Everything You Need to Know About a Fixed Deposit Receipt

People prefer fixed deposits as a financial instrument for investment purposes. A fixed deposit offers guaranteed returns in the form of higher interest rates in comparison to savings bank accounts and other financial investment options. 

With a fixed deposit, the investor has a choice to select their preferred maturity date and the payment method for scheduled instalments. Almost all the banks in the UAE offer fixed deposit facilities for their customers. Once you open a fixed deposit account with a bank, it provides you with an acknowledgement in the form of a fixed deposit receipt. Let us know about this receipt in detail.

What Is a Fixed Deposit Receipt and What Is It Used for?

A fixed deposit receipt is a document provided by a bank or a financial institution to the investors on opening a fixed deposit. The receipt has all the details of the fixed deposit. The fixed deposit holder can use this receipt on different occasions such as- 

1. At the Time of Fixed Deposit Renewal

If someone holds an offline fixed deposit, they may be asked to submit the fixed deposit receipt to get the FD renewed. The depositor gets a new fixed deposit receipt after the renewal.

2. For Premature Withdrawal

If the investor needs to withdraw funds before the fixed deposit maturity date, they need to show the fixed deposit receipt as proof of ownership for a hassle-free withdrawal. 

3. To Apply for a Loan Against Fixed Deposit

Investors can take a loan against a fixed deposit to meet their financial needs. These loans usually have lower interest rates in comparison to an unsecured personal loan. The borrowers need to surrender the fixed deposit receipt for the entire term of the loan. Once they repay the loan in full, they can get the fixed deposit receipt back with updated details.

What are the Elements of a Fixed Deposit Receipt?

A fixed deposit receipt contains various elements showing the details of the bank, the fixed deposit amount and the depositor. Here is the list of a few elements of a fixed deposit receipt.

1. Name, Age, and Address of the Investor

A fixed deposit receipt contains the full name of the investor along with their age and complete address. 

2. Bank Account Details of the Investor

A fixed deposit receipt contains the investor’s customer ID and bank account details provided at the time of opening the fixed deposit.

3. Rate of Interest, Fixed Deposit Tenure, and Maturity Details

A fixed deposit receipt also shows the rate of interest that the bank or the financial institution is offering the investor on the concerned fixed deposit. The receipt also includes the fixed deposit tenure and maturity date.

4. Deposit Amount and Value Date of the Fixed Deposit

The amount invested by the investor in the fixed deposit is called the deposit amount. The fixed deposit receipt contains all the information related to the amount deposited along with the start date of the fixed deposit. 

5. Interest Amount and Final Maturity Amount

The fixed deposit receipt also shows the amount of interest that the investor will receive. It also contains the amount that the investor will get at the time of fixed deposit maturity.

6. Type of Fixed Deposit

The bank and financial institutions in the UAE offer two types of fixed deposit accounts – cumulative and non-cumulative. The fixed deposit receipt shows the type of deposit that the investor has chosen.

7. Nominee and Nomination Details

The nominee receives the funds in the unfortunate event of the investor’s death. The fixed deposit receipt shows the name and other details of the nominee that the investor provided at the time of fixed deposit registration. 

8.Auto-Renewal Information 

All the banks have a different renewal process for fixed deposits. Some of them enable investors to activate the auto-renewal option for the policy renewal. The process for auto-renewal is mentioned on the fixed deposit receipt.

9. Auto-Closure Information

The fixed deposit receipt also contains the auto-closure details and instructions if the investor opts for auto-closure of the fixed deposit on maturity.

10. Penalty on Premature Withdrawals

In case the depositor wants to make a premature withdrawal, the details and instructions of the same are clearly mentioned on the fixed deposit receipt.


Now that you know the elements of a fixed deposit receipt, make sure you find them on the one that you get from your bank. If you are looking for the best fixed deposit to invest in, you can visit our website and go to the fixed deposit section to explore your options. 

You can also give us a call in case of any doubts. Our experts first analyse your financial preferences and then suggest you invest in a suitable fixed deposit accordingly. And not just that! They take you through the entire fixed deposit investment process to avoid any mistakes.

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