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Fixed deposit accounts are easy to open in UAE and require minimal documentation. You can typically open a fixed deposit account at a bank or financial institution either online or in-person. Read more

Instantly Get Your Bank Account Opened in Dubai, UAE

Deem Corporate Deposit

Deem Corporate Deposit

Deem Bank Accounts

MINIMUM DEPOSIT

AED 1000000.00

  • Dedicated Relationship Manager
  • Internet Banking
  • Corporate Deposit rates as high as 7% per annum
  • Flexible period from 1 to 120 months
  • Loans against deposit
  • Access your funds at a short notice
  • Personalized service through Relationship Managers

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

7.00 %

Minimum Balance

AED 0.00

Minimum Deposit

AED 1000000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Corporate Deposit rates as high as *7% per annum
  • Flexible deposit period from 1month to 120 months
  • Avail loan against the deposit on short notice period
  • Have a dedicated relationship manager.

*T&C apply

Reward/Deposit Features

  • Corporate Deposit rates as high as *7% per annum
  • Flexible deposit period from 1month to 120 months
  • Avail loan against the deposit on short notice period
  • Have a dedicated relationship manager.

*T&C apply

APPLY NOW
NATIONAL BANK OF BAHRAIN Time Deposit

NATIONAL BANK OF BAHRAIN Time Deposit

National Bank of Bahrain (NBB)

MINIMUM DEPOSIT

AED 250000.00

  • Best in market interest rates
  • Available in multiple currencies -AED, BHD, USD, GBP & EUR
  • Flexibility of term – 1, 2, 3, 6, 9 and 12 months

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 250000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Best in market interest rates
  • Available in multiple currencies -AED, BHD, USD, GBP & EUR
  • Flexibility of term – 1, 2, 3, 6, 9 and 12 months
  • These deposits are available for Corporates starting from a minimum of AED 1 Million or equivalent in USD and AED 250,000 or equivalent in USD

Reward/Deposit Features

Below are the deposit rates as of 1st May 2023

AED Deposit rates per annum

For AED 3 Million deposit value, 4.67% for corporate or individual customers
For AED 6 Million deposit value, 4.81% for corporate or individual customers
For AED 12 Million deposit value, 4.80% for corporate or individual customers

 

AED Deposit rates per annum

For USD 3 Million deposit value, 4.83% for corporate or individual customers
For USD 6 Million deposit value, 4.89% for corporate or individual customers
For USD 12 Million deposit value, 4.80% for corporate or individual customers

 

Corporate: Deposit value starting at AED1Million (eqv for USD)
Individual: Deposit value starting at AED250,000 (eqv for USD)

Above rates are as of 1st May 2023. These are subject to change and customers are requested to always refer to the bank for the final rates while opening the deposits. Soulwallet provides the rates as of a specific date on a best effort basis and these should always be verified with the bank prior to opening accounts.

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EMIRATES NBD Fixed Deposit account

EMIRATES NBD Fixed Deposit account

Emirates NBD Bank

MINIMUM DEPOSIT

AED 10000.00

  • Market-leading interest rates
  • Flexible terms-7 days to 5 years

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 10000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Market -leading interest rates, depending on the duration and currency of the deposit.
  • Flexible terms - 7 days to 5 years
  • An overdraft facility-access to funds in times of need
  • Scheduled withdrawals when you need them.
APPLY NOW
FAB Fixed Deposits

FAB Fixed Deposits

First Abu Dhabi Bank (FAB)

MINIMUM BALANCE

AED 5000.00

  • Flexible tenures from one week to 12 months
  • Attractive interest rates
  • Joint ownership allowed
  • Available in all major currencies
  • 4.25% on deposits above 5M AED for a tenor of 12 months

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 5000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • Flexible tenures from one week to 12 months
  • Attractive interest rates
  • Minimum deposit, AED 5000 or USD 1500 (or an equivalent amount in any other currency)
  • Available in all major currencies
  • Joint ownership allowed

Reward/Deposit Features

  • Flexible tenures from one week to 12 months
  • Attractive interest rates
  • Minimum deposit, AED 5000 or USD 1500 (or an equivalent amount in any other currency)
  • Available in all major currencies
  • Joint ownership allowed

THINGS TO BE AWARE OF

  • AED 100 fee for premature withdrawal or early breakage
APPLY NOW
ADCB Fixed Deposit Account

ADCB Fixed Deposit Account

Abu Dhabi Commercial Bank (ADCB)

MINIMUM BALANCE

AED 5000.00

  • Internet Banking
  • Mobile Banking App
  • Earn attractive interest rates of up to 4.20% per annum
  • Available in AED, USD, BP and other currencies
  • Flexible tenures in months: 1, 2, 3, 6, 9, 12, 13
  • Overdraft facility of up to 90% of fixed deposit
  • Simple documentation

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

4.20 %

Minimum Balance

AED 5000.00

Minimum Deposit

AED 5000.00

Monthly Min Balance Fee

AED 5000.00

Features

  • Open to UAE nationals, expatriates and non-residents
  • Available in UAE Dirhams, US Dollars, British Pounds and other currencies
  • Minimum deposit of AED 5,000 or its equivalent in respective currencies
  • Flexible tenures in months: 1, 2, 3, 6, 9, 12, 13 and days: 50, 75, 100, 150, 200, 375, 400, 500
  • Enjoy an attractive interest rate on ADCB Online Century Deposits
  • Overdraft facility of up to 90% of fixed deposit to meet any immediate needs
  • Simple documentation
  • Interest payment on premature withdrawal of fixed deposits will be charged at 1% p.a. less than the interest rate that is applicable for the actual tenor and will be payable for the actual number of days the fixed deposit was maintained, unless provided otherwise in any applicable supplemental terms and conditions of a specific fixed deposit product.

There are three products offered under Fixed deposits

ADCB Online Century Deposits: Earn attractive interest rates of up to 4.20% per annum on Fixed Deposits for a tenure of 400 days.
Onsbore IB Century Fixed Deposits: Earn attractive interest rates of up to 4.10% per annum on Fixed Deposits for a tenure of 400 days
Advantage Fixed Deposits: Earn attractive interest rates of 4.10% per annum on Advantage Fixed Deposits* for a tenor of 13 months

Interest rates varies for the above products.

Reward/Deposit Features

TouchPoints will be awarded if your deposit amount is AED 100,000 or more. The number of TouchPoints earned will vary according to the tenure of the deposit

Earn upto 300 touch points for a deposit  with a tenor of 12 months and above.

TouchPoints are not awarded for Advantage Fixed Deposit.

For all Fixed Term Deposit products except traditional term deposits (AED & other foreign currencies), calculation of the interest is done using the 'Actual/Actual' convention (explained below), which assumes the year basis to be 365 days for non-leap year(s) and 366 days for leap year(s).

Depending on day on which the deposit is booked ('Fixed Term Deposit Start Date') and period for which the deposit is booked ('Term'), the total number of days for which the Fixed Term Deposit is maintained with ADCB ('Deposit Period'), may span across non leap year(s) or leap year(s).

If the Deposit Period contains leap day(s) (i.e. 29th of February), then:
a. The number of days which fall in the leap year are divided by 366 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that period.
b. The remaining days, which fall in the non-leap year are divided by 365 and this ratio is then multiplied by the contracted interest rate and Fixed Term Deposit principal to calculate the interest for the remaining period.
c. The sum total of both these calculated interest amounts obtained at 3(a) +3(b) above, is the total interest paid on the Fixed Term Deposit.

APPLY NOW
Standard Chartered Saadiq Term account

Standard Chartered Saadiq Term account

Standard Chartered Bank (SCB)

MINIMUM DEPOSIT

AED 25000.00

  • Internet Banking
  • Mobile Banking App
  • Attractive profit
  • Flexible tenures

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 25000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Attractive profit
  • Flexible tenures
  • Low minimum deposit
  • Banking online or on the go
APPLY NOW
ADIB Short Term Investment Account

ADIB Short Term Investment Account

Abu Dhabi Islamic Bank (ADIB)

MINIMUM BALANCE

AED 10000.00

  • Foreign currency remittances in USD and GBP
  • No additional charge for AED 0.00 balance

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.67 %

Minimum Balance

AED 10000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • A higher profit rate is expected for ADIB Short Term Investment Account holders (compared to a regular Savings Account).
  • Profits are calculated daily and credited to your account on a monthly basis.
  • Please note that you need to maintain a minimum daily balance of AED 10,000 to be eligible to earn profit.
  • Foreign currency remittances in USD and GBP.
  • No additional charge for AED 0.00 balance
  • Standing Instructions help manage your time by automatically making payments for regular transactions (such as bill payments, transfers, donations or installments) on your chosen dates.
APPLY NOW
ADIB Investment Deposit account

ADIB Investment Deposit account

Abu Dhabi Islamic Bank (ADIB)

MINIMUM BALANCE

AED 10000.00

  • Debit Card
  • A higher profit rate is expected
  • A complementary ADIB Visa Cashback Card is offered

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.99 %

Minimum Balance

AED 10000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • A higher profit rate is expected for ADIB Recurring Investment Account holders (compared to a regular Savings Account). Upon completion of the investment period, the amount is reinvested and you can choose to either transfer the distributed profit to an account specified by you or add up the distributed profits and the actual amount and invest it again. You can choose to invest with us and claim profits every one, three, six, nine or twelve months. You can avail of any ADIB financing option equivalent to the amount you have invested with us. A complementary ADIB Visa Cashback Card (read more) is also offered to ADIB Investment Account holders.
APPLY NOW
Al Masraf Fixed Deposit account

Al Masraf Fixed Deposit account

Al Masraf Bank

MINIMUM BALANCE

AED 3000.00

  • Available in AED , USD, EUR & GBP
  • Overdraft facility of upto 90% of fixed deposit amount

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 3000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • Available in AED , USD, EUR & GBP
  • Enjoy attractive interest rate , interest paid on quartelry basis
  • Convenience of standing order services 
  • Overdraft facility of upto 90% of fixed deposit amount
  • Free online banking channels
  • Early withdrawals permitted.
APPLY NOW

What is a Fixed/Time Deposit?

A fixed deposit, also known as a time deposit or certificate of deposit (CD), is a type of savings account offered by banks and other financial institutions that typically requires you to deposit a fixed amount of money for a set period, ranging from a few months to several years. During this time, you cannot withdraw your money without incurring a penalty.

In exchange for locking your money up for a specified period, time deposits generally offer higher interest rates than traditional savings accounts. The longer the term and the larger the deposit, the higher the interest rate typically offered.

How is the interest rate calculated on Time deposits / Fixed deposits?

1.For all Fixed Term Deposit products except traditional term deposits (AED & other foreign currencies), calculation of the interest is done using the 'Actual/Actual' convention (explained below), which assumes the year basis to be 365 days for non-leap year(s) and 366 days for leap year(s).

2.Depending on day on which the deposit is booked ('Fixed Term Deposit Start Date') and period for which the deposit is booked ('Term'), the total number of days for which the Fixed Term Deposit is maintained with the bank ('Deposit Period'), may span across non leap year(s) or leap year(s).

3. If the Deposit Period contains leap day(s) (i.e., 29th of February), then:

  1. The number of days which fall in the leap year are divided by 366 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that period.
  2. The remaining days, which fall in the non-leap year are divided by 365 and this ratio is then multiplied by the contracted interest rate and Fixed Term Deposit principal to calculate the interest for the remaining period.
  3. The total of both these calculated interest amounts obtained at 3(a) +3(b) above, is the total interest paid on the Fixed Term Deposit.

What are the advantages of fixed deposits?

Fixed deposits, also known as term deposits, offer several advantages:

  • Guaranteed Returns: Best fixed deposit rates in UAE offer a fixed rate of return for the term of the deposit. This means that you are guaranteed to earn a certain amount of interest on your deposit, regardless of changes in market conditions.
  • Low Risk: Fixed deposits in UAE are considered a low-risk investment because your principal is protected and guaranteed by the bank or financial institution. This makes them an attractive option for investors who are risk averse.
  • Flexible Tenure: Best FD rates in UAE are available for a wide range of tenures, ranging from a few months to several years, which allows you to choose a tenure that suits your needs.
  • Higher Interest Rates: Fixed deposit rates in UAE generally offer higher interest rates than regular savings accounts, especially for longer tenures or larger deposits. This can help you earn more interest in your savings.
  • Easy to Open: Fixed deposits are easy to open and require minimal documentation. You can typically open a fixed deposit account at a bank or financial institution either online or in-person.
  • Liquidity: While fixed deposits are generally considered to be a long-term investment, they can also provide liquidity in case of an emergency. Most banks allow you to prematurely withdraw your deposit, although you may be subject to a penalty for doing so.

Overall, fixed deposits offer a low-risk, guaranteed return option for investors looking to earn higher  Fixed deposit rates in UAE on their savings.

Below are some popular fixed deposits in the UAE

Bank Name

Account Name

More Info

EMIRATES NBD BANK

EMIRATES NBD Fixed Deposit Account

Emirates NBD offers fixed deposits with flexible tenures ranging from 1 month to 5 years, with competitive interest rates.

FIRST ABU DHABI BANK (FAB)

FIRST ABU DHABI BANK (FAB) FAB Fixed Deposits

FAB offers fixed deposits with flexible tenures ranging from 1 month to 5 years, with competitive interest rates.

ABU DHABI COMMERCIAL BANK (ADCB)

ADCB Fixed Deposit Account

ADCB offers fixed deposits with flexible tenures ranging from 1 month to 5 years, with attractive interest rates and the option of partial withdrawal.

ABU DHABI ISLAMIC BANK (ADIB)

ADIB Short Term Investment Account

ADIB offers Shari’a-compliant fixed deposits with flexible tenures ranging from 1 month to 5 years, with competitive profit rates.

ABU DHABI ISLAMIC BANK (ADIB)

ADIB Investment Deposit Account

Dubai Islamic Bank

Dubai Islamic Bank offers Shari’a-compliant fixed deposits with flexible tenures and competitive profit rates.

Mashreq Bank

Mashreq Bank offers fixed deposits with tenures ranging from 1 month to 5 years, with attractive interest rates and the option of partial withdrawal.

It is important to compare the interest rates, tenures, and other features of different fixed deposit options before choosing one that suits your needs. Additionally, it's always a good idea to consult with a financial advisor to ensure you make the best decision for your financial situation.

Important Things to Consider While Opening a Fixed Deposit

When opening a fixed deposit account, here are some important things to consider:

  • Interest Rates: Fixed deposit rates in UAE offered by the bank or financial institution is an important factor to consider. Compare the interest rates offered by different banks to find the best one for your needs.
  • Tenure: The tenure of the fixed deposit account is another important factor to consider. Decide on a tenure that suits your financial goals and needs. Keep in mind that the longer the tenure, the higher the interest rate is usually offered.
  • Minimum Deposit: Banks have a minimum deposit requirement for opening a fixed deposit account. Make sure that you have the required minimum amount before opening the account.
  • Premature Withdrawal: Check the terms and conditions of the fixed deposit account regarding premature withdrawal. Some banks may allow you to withdraw the money before the maturity date, but with a penalty or lower interest rate.
  • Automatic Renewal: Some banks may automatically renew your fixed deposit account at maturity unless you give them instructions to do otherwise. Make sure to clarify this with the bank before opening the account.
  • Fees and Charges: Check for any fees and charges associated with opening and maintaining the fixed deposit account, such as account opening fees, early withdrawal fees, or account closure fees.

By considering these factors, you can choose a fixed deposit account that aligns with your financial goals and offers the best returns. It's also important to compare different options and consult with a financial advisor to make an informed decision.

Eligibility Criteria for Opening a Fixed Deposit Account in the UAE

The eligibility criteria for opening a fixed deposit account in the UAE may vary slightly depending on the bank or financial institution. However, here are some general requirements that are commonly needed:

  • Age: You must be at least 18 years old to open a fixed deposit account in the UAE.
  • Nationality: Most banks in the UAE allow both UAE nationals and expatriates to open fixed deposit accounts.
  • Residency: You may need to be a UAE resident with a valid residence visa or work permit to open a fixed deposit account.
  • Minimum Deposit: Each bank has its own minimum deposit requirement, which varies depending on the tenure and fixed deposit rates in UAE. Generally, the minimum deposit requirement for a fixed deposit account in the UAE ranges from AED 1,000 to AED 100,000.
  • Source of Funds: You may need to provide proof of the source of funds, such as salary certificates, bank statements, or employment contracts.
  • Identification: You will need to provide valid identification documents, such as a passport, Emirates ID, or driver's license.
  • Other Requirements: Some banks may have additional requirements, such as proof of address, reference letters, or a minimum credit score.

It's important to check with the bank or financial institution for specific eligibility requirements before opening a fixed deposit account. Additionally, it's a good idea to compare different options and consult with a financial advisor to ensure that you make an informed decision that aligns with your financial goals.

Documents required for opening Fixed Deposit Accounts in the UAE

The documents required for opening afixed deposit rate account in the UAE may vary depending on the bank or financial institution. However, here are some commonly required documents:

  • Valid Identification: You will need to provide a valid identification document, such as a passport, Emirates ID, or driver's license.
  • Visa and Emirates ID: If you are a non-UAE national, you will need to provide your valid residence visa and Emirates ID.
  • Proof of Address: You may need to provide proof of your address, such as a utility bill or rental agreement.
  • Source of Funds: You may need to provide proof of the source of funds used to open the fixed deposit account, such as salary certificates, bank statements, or employment contracts.
  • Account Application Form: You will need to fill out an application form provided by the bank or financial institution, which will include your personal information and account details.

It's important to check which bank is best for fixed deposit in UAE before opening a fixed deposit account. Additionally, it's a good idea to compare different fixed deposit rates in UAE and consult with a financial advisor to ensure that you make an informed decision that aligns with your financial goals.

Important terms

  • Fixed Deposit: A financial product offered by banks that allows customers to invest a fixed sum of money for a specified period of time at a fixed interest rate.
  • Tenure: The period for which the fixed deposit is held, usually ranging from 1 month to 10 years.
  • Interest Rate: The rate at which the fixed deposit earns interest, usually quoted on an annual basis.
  • Minimum Deposit: The minimum amount of money required to open a fixed deposit account.
  • Early Withdrawal Penalty: The penalty charged by the bank for withdrawing the fixed deposit before the maturity date.
  • Renewal: The process of extending the tenure of the fixed deposit upon maturity.
  • Auto-renewal: The option to automatically renew the fixed deposit upon maturity, unless the customer requests otherwise.
  • Compounding: The process of adding interest earned to the principal amount, so that interest is earned on the new total.
  • Deposit Insurance: A type of insurance that protects depositors against the loss of their deposits in the event of bank failure.
  • Maturity Date: The date on which the fixed deposit reaches the end of its tenure and the principal plus interest is paid out to the customer.

The accuracy, completeness and timeliness of information set out or included above is not guaranteed by Soulwallet Portal LLC. Any information set out or included above is subject to amendment, variation and change from time to time. Customers are advised to refer to the bank for the rates at any point of time.


EMIRATES NBD Fixed Deposit account

EMIRATES NBD Fixed Deposit account

Emirates NBD Bank

MINIMUM DEPOSIT

AED 10000.00

  • Market-leading interest rates
  • Flexible terms-7 days to 5 years

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 10000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Market -leading interest rates, depending on the duration and currency of the deposit.
  • Flexible terms - 7 days to 5 years
  • An overdraft facility-access to funds in times of need
  • Scheduled withdrawals when you need them.
APPLY NOW
ADIB Investment Deposit account

ADIB Investment Deposit account

Abu Dhabi Islamic Bank (ADIB)

MINIMUM BALANCE

AED 10000.00

  • Debit Card
  • A higher profit rate is expected
  • A complementary ADIB Visa Cashback Card is offered

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.99 %

Minimum Balance

AED 10000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • A higher profit rate is expected for ADIB Recurring Investment Account holders (compared to a regular Savings Account). Upon completion of the investment period, the amount is reinvested and you can choose to either transfer the distributed profit to an account specified by you or add up the distributed profits and the actual amount and invest it again. You can choose to invest with us and claim profits every one, three, six, nine or twelve months. You can avail of any ADIB financing option equivalent to the amount you have invested with us. A complementary ADIB Visa Cashback Card (read more) is also offered to ADIB Investment Account holders.
APPLY NOW
ADIB Short Term Investment Account

ADIB Short Term Investment Account

Abu Dhabi Islamic Bank (ADIB)

MINIMUM BALANCE

AED 10000.00

  • Foreign currency remittances in USD and GBP
  • No additional charge for AED 0.00 balance

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.67 %

Minimum Balance

AED 10000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • A higher profit rate is expected for ADIB Short Term Investment Account holders (compared to a regular Savings Account).
  • Profits are calculated daily and credited to your account on a monthly basis.
  • Please note that you need to maintain a minimum daily balance of AED 10,000 to be eligible to earn profit.
  • Foreign currency remittances in USD and GBP.
  • No additional charge for AED 0.00 balance
  • Standing Instructions help manage your time by automatically making payments for regular transactions (such as bill payments, transfers, donations or installments) on your chosen dates.
APPLY NOW
Standard Chartered Saadiq Term account

Standard Chartered Saadiq Term account

Standard Chartered Bank (SCB)

MINIMUM DEPOSIT

AED 25000.00

  • Internet Banking
  • Mobile Banking App
  • Attractive profit
  • Flexible tenures

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 25000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Attractive profit
  • Flexible tenures
  • Low minimum deposit
  • Banking online or on the go
APPLY NOW
Al Masraf Fixed Deposit account

Al Masraf Fixed Deposit account

Al Masraf Bank

MINIMUM BALANCE

AED 3000.00

  • Available in AED , USD, EUR & GBP
  • Overdraft facility of upto 90% of fixed deposit amount

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 3000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • Available in AED , USD, EUR & GBP
  • Enjoy attractive interest rate , interest paid on quartelry basis
  • Convenience of standing order services 
  • Overdraft facility of upto 90% of fixed deposit amount
  • Free online banking channels
  • Early withdrawals permitted.
APPLY NOW
FAB Fixed Deposits

FAB Fixed Deposits

First Abu Dhabi Bank (FAB)

MINIMUM BALANCE

AED 5000.00

  • Flexible tenures from one week to 12 months
  • Attractive interest rates
  • Joint ownership allowed
  • Available in all major currencies
  • 4.25% on deposits above 5M AED for a tenor of 12 months

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 5000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

  • Flexible tenures from one week to 12 months
  • Attractive interest rates
  • Minimum deposit, AED 5000 or USD 1500 (or an equivalent amount in any other currency)
  • Available in all major currencies
  • Joint ownership allowed

Reward/Deposit Features

  • Flexible tenures from one week to 12 months
  • Attractive interest rates
  • Minimum deposit, AED 5000 or USD 1500 (or an equivalent amount in any other currency)
  • Available in all major currencies
  • Joint ownership allowed

THINGS TO BE AWARE OF

  • AED 100 fee for premature withdrawal or early breakage
APPLY NOW
ADCB Fixed Deposit Account

ADCB Fixed Deposit Account

Abu Dhabi Commercial Bank (ADCB)

MINIMUM BALANCE

AED 5000.00

  • Internet Banking
  • Mobile Banking App
  • Earn attractive interest rates of up to 4.20% per annum
  • Available in AED, USD, BP and other currencies
  • Flexible tenures in months: 1, 2, 3, 6, 9, 12, 13
  • Overdraft facility of up to 90% of fixed deposit
  • Simple documentation

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

4.20 %

Minimum Balance

AED 5000.00

Minimum Deposit

AED 5000.00

Monthly Min Balance Fee

AED 5000.00

Features

  • Open to UAE nationals, expatriates and non-residents
  • Available in UAE Dirhams, US Dollars, British Pounds and other currencies
  • Minimum deposit of AED 5,000 or its equivalent in respective currencies
  • Flexible tenures in months: 1, 2, 3, 6, 9, 12, 13 and days: 50, 75, 100, 150, 200, 375, 400, 500
  • Enjoy an attractive interest rate on ADCB Online Century Deposits
  • Overdraft facility of up to 90% of fixed deposit to meet any immediate needs
  • Simple documentation
  • Interest payment on premature withdrawal of fixed deposits will be charged at 1% p.a. less than the interest rate that is applicable for the actual tenor and will be payable for the actual number of days the fixed deposit was maintained, unless provided otherwise in any applicable supplemental terms and conditions of a specific fixed deposit product.

There are three products offered under Fixed deposits

ADCB Online Century Deposits: Earn attractive interest rates of up to 4.20% per annum on Fixed Deposits for a tenure of 400 days.
Onsbore IB Century Fixed Deposits: Earn attractive interest rates of up to 4.10% per annum on Fixed Deposits for a tenure of 400 days
Advantage Fixed Deposits: Earn attractive interest rates of 4.10% per annum on Advantage Fixed Deposits* for a tenor of 13 months

Interest rates varies for the above products.

Reward/Deposit Features

TouchPoints will be awarded if your deposit amount is AED 100,000 or more. The number of TouchPoints earned will vary according to the tenure of the deposit

Earn upto 300 touch points for a deposit  with a tenor of 12 months and above.

TouchPoints are not awarded for Advantage Fixed Deposit.

For all Fixed Term Deposit products except traditional term deposits (AED & other foreign currencies), calculation of the interest is done using the 'Actual/Actual' convention (explained below), which assumes the year basis to be 365 days for non-leap year(s) and 366 days for leap year(s).

Depending on day on which the deposit is booked ('Fixed Term Deposit Start Date') and period for which the deposit is booked ('Term'), the total number of days for which the Fixed Term Deposit is maintained with ADCB ('Deposit Period'), may span across non leap year(s) or leap year(s).

If the Deposit Period contains leap day(s) (i.e. 29th of February), then:
a. The number of days which fall in the leap year are divided by 366 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that period.
b. The remaining days, which fall in the non-leap year are divided by 365 and this ratio is then multiplied by the contracted interest rate and Fixed Term Deposit principal to calculate the interest for the remaining period.
c. The sum total of both these calculated interest amounts obtained at 3(a) +3(b) above, is the total interest paid on the Fixed Term Deposit.

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NATIONAL BANK OF BAHRAIN Time Deposit

NATIONAL BANK OF BAHRAIN Time Deposit

National Bank of Bahrain (NBB)

MINIMUM DEPOSIT

AED 250000.00

  • Best in market interest rates
  • Available in multiple currencies -AED, BHD, USD, GBP & EUR
  • Flexibility of term – 1, 2, 3, 6, 9 and 12 months

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

Nil

Minimum Balance

AED 0.00

Minimum Deposit

AED 250000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Best in market interest rates
  • Available in multiple currencies -AED, BHD, USD, GBP & EUR
  • Flexibility of term – 1, 2, 3, 6, 9 and 12 months
  • These deposits are available for Corporates starting from a minimum of AED 1 Million or equivalent in USD and AED 250,000 or equivalent in USD

Reward/Deposit Features

Below are the deposit rates as of 1st May 2023

AED Deposit rates per annum

For AED 3 Million deposit value, 4.67% for corporate or individual customers
For AED 6 Million deposit value, 4.81% for corporate or individual customers
For AED 12 Million deposit value, 4.80% for corporate or individual customers

 

AED Deposit rates per annum

For USD 3 Million deposit value, 4.83% for corporate or individual customers
For USD 6 Million deposit value, 4.89% for corporate or individual customers
For USD 12 Million deposit value, 4.80% for corporate or individual customers

 

Corporate: Deposit value starting at AED1Million (eqv for USD)
Individual: Deposit value starting at AED250,000 (eqv for USD)

Above rates are as of 1st May 2023. These are subject to change and customers are requested to always refer to the bank for the final rates while opening the deposits. Soulwallet provides the rates as of a specific date on a best effort basis and these should always be verified with the bank prior to opening accounts.

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Deem Corporate Deposit

Deem Corporate Deposit

Deem Bank Accounts

MINIMUM DEPOSIT

AED 1000000.00

  • Dedicated Relationship Manager
  • Internet Banking
  • Corporate Deposit rates as high as 7% per annum
  • Flexible period from 1 to 120 months
  • Loans against deposit
  • Access your funds at a short notice
  • Personalized service through Relationship Managers

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

7.00 %

Minimum Balance

AED 0.00

Minimum Deposit

AED 1000000.00

Monthly Min Balance Fee

AED 0.00

Features

  • Corporate Deposit rates as high as *7% per annum
  • Flexible deposit period from 1month to 120 months
  • Avail loan against the deposit on short notice period
  • Have a dedicated relationship manager.

*T&C apply

Reward/Deposit Features

  • Corporate Deposit rates as high as *7% per annum
  • Flexible deposit period from 1month to 120 months
  • Avail loan against the deposit on short notice period
  • Have a dedicated relationship manager.

*T&C apply

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Bank Account Types

Best Fixed / Time Deposits Accounts by Features

Best Fixed / Time Deposits Accounts By Banks

What is a Fixed/Time Deposit?

A fixed deposit, also known as a time deposit or certificate of deposit (CD), is a type of savings account offered by banks and other financial institutions that typically requires you to deposit a fixed amount of money for a set period, ranging from a few months to several years. During this time, you cannot withdraw your money without incurring a penalty.

In exchange for locking your money up for a specified period, time deposits generally offer higher interest rates than traditional savings accounts. The longer the term and the larger the deposit, the higher the interest rate typically offered.

How is the interest rate calculated on Time deposits / Fixed deposits?

1.For all Fixed Term Deposit products except traditional term deposits (AED & other foreign currencies), calculation of the interest is done using the 'Actual/Actual' convention (explained below), which assumes the year basis to be 365 days for non-leap year(s) and 366 days for leap year(s).

2.Depending on day on which the deposit is booked ('Fixed Term Deposit Start Date') and period for which the deposit is booked ('Term'), the total number of days for which the Fixed Term Deposit is maintained with the bank ('Deposit Period'), may span across non leap year(s) or leap year(s).

3. If the Deposit Period contains leap day(s) (i.e., 29th of February), then:

  1. The number of days which fall in the leap year are divided by 366 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that period.
  2. The remaining days, which fall in the non-leap year are divided by 365 and this ratio is then multiplied by the contracted interest rate and Fixed Term Deposit principal to calculate the interest for the remaining period.
  3. The total of both these calculated interest amounts obtained at 3(a) +3(b) above, is the total interest paid on the Fixed Term Deposit.

What are the advantages of fixed deposits?

Fixed deposits, also known as term deposits, offer several advantages:

  • Guaranteed Returns: Best fixed deposit rates in UAE offer a fixed rate of return for the term of the deposit. This means that you are guaranteed to earn a certain amount of interest on your deposit, regardless of changes in market conditions.
  • Low Risk: Fixed deposits in UAE are considered a low-risk investment because your principal is protected and guaranteed by the bank or financial institution. This makes them an attractive option for investors who are risk averse.
  • Flexible Tenure: Best FD rates in UAE are available for a wide range of tenures, ranging from a few months to several years, which allows you to choose a tenure that suits your needs.
  • Higher Interest Rates: Fixed deposit rates in UAE generally offer higher interest rates than regular savings accounts, especially for longer tenures or larger deposits. This can help you earn more interest in your savings.
  • Easy to Open: Fixed deposits are easy to open and require minimal documentation. You can typically open a fixed deposit account at a bank or financial institution either online or in-person.
  • Liquidity: While fixed deposits are generally considered to be a long-term investment, they can also provide liquidity in case of an emergency. Most banks allow you to prematurely withdraw your deposit, although you may be subject to a penalty for doing so.

Overall, fixed deposits offer a low-risk, guaranteed return option for investors looking to earn higher  Fixed deposit rates in UAE on their savings.

Below are some popular fixed deposits in the UAE

Bank Name

Account Name

More Info

EMIRATES NBD BANK

EMIRATES NBD Fixed Deposit Account

Emirates NBD offers fixed deposits with flexible tenures ranging from 1 month to 5 years, with competitive interest rates.

FIRST ABU DHABI BANK (FAB)

FIRST ABU DHABI BANK (FAB) FAB Fixed Deposits

FAB offers fixed deposits with flexible tenures ranging from 1 month to 5 years, with competitive interest rates.

ABU DHABI COMMERCIAL BANK (ADCB)

ADCB Fixed Deposit Account

ADCB offers fixed deposits with flexible tenures ranging from 1 month to 5 years, with attractive interest rates and the option of partial withdrawal.

ABU DHABI ISLAMIC BANK (ADIB)

ADIB Short Term Investment Account

ADIB offers Shari’a-compliant fixed deposits with flexible tenures ranging from 1 month to 5 years, with competitive profit rates.

ABU DHABI ISLAMIC BANK (ADIB)

ADIB Investment Deposit Account

Dubai Islamic Bank

Dubai Islamic Bank offers Shari’a-compliant fixed deposits with flexible tenures and competitive profit rates.

Mashreq Bank

Mashreq Bank offers fixed deposits with tenures ranging from 1 month to 5 years, with attractive interest rates and the option of partial withdrawal.

It is important to compare the interest rates, tenures, and other features of different fixed deposit options before choosing one that suits your needs. Additionally, it's always a good idea to consult with a financial advisor to ensure you make the best decision for your financial situation.

Important Things to Consider While Opening a Fixed Deposit

When opening a fixed deposit account, here are some important things to consider:

  • Interest Rates: Fixed deposit rates in UAE offered by the bank or financial institution is an important factor to consider. Compare the interest rates offered by different banks to find the best one for your needs.
  • Tenure: The tenure of the fixed deposit account is another important factor to consider. Decide on a tenure that suits your financial goals and needs. Keep in mind that the longer the tenure, the higher the interest rate is usually offered.
  • Minimum Deposit: Banks have a minimum deposit requirement for opening a fixed deposit account. Make sure that you have the required minimum amount before opening the account.
  • Premature Withdrawal: Check the terms and conditions of the fixed deposit account regarding premature withdrawal. Some banks may allow you to withdraw the money before the maturity date, but with a penalty or lower interest rate.
  • Automatic Renewal: Some banks may automatically renew your fixed deposit account at maturity unless you give them instructions to do otherwise. Make sure to clarify this with the bank before opening the account.
  • Fees and Charges: Check for any fees and charges associated with opening and maintaining the fixed deposit account, such as account opening fees, early withdrawal fees, or account closure fees.

By considering these factors, you can choose a fixed deposit account that aligns with your financial goals and offers the best returns. It's also important to compare different options and consult with a financial advisor to make an informed decision.

Eligibility Criteria for Opening a Fixed Deposit Account in the UAE

The eligibility criteria for opening a fixed deposit account in the UAE may vary slightly depending on the bank or financial institution. However, here are some general requirements that are commonly needed:

  • Age: You must be at least 18 years old to open a fixed deposit account in the UAE.
  • Nationality: Most banks in the UAE allow both UAE nationals and expatriates to open fixed deposit accounts.
  • Residency: You may need to be a UAE resident with a valid residence visa or work permit to open a fixed deposit account.
  • Minimum Deposit: Each bank has its own minimum deposit requirement, which varies depending on the tenure and fixed deposit rates in UAE. Generally, the minimum deposit requirement for a fixed deposit account in the UAE ranges from AED 1,000 to AED 100,000.
  • Source of Funds: You may need to provide proof of the source of funds, such as salary certificates, bank statements, or employment contracts.
  • Identification: You will need to provide valid identification documents, such as a passport, Emirates ID, or driver's license.
  • Other Requirements: Some banks may have additional requirements, such as proof of address, reference letters, or a minimum credit score.

It's important to check with the bank or financial institution for specific eligibility requirements before opening a fixed deposit account. Additionally, it's a good idea to compare different options and consult with a financial advisor to ensure that you make an informed decision that aligns with your financial goals.

Documents required for opening Fixed Deposit Accounts in the UAE

The documents required for opening afixed deposit rate account in the UAE may vary depending on the bank or financial institution. However, here are some commonly required documents:

  • Valid Identification: You will need to provide a valid identification document, such as a passport, Emirates ID, or driver's license.
  • Visa and Emirates ID: If you are a non-UAE national, you will need to provide your valid residence visa and Emirates ID.
  • Proof of Address: You may need to provide proof of your address, such as a utility bill or rental agreement.
  • Source of Funds: You may need to provide proof of the source of funds used to open the fixed deposit account, such as salary certificates, bank statements, or employment contracts.
  • Account Application Form: You will need to fill out an application form provided by the bank or financial institution, which will include your personal information and account details.

It's important to check which bank is best for fixed deposit in UAE before opening a fixed deposit account. Additionally, it's a good idea to compare different fixed deposit rates in UAE and consult with a financial advisor to ensure that you make an informed decision that aligns with your financial goals.

Important terms

  • Fixed Deposit: A financial product offered by banks that allows customers to invest a fixed sum of money for a specified period of time at a fixed interest rate.
  • Tenure: The period for which the fixed deposit is held, usually ranging from 1 month to 10 years.
  • Interest Rate: The rate at which the fixed deposit earns interest, usually quoted on an annual basis.
  • Minimum Deposit: The minimum amount of money required to open a fixed deposit account.
  • Early Withdrawal Penalty: The penalty charged by the bank for withdrawing the fixed deposit before the maturity date.
  • Renewal: The process of extending the tenure of the fixed deposit upon maturity.
  • Auto-renewal: The option to automatically renew the fixed deposit upon maturity, unless the customer requests otherwise.
  • Compounding: The process of adding interest earned to the principal amount, so that interest is earned on the new total.
  • Deposit Insurance: A type of insurance that protects depositors against the loss of their deposits in the event of bank failure.
  • Maturity Date: The date on which the fixed deposit reaches the end of its tenure and the principal plus interest is paid out to the customer.

The accuracy, completeness and timeliness of information set out or included above is not guaranteed by Soulwallet Portal LLC. Any information set out or included above is subject to amendment, variation and change from time to time. Customers are advised to refer to the bank for the rates at any point of time.


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