Fixed Deposits

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In the case of a Fixed Deposit withdrawn in full within 7 days of booking the deposit, a fee of AED 100/- shall be payable by the Customer and the Customer shall not be entitled to any interest

In the case of a Fixed Deposit withdrawn in full after 7 days of booking the deposit, a fee of AED 100/- shall be payable by the Customer and the effective premature withdrawal rate will be 50% of the published interest slab rate as on the date of booking the deposit, and not on the contract interest rate of the deposit. The tenure will be calculated basis the number of days the deposit was maintained, i.e., from the booking date to the premature withdrawal date