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Fawrun Term Deposit
Why wait for the things you really want? Get your profit upfront and enjoy your returns right away**.
Now you don’t have to wait for long periods to enjoy your returns. Unlike other fixed deposits, profit is paid when you make the deposit, not at maturity. So, whatever you want from life, you can enjoy it right away.
*Structured Deposit on Murabaha Contract Basis.
**RAKislamic will purchase Sharia Compliant Commodities from you on Murabaha basis and pay the profit upfront and the capital on Maturity
RAKBANK Sale
Unlike designer seasonal collections Saving money never goes out of fashion.
And with the RAKBANK sale you can now bank in style.
Place AED 100,000+ in a Fawrun Term Deposit to earn upfront 4% profit* for 2 years (*Effective profit rate 2% p.a.) or 1.25% p.a. profit for 1 year plus the chance to win a luxury car.
Please click here for details and Terms and Conditions.
Features
- Know your profit at the time of deposit placement
- Receive profit on deposit placement
- Choose from flexible tenors between 1 month to 36 Months
- Minimum Deposit of AED 100,000 or USD 25,000
- SMS notification on deposit placement and profit payment
The Fawrun Term Deposit is completely Sharia compliant. Why wait? Open your Fawrun Term Deposit, today.
Open your Fawrun Term Deposit, today!
Click the Apply button, Call 600 54 0044 or SMS "Fawrun" to 7011
Profit Rates Fawrun Term Deposit – AED*
Rates effective from 10th April 2022:
| Amount | >=1Months to < 3 Months | >=3 Months to <6 Months | >= 6 Months to <12 Months | >= 12 Months to <18 Months | >= 18 Months to <24 Months | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| >=100K to <500K | 0.10% | 0.15% | 0.25% | 1.25% | 1.25% | 2.00% | 2.10% |
| >=500K to <1Mio | 0.15% | 0.20% | 0.35% | 1.25% | 1.25% | 2.00% | 2.10% |
| >=1Mio to <5Mio | 0.15% | 0.20% | 0.35% | 1.25% | 1.50% | 2.00% | 2.10% |
| >=5Mio up to 10Mio | 0.20% | 0.30% | 0.45% | 1.25% | 1.50% | 2.00% | 2.10% |
Profit Rates Fawrun Term Deposit – USD*
Rates effective from 10th April 2022 :
| Amount | >=1Months to < 3 Months | >=3 Months to <6 Months | >= 6 Months to <12 Months | >= 12 Months to <18 Months | >= 18 Months to <24 Months | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| >= 25K to <200K | 0.03% | 0.05% | 0.10% | 1.25% | 1.25% | 2.00% | 2.10% |
| >=200K to <600K | 0.05% | 0.10% | 0.15% | 1.25% | 1.25% | 2.00% | 2.10% |
| >=600K to <1.5 Mio | 0.05% | 0.10% | 0.15% | 1.25% | 1.50% | 2.00% | 2.10% |
| >=1.5Mio up to 2.72 Mio | 0.10% | 0.15% | 0.20% | 1.25% | 1.50% | 2.00% | 2.10% |
Note: Takaful cover is not offered on Fawrun Deposit.
*For Deposit amounts below AED 100K and USD 25K and tenor below 1 Month, applicable profit rate is 0%.
Above rates are quoted on per annum basis and are subject to change without prior notice.
For Deposit amounts in excess of AED 10 Mio or USD 2.72 Mio, please contact your Relationship Manager or visit any RAKBANK branch. Applicable for New and Existing Deposits placed with instruction of renewing the deposit for a similar period.
