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Emirates NBD Fixed Deposit Account

Emirates NBD offers a wide range of conventional & Islamic fixed deposit accounts that comes with the utmost flexibility and convenience of withdrawing deposits in times of financial emergency. The bank offers 7 types of fixed deposit accounts i.e. FlexiDeposits, Fixed Deposit, FlexiSweep Deposit, RegulaReturns Deposit, Steady Saver Deposit, Wakala Deposits, and Mudaraba General Investments. Emirates NBD’s fixed deposits account not only enable its customers to earn an attractive interest rate on their deposits but also help them to maximize their savings. In addition to this, the depositors can avail various other banking services that can meet their banking needs.

Emirates NBD Fixed Deposit Account Features & Benefits

Given below are the eminent features and benefits of the fixed deposit accounts offered by the Emirates NBD:

FlexiDeposits Account

  • Flexible Tenure: The account holder has the option of flexible tenure starting from the 3 months tenure.
  • High Interest Rate: This Emirates NBD Fixed Deposit Account offers a high rate of interest based on the amount duration as well as the currency of the deposit.
  • Multiple Currencies: This fixed deposit account can be opened in all major currencies including AED, USD, EUR, and GBP.
  • Premature Withdrawal: The depositor is allowed to withdraw their funds before the maturity date in times of financial emergency. Also, they can enjoy the unlimited withdrawal frequency. Well, partial withdrawals can be made in units of 1 AED & multiple thereon.

Fixed Deposit Account

  • Flexible Tenure: The account holder has the option of flexible tenure starting from the 7 days to 5 years.
  • High Interest Rate: This Emirates NBD Fixed Deposit Account offers a high rate of interest based on the amount duration as well as the currency of the deposit.
  • Premature Withdrawal: The depositor is allowed to withdraw their funds before the maturity date.
  • Overdraft Facility: The overdraft facility is available with this Emirates NBD Fixed Deposit Account. With this, the account holder can avail access to their funds in times of financial emergency.
  • Choice of Currency: This bank account can be opened in UAE Dirhams only.

FlexiSweep Deposit Account

  • Easy Set-Up: With a minimum deposit tenure as low as three months, the account holder can enjoy an easy set up.
  • Multiple Deposits: This bank account allows multiple deposits to link to a preferable operative bank account.
  • Fund Transfer: With this Emirates NBD Fixed Deposit Account, funds get automatically moved from the fixed deposit account to linked savings or current account to cover any shortfall.
  • Partial Withdrawals: The account holder can also make partial withdrawals in multiples of 1 AED. However, the remaining deposit balance will continue to earn interest.
  • Choice of Currency: This bank account can be opened in UAE Dirhams only.

RegulaReturns Fixed Deposit Account

  • Multiple Currencies: 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: This bank account offers the freedom to its account holder to choose between monthly, quarterly, and half-yearly interest payouts.

Steady Saver Deposit Account

  • Multiple Currencies: This fixed deposit account can be opened in multiple currencies such as AED, GBP, and USD.
  • High Interest Rate: This is a simple deposit account that offers a high rate of interest month on month. Following are the interest rate offered by the bank:
AED USD GBP
A maximum of 3 percent. A maximum of 2.79 percent. A maximum of 1.12 percent.

Wakala Deposits Account

  • Multiple Currencies: This Emirates NBD Fixed Deposit Account can be opened in multiple currencies including AED & USD.
  • Flexible Tenure Period: A wide range of tenor options available- one month, three months, six months, nine months, and twelve months.
  • Higher Profit Rates: The bank offers attractive profit rates depending on the tenure period and investments.

Mudaraba General Investments

  • Multiple Currencies: This account can be opened in multiple currencies including AED & USD.
  • Flexible Tenure Period: A wide range of tenor options available- one month, three months, six months, twelve months, and twenty-four months.
  • Premature Closure: Premature closures are permitted but the bank levies charges for offering this facility.
  • Auto-Renewal Facility: It gets automatically renewed on maturity or on special request.
  • Profit Rates Distribution: Profit rates generated out of the performance of the underlying assets and it is distributed every quarter.

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

To complete the Emirates NBD Fixed Deposit Account opening process, the applicant needs to meet the certain eligibility criteria as decided by the bank. Listed below are the eligibility requirements for opening a fixed deposit account with the bank:

Emirates NBD Fixed Deposit Accounts Eligibility Criteria
FlexiDeposits 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 Investments Minimum Deposit Amount Required:
  • AED 10,000
Availability:
  • Individuals & non-individuals.

*Note: An operative (Savings or Current Account) is mandatory before opening a fixed deposit account with the Emirates NBD.

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

Below mentioned are the required documents that need to be submitted by the applicant to open 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 sole discretion of the bank.

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

Fixed Deposits Accounts may be opened by residents & non-residents. An operative account (Savings or Current) is mandatory before opening a fixed deposit account with the bank. Existing account holders can open an Emirates NBD Fixed Deposit Account through any of the below-mentioned ways:

  • Online: An individual can open a fixed deposit account online by visiting the official website of the 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 a fixed deposit account with Emirates NBD through mobile.

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.

Emirates NBD Fixed Deposit Account - FAQs

Q.1. What exactly is a fixed deposit (FD) account?

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

Q.2. Can I open an Emirates NBD Fixed Deposit Account in multiple currencies?

Ans: Yes, you can open Emirates NBD Fixed Deposit Account in different currencies.

Q.3. What is the range of tenors 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: Unlimited frequency.

Q.5. What is the minimum deposit amount required for opening an Emirates NBD Fixed Deposit Account?

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

Q.6. 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 nearby branch of Emirates NBD.
  • Online Banking: You can also redeem your fixed deposits by logging in to your Online Banking and placing a request by selecting: My Finances> Accounts> Savings & Deposits, and then you need to select the fixed deposit which you would like to Redeem.

Q.7. What is the interest rate for a Fixed Deposit? Is the interest rate different for other currencies than UAE Dirham?

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

Q.8. Is premature withdrawal allowed with any of the Emirates NBD Fixed Deposit Accounts?

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