PCA is similar to a Call account but offers superior interest rates linked to the withdrawal notice period, unlike a normal call account where the interest is paid at the same rate. This account encourages account holders to enjoy the liquidity as well as to earn higher interest rate.

The fixed base interest rate is paid on the lowest balance in the account during a full calendar month. The base interest is paid at the end of each calendar month. No interest will accrue or be paid on PCA during the first month of joining if the first 30 full days are not completed.

There is no restriction on the number and amount of withdrawals from this account. Customers can withdraw any amount at anytime. Customers will continue to receive the base interest rate at the applicable rate for the lowest balance in the account during the month. However, note that in order to enjoy the PCA benefits on any given calendar month, customers must abide by the minimum balance.

You will get the base fixed interest rate (i.e. 1.25% p.a. on AED and 1.00% p.a. on USD) based on minimum balance observed during the 30 days; but no additional premium will be paid on the withdrawal amount. The same will apply if the notice period is lower than 8 days.

For example: on your PCA you serve 32 days notice for a AED 1,000,000 withdrawal. - We will pay you 32 days of interest on AED 1,000,000 at a rate of 1.75% p.a. ‘1.75% p.a.’ corresponds to the base rate (1.25%) plus the additional premium (0.50%) as per the table on the previous page. At the end of the notice, the withdrawal amount and interest accrued on the withdrawal will be credited to your current account with United Arab Bank. - At the end of the calendar month, you will also receive 1.25% p.a. on the lowest balance recorded on the same month (this depends on the account activity in that specific period).

For that specific calendar month, the account will serve no base interest and no premium interest. For the account to be treated as a PCA, the balance must remain above the specified minimum at all times.

No, you cannot convert any Call or Current Account into a PCA. A new account has to be opened with new to bank funds. For the bank’s existing customers, only a signed form will be required.

You can only open one PCA under the same name. However, you can open a separate joint PCA with another person, in case of an individual client.