Bank Accounts in the UAE
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Emirates NBD is one of the leading banks in the MENAT region that started its operations in 2007 after the merger of two famous banks, namely the National Bank of Dubai and Emirates Bank International. Emirates NBD offers a wide range of banking services and products that aims at providing financial benefits to its customers.
Emirates NBD offers a number of conventional as well as Islamic fixed deposit accounts that come with the utmost flexibility and convenience of withdrawing deposits in times of financial emergency. The bank offers numerous fixed deposit accounts providing a higher return on investment. Emirates NBD’s fixed deposits focus on the benefits and high-end banking services to its customers. In addition, it provides an attractive interest rate on their deposits to maximise their savings. Moreover, the customers holding a fixed deposit account in Emirates NBD can avail a whole range of premium banking services.
Emirates NBD offers a wide range of banking products when it comes to Fixed Deposit schemes with a competitive interest rate. The key Fixed Deposits from Emirates NBD are mentioned below:
Emirates NBD is well known for its customer satisfaction and premium banking services. An account holder enjoys numerous features and benefits on the fixed deposits offered by Emirates NBD. Given below are some features and benefits of Emirates NBD Fixed Deposit accounts.
Emirates NBD FlexiDeposits Account is a type of fixed deposit that allows early as well as partial withdrawals while still gaining interest on the remaining balance. The minimum tenure of the deposit is three months and the account can be opened with a minimum deposit of AED 10,000.
Emirates NBD Fixed Deposit account offers you an attractive return on the funds to grow your savings. The fixed deposit can be opened with a minimal deposit of AED 10,000 or its equivalent in major foreign currencies. Following are the benefits offered in Emirates NBD Fixed Deposit Account.
FlexiSweep Deposit Account can be opened with a minimum balance of AED 1 and a minimum tenure of 3 months to earn profits. This fixed deposit account can be linked with multiple other deposit accounts, and funds can be transferred to those accounts in the time of shortfall.
Emirates NBD offers a unique facility of earning the interest monthly, quarterly or half-yearly with its RegulaReturn Fixed Deposit Account. The account can be opened in major international currencies with a minimum deposit of AED 10,000.
Emirates NBD Steady Saver Account offers a higher rate of interest on funds deposited for a longer period of time. The interest rate can go as high as 2.5% for the funds saved into this savings account.
|A maximum of 1.66 percent||A maximum of 0.72 percent||A maximum of 0.13 percent|
Emirates NBD Wakala Deposits is a sharia-compliant account that follows the principle of Islamic banking laws for profit payouts. The account is available to individuals and non-individuals and can be opened with a minimum deposit of AED 4 million or USD 1 million.
Emirates NBD offers a sharia-compliant investment solution. The Mudaraba General Investment is a profit-sharing partnership where the returns are dependent on the underlying profit generating assets.
To complete the Emirates NBD Fixed Deposit Account opening process, the applicant needs to meet 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:
|Fixed Deposit Account||Minimum Deposit Amount Required:
|FlexiSweep Deposit Account||Minimum Deposit Amount Required:
|RegulaReturns Fixed Deposit Account||Minimum Deposit Amount Required:
|Steady Saver Deposit Account||Minimum Deposit Amount Required:
|Wakala Deposits Account||Minimum Deposit Amount Required:
|Mudaraba General Investments||Minimum Deposit Amount Required:
*Note: An operative (Savings or Current Account) is mandatory before opening a fixed deposit account with the Emirates NBD.
Below mentioned are the required documents that need to be submitted by the applicant to open an Emirates NBD Fixed Deposit Account:
*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.
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:
For account closure, the account holder needs to 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.
Q1: What exactly 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 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 range of tenures for which I can open an Emirates NBD Fixed Deposit Account?
Ans: You can enjoy flexible terms starting from 7 days to 5 years.
Q4: What is the limit of withdrawals in FlexiSweep Deposit Account?
Ans: Unlimited 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:
Q7: 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 the tenure applicable.
Q8: 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.