit, Unit Time Deposit, and Long Term Deposit. All of these bank accounts are available in a tenor of up to 36 months. The longer is the tenure of the deposit, higher would be returns.

Each of these CBD fixed deposit accounts comes with a wide range of features & benefits, helping its account holder to make the most of their money. In addition to this, account holders can avail attractive & competitive interest rate on their surplus funds.

CBD Fixed Deposit Account - Features & Benefits

Following are the main features & benefits of the fixed deposit accounts offered by CBD:

Step-up CBD Elite Account

  • Fixed Tenor: This CBD fixed deposit account is available for 12 months.
  • Exclusively Designed: CBD has exclusively designed this bank account for CBD Elite Clients only.
  • Competitive Interest Rates: The account holder can avail attractive & competitive interest rate accelerating a maximum of 2.22 percent.

Step-up Time Deposit Account

  • Fixed Tenor: This CBD fixed deposit account is available for 24 months.
  • Competitive Interest Rates: The account holder can avail attractive & competitive interest rate accelerating a maximum of 4 percent.
  • Instant Account Opening: This FD account can be instantly opened via online banking.
  • Earned Interest: Interest accrued on a regular basis and it is credited on maturity or liquidation.
  • Low Minimum Deposit: The account holder is required to do a minimum deposit of AED 10,000.
  • Choice of Currency: This CBD Fixed Deposit Account is available in UAE Dirhams (AED) only.

Bonus Booster Deposit Account

  • Fixed Tenor: This fixed deposit account helps the account holder to build up their savings through monthly deposits over a period of 36 months.
  • Attractive Interest Rates: The account holder can avail attractive & competitive interest rate a maximum of 8.25 percent.
  • Instant Account Opening: This deposit account can be instantly opened via online banking.
  • Low Minimum Deposit: The account holder is required to do a minimum deposit of AED 1000.
  • Earned Interest: Interest accrued on a monthly basis and it is credited on maturity.
  • Choice of Currency: This CBD Fixed Deposit Account is available in UAE Dirhams (AED) only.
  • Banking Services: The account holder can choose a different way of CBD banking, from CBD mobile & online banking to CBD SMS banking in order to get a smooth & convenient banking experience.
  • Budget & Track Tool: It is an advanced personal financial management tool that enables the account holder to track all of their expenses, set their budgets, save money for their future, and a lot more.

Premium Saver Deposit Account

  • Fixed Tenor: This fixed deposit account helps the account holder to build up their savings through monthly deposits over a period of 18 months.
  • Low Minimum Deposit: The account holder is required to do a minimum deposit of AED 5, 000.
  • Attractive Interest Rates: The account holder can avail attractive & competitive interest rate a maximum of 2.59 percent on their surplus funds.
  • 2X Interest: One of the major benefits of this CBD Fixed Deposit Account is that it doubles the interest as well as a bonus every 6 months.
  • Earned Interest: Interest accrued on a monthly basis and it is credited on maturity.
  • Choice of Currency: This CBD Fixed Deposit Account is available in UAE Dirhams (AED) only.
  • Banking Service: The account holder can use the different CBD digital banking channels such as CBD online, mobile, and SMS banking to get any assistance.
  • Budget & Track Tool: This tool helps the account holder to manage their finance in a symmetric manner.

Time Deposit Account

  • Flexible Tenures: The account holder can avail flexible deposit tenures starting from seven days to three years.
  • Low Minimum Deposit: The account holder is required to do a minimum deposit of AED 10, 000 (or equivalent to other major currencies).
  • Choice of Currency: This account is available in AED as well as other major currencies.
  • Attractive Interest Rates: The account holder can avail competitive interest on their deposits.
  • Auto Renewal: This fixed deposit account provides the auto renewal facility also.
  • Premature Encashment: This bank account provides the facility of premature withdrawal. That means depositor is allowed to close the FD before its term ends. However, the bank may levy some charges on premature withdrawal.

Unit Time Deposit Account

  • Fixed Tenures: This CBD Fixed Deposit Account is available in two tenures i.e. 6 months and 1 year.
  • Low Minimum Deposit: The account holder is required to do a minimum deposit of AED 100, 000.
  • Attractive Interest Rates: The account holder can avail competitive interest on their mature deposits.
Tenor Interest Rates (per month)
6 Months
  • 1 percent
1 Year
  • 2 percent

 

  • Ultimate Flexibility: This fixed deposit account provides the flexibility of withdrawals in unit/s while continuing to gain agreed interest on the remaining surplus funds.
  • Partial Withdrawal: This bank account provides the facility of partial withdrawals. But the withdrawal amounts must be 10,000 AED & its multiple thereof.

Eligibility Criteria to Open CBD Fixed Deposit Account in the UAE

Below specified are the eligibility criteria for opening a Fixed Deposit Account with CBD:

CBD Fixed Deposit Accounts Eligibility Criteria
Step-up CBD Elite
  • N/A
Step-up Time Deposit
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Resident only.
Bonus Booster Deposit
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Resident only.
Premium Saver Deposit
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Resident only.
Time Deposit
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Resident or expatriates.
Unit Time Deposit
  • Minimum Age Requirement: 18 years
  • Other Requirements: UAE Nationals or UAE Resident or expatriates.

Documents Required to Open CBD Fixed Deposit Account in the UAE

The applicant is required to submit the following documents in order to open a fixed deposit account with CBD:

CBD Fixed Deposit Accounts  Documents Required
Step-up CBD Elite
  • N/A
Step-up Time Deposit
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Deposit Application Form.
Bonus Booster Deposit
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Deposit Application Form.
Premium Saver Deposit
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Deposit Application Form.
Time Deposit
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa
  • Completed Deposit Placing Form.
Unit Time Deposit
  • National ID or Passport (valid)
  • Emirates ID
  • Resident Visa

How to Open CBD Fixed Deposit Account in the UAE?

Interested people can open a CBD Fixed Deposit Account through the following ways:

  • Though online banking
  • By visiting the nearest CBD branch
  • Though phone banking

How to Close a CBD Fixed Deposit Account in the UAE?

Closing a CBD Fixed Deposit Account is a simple and easy process and it can be done online as well as offline by visiting the nearest bank branch. The account holder can close a fixed deposit account before maturity & after maturity also.

Frequently Asked Questions

Q.1. What is the tenure period for fixed deposit accounts?

The tenure period depends on the type of CBD fixed deposit account, ranging from 7 days to 36 months.

Q.2. What is the minimum & maximum amount I can invest in a fixed deposit account?

The minimum amount can be low as AED 1,000 or as high as AED 100,000.

Q.3. How can I avail assistance in case of any doubt?

You can contact CBD customer service at 600 575 556 in order to resolve any of your doubts regarding CBD fixed deposit accounts.

Q.4.What is the approximate range of fixed deposit interest offered by CBD?

The FD interest rate can range from 1 percent to 8.25 percent depending on the type of accounts you are investing the funds in.

Q.5. What documents do I need to submit for opening a fixed deposit account with CBD?

National ID or a valid Passport, Emirates ID, and Resident Visa are all the required documents that you need to submit in order to open a fixed deposit account with CBD.

Q.6. What is the minimum age required for opening an FD account with CBD?

The applicant needs to be at least 18 years old for opening an FD account with CBD.

Q.7. Is there any auto renewal facility in any of the CBD Fixed Deposit Accounts?

Yes, you can avail the auto renewal facility with ‘CBD Time Deposit Account’. It basically allows your FD to get renewed automatically for the same time period as the original deposit.

Q.8. How can I apply for CBD Fixed Deposit Account?

You can apply through online banking, visiting the nearest CBD branch, or via phone banking.