Emirates Islamic Bank is one such bank offering exclusive Islamic banking products in the UAE, with the Emirates Islamic Bank zero balance accounts being among the most preferred savings accounts in the UAE.
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.
Emirates NBD offers a variety of 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 benefits on the Emirates NBD fixed deposits. Given below are some Emirates NBD Fixed Deposit Accounts.
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.
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.
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.
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.
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.
|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 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.
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.
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:
|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 Investment||Minimum Deposit Amount Required:
*Note: An active savings or current account is mandatory for opening a fixed deposit account with Emirates NBD.
Below mentioned are the required documents that the applicant needs to submit for opening 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 are available for UAE residents & non-residents. Existing account holders can open an account through any of the below-mentioned ways:
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.
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:
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.