Emirates NBD Fixed Deposit Account

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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.

Fixed Deposit Accounts offered by Emirates NBD

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:

  • FlexiDeposits
  • Fixed Deposit
  • FlexiSweep Deposit
  • RegulaReturns Deposit
  • Steady Saver Deposit
  • Wakala Deposits
  • Mudaraba General Investments

Emirates NBD Fixed Deposit Account Features & Benefits

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.

FlexiDeposits Account

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.

  • Flexible Tenure: Emirates NBD offers the freedom to select the tenure of investment; however, the minimum tenure is three months.
  • Attractive Interest Rate: Emirates NBD FlexiDeposit Account offers a competitive rate of interest based on the tenure of investment and the amount of funds deposited.
  • Multiple Currencies accepted: This Emirates NBD fixed deposit account is available in all major currencies for its customers, including AED, USD, EUR and GBP.
  • Premature Withdrawal: The account holder has the facility to withdraw their funds partially or fully before the maturity date in times of financial emergency. Also, they can enjoy the unlimited withdrawal frequency. Partial withdrawals can be made in units of 1 AED & multiple thereon.

Fixed Deposit Account

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.

  • Flexible Tenure: The account holder has the option of flexible tenure starting from 7 days to 5 years on its fixed deposit in Emirates NBD.
  • High-Interest Rate: This Emirates NBD Fixed Deposit Account offers a high rate of interest on the deposited funds. The interest rates, however, depend on the tenure and the amount deposited.
  • Premature Withdrawal: The account holder is allowed to withdraw their funds before the maturity date.
  • Overdraft Facility: The overdraft facility is available with this 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 bank account can be opened in AED only.

FlexiSweep 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.

  • 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 1.
  • 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.
  • Currencies Accepted: This bank account can be opened in AED only.

RegulaReturns Fixed Deposit Account

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.

  • Multiple 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: This fixed deposit account offers the freedom to its account holders to choose between monthly, quarterly, and half-yearly interest payouts.

Steady Saver Deposit Account

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.

  • 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 rates offered by the bank:
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 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.

  • Multiple Currencies: This Emirates NBD Fixed Deposit Account can be opened in multiple currencies, including AED & USD.
  • Flexible Tenure Period: A wide range of tenure options are 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

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.

  • Multiple Currencies: This account is available in multiple currencies, including AED & USD.
  • Flexible Tenure Period: A wide range of tenure options are 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: The funds in Mudaraba General Investment get automatically renewed on maturity or on special request.
  • Profit Rates Distribution: Profit rates are generated out of the performance of the underlying assets, and it is distributed on a quarterly basis.

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 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
see more

*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 the 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 requirements 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 Emirates NBD’s official website.
  • 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 the mobile application.

How to Close an Emirates NBD Fixed Deposit Account?

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. 

Emirates NBD Fixed Deposit Account FAQs

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:

  • Bank Branch: You can redeem your fixed deposit by visiting the nearby Emirates NBD branch.
  • 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 selecting 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 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.