Emirates NBD Fixed Deposit Account

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Emirates NBD is one of the leading banks in the UAE and MENAT region. The bank started its operations in 2007 after the merger of two famous banks - National Bank of Dubai and Emirates Bank International. Emirates NBD offers a wide range of banking services and products, ranging from savings and current accounts to term deposits and business accounts, providing its customers with financial benefits and growth.

The bank offers a number of conventional as well as Islamic fixed deposit accounts, offering flexibility and convenience of fund withdrawals during emergencies. Emirates NBD Fixed Deposit accounts focus on providing exclusive banking services and benefits. In addition, it provides an attractive interest rate to maximise savings over a specific time period.  

Types of Fixed Deposit Accounts in Emirates NBD

Emirates NBD offers a variety of fixed deposit schemes with a competitive interest rate. The key fixed deposits from Emirates NBD are mentioned below:

Features & Benefits of Emirates NBD Fixed Deposit Account 

Emirates NBD is well known for its customer satisfaction and premium banking services. An account holder enjoys numerous benefits on the Emirates NBD fixed deposits. Given below are some Emirates NBD Fixed Deposit Accounts.

FlexiDeposit Account

Emirates NBD FlexiDeposit Account is a type of fixed deposit that allows premature and partial withdrawals while still offering interest on the remaining balance. The minimum tenure of the deposit is three months and the account holder needs to maintain a minimum deposit of AED 10,000.

  • Flexible Tenure: Emirates NBD offers freedom to select the tenure of investment; however, the minimum tenure is three months. 
  • Attractive Interest Rate: FlexiDeposit Account offers a competitive rate of interest based on the tenure of investment and the amount of funds deposited.
  • Multiple Currencies Accepted: The account accepts all major international currencies like AED, USD, EUR, GBP, etc.
  • Premature Withdrawal: The account holder can withdraw funds partially or fully before maturity during the time of emergencies. Also, they can enjoy unlimited withdrawal frequency. Partial withdrawals can be made in units of 1 AED & multiple thereon.

Fixed Deposit Account

Emirates NBD Fixed Deposit account offers attractive returns on your funds to grow your savings. The fixed deposit requires a minimum deposit of AED 10,000 or its equivalent in major foreign currencies. Key benefits of Emirates NBD Fixed Deposits are mentioned below.

  • Flexible Tenure: The account holder has the option of flexible tenure starting from 7 days to 5 years.
  • High-Interest Rate: The account offers a healthy interest rate on the funds. The interest rates, however, depend on the tenure and the amount being deposited.
  • Premature Withdrawal: The account holder can withdraw their funds before the maturity date.
  • Overdraft Facility: The overdraft facility is available with Emirates NBD Fixed Deposit Account. The account holder can access their funds in times of financial emergency using this overdraft facility.
  • Currencies Accepted: The fixed deposit account accepts funds in UAE Dirham only.

FlexiSweep Deposit Account

FlexiSweep Deposit Account requires a deposit of only AED 1 or more, with a minimum tenure of three months to earn profits. The account can be linked with multiple other deposit accounts and funds can be transferred to those accounts to meet the shortfall.

  • Easy Set-Up: With a minimum tenure of investment as low as three months, the account holder can enjoy an easy set up with a minimum deposit of AED. 
  • Multiple Deposits: This deposit account allows multiple deposits to link to a preferable operative bank account.
  • Fund Transfer: With the FlexiSweep account, funds are automatically transferred from the deposit account to linked savings or current account to cover any shortfall.
  • Partial Withdrawals: The account holder can also partially withdraw funds in multiples of AED 1, while the remaining amount continues to earn interest.
  • Currencies Accepted: The account accepts funds in UAE Dirham only.

RegulaReturns Fixed Deposit Account

Emirates NBD offers a unique facility of earning the interest monthly, quarterly or half-yearly with the RegulaReturns Account. The account accepts major international currencies with a minimum deposit of AED 10,000.

  • Currencies Accepted: This fixed deposit account can be opened in all major currencies including AED, USD, EUR and GBP.
  • Flexible Tenure: This Emirates NBD fixed deposit account is available in different tenure options ranging from 3 months to 3 years.
  • Attractive Interest Rate: The depositor can avail a competitive rate of interest on their deposit balance.
  • Interest Pay Out: The account offers the freedom to choose between monthly, quarterly and half-yearly interest payouts.

Steady Saver Deposit Account

Emirates NBD Steady Saver Account offers a higher interest rate on the funds deposited for a longer period. The interest rate can go as high as 2.5% per annum.

  • Multiple Currencies: The account accepts multiple currencies such as AED, GBP and USD.
  • High Interest Rate: The account offers a high rate of interest month on month. Following is the maximum interest rate offered on this account depending on the currency:
AED USD GBP
A maximum of 1.66 percent A maximum of 0.72 percent A maximum of 0.13 percent

Wakala Deposits Account

Emirates NBD Wakala Deposits is a Sharia-compliant account that follows Islamic banking laws for profit payouts. The account is available to individuals and non-individuals. It can be opened with a minimum deposit of AED 4 million or USD 1 million.

  • Multiple Currencies: The account accepts deposits in AED and USD.
  • Flexible Tenure: A wide range of tenure options are available. The funds can be deposited for one month, three months, six months, nine months or twelve months.
  • Higher Profit Rates: The bank offers attractive profit rates depending on the tenure period and investments.

Mudaraba General Investment

Emirates NBD offers a sharia-compliant investment solution. The Mudaraba General Investment is a profit-sharing partnership where the returns depend on the underlying profit generating assets.

  • Multiple Currencies: This account is available in multiple currencies including AED & USD.
  • Flexible Tenure: The bank offers a wide range of investment tenure options ranging from one month to twenty-four months.
  • Premature Closure: Premature withdrawals are permitted, but the bank levies charges for early closure.
  • Auto-Renewal Facility: The funds in the Mudaraba General Investment gets automatically renewed on maturity or on special request.
  • Profit Rates Distribution: The bank pays profit on the invested amount on a quarterly basis.

Eligibility Criteria to Open an Emirates NBD Fixed Deposit Account in the UAE

The applicant needs to meet certain eligibility criteria prior to opening the deposit account. Listed below are the eligibility requirements for opening a fixed deposit account with the bank:

Emirates NBD Fixed Deposit Accounts Eligibility Criteria
FlexiDeposit Account Minimum Deposit Amount Required:
  • AED 10,000
Fixed Deposit Account Minimum Deposit Amount Required:
  • AED 10,000
Availability:
  • UAE Residents & Non-Residents
FlexiSweep Deposit Account Minimum Deposit Amount Required:
  • AED 1
Availability:
  • UAE Residents & Non-Residents
  • Single or Joint Account Holders
  • Partnership Companies/Sole Proprietorship/Limited Liability Companies/Joint Stock Companies
RegulaReturns Fixed Deposit Account Minimum Deposit Amount Required:
  • AED 10,000
Steady Saver Deposit Account Minimum Deposit Amount Required:
  • AED 10,000
Wakala Deposits Account Minimum Deposit Amount Required:
  • AED 4 Million or USD 1 Million
Availability:
  • Individuals & non-individuals
Mudaraba General Investment Minimum Deposit Amount Required:
  • AED 10,000
Availability:
  • Individuals & non-individuals
see more plans

*Note: An active savings or current account is mandatory for opening a fixed deposit account with Emirates NBD.

Documents Required to Open an Emirates NBD Fixed Deposit Account in UAE

Below mentioned are the required documents that the applicant needs to submit for opening an Emirates NBD Fixed Deposit Account: 

  • Emirates ID
  • Valid Passport & Resident Visa
  • Fixed Deposit Form

*Note: The applicant may need to submit some additional documents to open a fixed deposit account with Emirates NBD as per the requirements of the bank.

How to Open an Emirates NBD Fixed Deposit Account in the UAE?

Fixed Deposits Accounts are available for UAE residents & non-residents. Existing account holders can open an account through any of the below-mentioned ways:

  • Online: An individual can open a fixed deposit account online by visiting the official website of Emirates NBD.
  • Branch Applications: Alternatively, the applicant can also open an Emirates NBD Fixed Deposit Account by visiting the nearest Emirates NBD branch.
  • Mobile: The applicant also has an option to open an Emirates NBD fixed deposit account through mobile banking.

How to Close an Emirates NBD Fixed Deposit Account?

For account closure, the account holder can visit the nearest Emirates NBD branch and submit a request. Prior to that, the account holders are required to clear all the existing debts and loans. 

Emirates NBD Fixed Deposit Account FAQs

Q1: What is a fixed deposit (FD) account?

Ans: Fixed Deposits (also known as Time or Term Deposits) are financial products offered by banks that generally offer a higher rate of interest than the regular savings accounts until the specified maturity date. To be precise, fixed deposits are considered a safe investment that is always supposed to give higher returns.

Q2: Can I open an Emirates NBD Fixed Deposit Account in multiple currencies?

Ans: Yes, you can open an Emirates NBD Fixed Deposit Account in different currencies. However, the currencies accepted in Emirates NBD depend on the fixed deposit that an individual is applying for.

Q3: What is the tenure period for which I can open an Emirates NBD Fixed Deposit Account?

Ans: You can enjoy flexible terms starting from 7 days to 5 years.

Q.4. What is the limit of withdrawals in FlexiSweep Deposits?

Ans: The FlexiSweep Deposit account offers unlimited withdrawal frequency.

Q5: What is the minimum deposit amount required for opening an Emirates NBD Fixed Deposit Account?

Ans: The minimum deposit amount of 10,000 AED (or its equivalent in other available currencies) is required for opening a fixed deposit account with Emirates NBD.

Q6: How can I redeem a fixed deposit?

Ans: You can redeem your fixed deposit in the following manner:

  • Bank Branch: You can redeem your fixed deposit by visiting the nearest branch of Emirates NBD.
  • Online Banking: You can also redeem your fixed deposits by logging into your online banking and placing a request by selecting: My Finances> Accounts> Savings & Deposits. Then you need to select the fixed deposit which you would like to redeem.

Q7: What is the interest rate for a fixed deposit? Is the interest rate different for other currencies compared to UAE Dirham?

Ans: Well, the rate of interest varies depending on the currency and the applicable tenure.

Q8: Is premature withdrawal allowed with any of the Emirates NBD Fixed Deposit Accounts?

Ans: Yes, premature withdrawal is permitted with the FlexiDeposit Account and Fixed Deposit Account.

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