Yes, the full deposit amount booked under the Flexi-Fixed Deposit can be redeemed at any time. Redemption of the deposit before maturity is subject to a notice period of at least two (2) UAE business days in writing. Zero interest is paid if the deposit is cancelled during the first three months. After 3 months, the applicable interest rate is applied as per the graph. Only the full amount can be redeemed.
The full interest amount will be paid at the end of the deposit, at maturity, and in one payment. If the deposit is cancelled before maturity, the full interest amount will be paid at the time of cancellation.
A: Please follow the table. Match the number of months at the bottom of the graph with the number of months you remained in the deposit. Look up the interest rate corresponding with the number of months. This rate will be used to calculate your total interest for the full tenor of the deposit, from beginning until maturity (or until time of withdrawal as decided by the client).
Example:
If you complete 6 months and request to exit the Flexi-Fixed, the corresponding rate is4.40% per annum. Your deposit will be accrued at 4.40% for 6 months. If you complete 18 months (one and a half year), the corresponding rate will be3.65% per annum. Your deposit will be accrued at 3.65% for 18 months. If you complete the full 3 years (36 months), your deposit will be accrued at the rate of 3.50% per annum for the full 3 years.
This deposit has a maximum maturity of 3 years. All rates across the time buckets are defined in advance. The rate is selected according to the time of exit.
We offer Flexi-Fixed deposit only in AED and USD
Yes, commercial accounts can invest up to a maximum of AED 20 million or USD 10 million. We have no maximum limit for personal accounts.
