Enhanced Islamic Escalator Deposit (EIED) is structured under Islamic Wakala Investment Concept by which the Bank (Wakkil) acts as an Agent on behalf of the Customer (Muwakkil) to invest in the Investment Amount (Deposit Amount) and returns with expected profits according to the tenor of the investment.

Yes, any deposit amount booked under the Enhanced Islamic Escalator Deposit can be withdrawn at any time.

* Provided the outstanding amount should equal or be higher than the minimum amount required.

* Terminating the deposits before the Maturity Date is subject to a notice of at least two (2) UAE business days in writing.

* No return will be paid if the deposit is terminated within one month of investing. No reduction if deposit is cancelled on any Profit Payment Date after completing 12 months of deposit placement, otherwise indicative applicable reduction will be 1% on the Profit Rate applied. The minimum return cannot be lower than 0% after the reduction is applied.

Yes, you can cancel at any time subject to specified conditions, but reinvesting in the product would be subject to UAB offer at that time.