CBI Fixed Deposit
The CBI Fixed Deposit Account offers flexible term and high-interest rates. However, interest rates are subject to change anytime.
Also, the account for Fixed Deposit can be opened in any of the major currency including the Arab Emirates Dirham.
CBI Fixed Deposit Account - Features & Benefits
The features and benefits of the CBI FD account include:
- Interest - Customers can earn up to 4% interest on their deposit.
- Tenor- Up to 61 months of CBI Fixed Deposit Tenor.
- Deposit- The customer can open an account with a minimum deposit of AED 10,000.
- Account Availability- Customers can open a fixed deposit account with any of the major currencies.
- Overdraft- The facility of Overdraft is secure and is available up to 90%.
- Interest payment: The interest is credited either annually or monthly.
- Account opening- Any individual or an entity can open a FD with the CBI.
Following is the Detailed Interest Rate offered by the CBI Fixed Deposit:
|TENURE||INDICATIVE INTEREST RATE FOR AED FD (NTB FUNDS)(UP TO 20 MILLION AED)|
|A Year and 6 months- 3 Years||2.75%|
|5 Years and 1 month||4%|
Eligibility Criteria to Open CBI Fixed Deposit Account in UAE
To open a CBI Fixed Deposit Account, the required criteria for eligibility are as follows:
- The applicant must have a primary account with the Commercial International Bank in the UAE
- The applicant must open the account with a deposit of minimum AED 10,000
Documents Required to Open CBI Fixed Deposit Account in UAE
The required documents to open CBI Fixed Deposit Account in the UAE are as follows:
- An applicant’s passport
- Visa of the Expats
- Emirates identity card or Labour Card for the UAE nationals
- Address proof of the applicant
How to Open CBI Fixed Deposit Account in the UAE
To open a CBI Fixed Deposit Account in the UAE, the applications can apply through:
- Phone Banking
- Internet Banking
- Visit any branch of the CBI
How to Close CBI Fixed Deposit Account in the UAE
To close a CBI Fixed Deposit Account in the UAE, the customer will need to submit a letter to the bank.
CBI Fixed Deposit Account - FAQs
Q.1 For a new customer, what are the requirements for Personal Banking with the CBI?
Ans: The requirements for the Personal Banking with the CBI are below-
- Minimum monthly income of AED 15,000
- Relationship Balance requires a minimum of AED 70,000
Q.2 For a new customer, what are the requirements for Priority Banking with CBI First?
Ans: The requirements for the Priority Banking with the CBI are below-
- Minimum monthly income of AED 40,000
- Relationship Balance requires a minimum of AED 300,000
Q.3 Can I use my expired Passport to apply for the CBI Fixed Deposit?
Ans: No, your Passport must have a minimum of 3 months validity left.
Q.4 What documents can I submit for the address proof?
Ans: For the documents regarding address proof, you can submit any of the following-
- Statement of your Bank Account
- Lease contract
- Salary Transfer letter or Salary certificate
- Utility Bill
Q.5 Which currencies are a part of the major currencies?
Ans: The major currencies are EUR, AED, USD, and GBP.
Q.6 Is there any way to open a CBI Fixed Deposit Account without having any primary account?
Ans: No, there is no other way. To open a Fixed Deposit Account with the CBI, you need to have a Savings or Current Account with the bank.
Q.7 If I want to close the account within 1 year of opening it, will I be charged?
Ans: Yes, you will be charged AED 100 for closing an account with a year of opening it.
Q.8 Is there any relationship fee?
Ans: No, there is no relationship fee. However, you will have to maintain the relationship balance.
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