Fixed Deposits

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

Eligibility

• Applicant must hold a current, saving or call account with FAB
• Applicable for UAE residents and non-residents
• Salaried and non-salaried
• Minors are eligible, but deposit account must be opened and operated on the instruction of the minor’s father or court appointed guardian

Required documents

• Completed Fixed Deposit application form
• Copy of a valid passport/resident visa/Emirates ID (originals must also be presented)

Note: Additional documents may be required on a case-by-case basis

Fees and charges

• AED 100 fee for premature withdrawal or early breakage of fixed deposit

Conditions

• Customer should have an existing account for funding the Fixed Deposit. The Fixed Deposit will be opened in the same currency of the account and the proceeds will be credited to the same currency account.
• Partial withdrawal is not allowed, but the Bank may, in its sole discretion, allow a premature withdrawal of the whole of the Fixed Deposit. The Customer accepts that by doing so, the Fixed Deposit may be subject to a lower interest and premature withdrawal fee
• In the case of a Fixed Deposit withdrawn in full within 7 days of making the Deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall not be entitled to any interest.
• In the case of a Fixed Deposit withdrawn in full after 7 days of making the Deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall be entitled to 50% of the interest rate, for the period that the deposit has been maintained.