NBF Fixed Deposit Account
NBF Bank offers a wide variety of options with a deposit account for the customers in the UAE. These options include the Fixed Deposit Account, the Dream Deposit Account and the Instant Interest Deposit Account.
With the Instant Interest Deposit Account, the Account holders can earn profits from day one. The NBF Fixed Deposit Account offers a competitive interest rate as well as flexible tenure.
Features & Benefits of NBF Fixed Deposit Account
The features and benefits of the NBF Fixed Deposit Account are given below:
|Type of Deposit Account||Features and Benefits|
|Instant Interest Deposit||
Eligibility Criteria to Open an NBF Fixed Deposit Account
To open a Fixed Deposit Account with the NBF Bank in the UAE, the applicant should qualify with the following terms:
- A minimum deposit of AED 500 is required to open Fixed Deposit Account
- A minimum deposit of AED 100,000 is required to open an Instant Interest Deposit
- The applicant should be an existing customer of the NBF Bank
Documents Required to Open an NBF Fixed Deposit Account in UAE
Following are the documents required to open a Fixed Deposit Account with the NBF Bank in the UAE:
- The Passport of the Applicant
- Emirates ID of the Applicant
- Resident Visa (for the expats)
- Filled and Signed Application form
How to Open an NBF Fixed Deposit Account in the UAE?
The applicant can apply through the following ways to open a Deposit Account in the UAE:
- visit the nearest branch of the NBF Bank
- Apply via Online
How to Close an NBF Fixed Deposit Account in the UAE?
To close the Deposit Account with the NBF Bank in the UAE, the customer should visit the nearest branch of the bank.
NBF Fixed Deposit Account - FAQs
Q.1 Is it true that I can earn instant interest with the Instant Interest Deposit Account?
Ans: Yes, it is true. In fact, you earn a profit from the first day.
Q.2 What is the penalty for premature withdrawal of the term deposit?
Ans: You will be penalized up to 2 % of the deposit for withdrawing the amount prematurely.
Q.3 What is the minimum amount to open an NBF Fixed Deposit Account in the UAE?
Ans: You will have to make a minimum deposit of AED 10,000 to open an NBF Fixed Deposit Account in the UAE.
Q.4 What is the current Prime Rate of the NBF bank?
Ans: The current prime rate of the NBF Bank in the UAE is 9.5%.
Q.5 What are the prices for the safe deposit lockers?
Ans: Following are the prices for the safe deposit lockers in the NBF Bank:
- Small- AED 400
- Medium- AED 800
- Large- AED 1500
- Safety Deposit Locker- AED 500
Q.6 Does NBF Bak apply taxes?
Ans: Yes, NBF Bank includes 5% of VAT wherever it is applicable.
Q.7 What is the contact number of the NBF Bank customer support team?
Ans: You can contact the customer team of the NBF Bank at 8008NBF(623).
Q.8 Will I be charged for supplementary Debit cards?
Ans: The first supplementary card is free. However, additional supplementary Debit cards will cost you AED 25 each.
Q.9 What is the minimum deposit required with the Dream deposit Account in the NBF Bank?
Ans: With the Dream Deposit Account in the UAE, you will need to make a minimum installment of AED 500.
Q.10 Is it necessary to have a Savings or Current Account to open a Fixed Deposit Account with the NBF Bank?
Ans: Yes. To open a Fixed Deposit Account with the NBF Bank, you should be an existing customer of the bank.
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