Date: 01 March 2023
Currency | AED |
Minimum Personal Account | 25,000 |
Minimum Commercial Account | 100,000 |
Minimum Tenor | One year with freedom to choose a maturity between one, two or three years |
Interest Rates, Coupon | Step-up, semi-annual coupon payments |
Early Redemption | Possible, with no penalty if cancelled on any interest payment date after one year. If cancelled within the first year, a 1% penalty on interest rate is applied. No interest if cancelled within 1 month of placement |
Fixed Interest Rate | Pays a fixed coupon (per annum) that increases with time |
Overdraft Facility Against Deposit | Available against the deposit under lien |
Maturity Price / Redemption Price | 100% of the initial deposit |
Validity | Offer is valid from 1st March to 31stMarch 2023 |
Indicative Fixed Rate Series
Interest Period | Interest Rates (per annum) |
1st semester | 4.50% |
2nd semester | 4.80% |
3rd semester | 4.50% |
4th semester | 4.50% |
5th semester | 4.20% |
6th semester | 4.20% |