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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
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 27,000
- 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
AED Fawrun Term Deposit - Profit Rates
Rates effective from 7th February 2021:
| Amount | Less than 3 Months* | 3 to 5 Months | 6 to 11 Months | 1 Year** |
|---|---|---|---|---|
| 100K to 499K | 0.10% | 0.15% | 0.25% | 0.40% |
| 500K to 999K | 0.15% | 0.20% | 0.35% | 0.50% |
| 1 Mio to 4.99 Mio | 0.15% | 0.20% | 0.35% | 0.60% |
| 5 Mio up to 10 Mio | 0.20% | 0.30% | 0.45% | 0.70% |
USD Fawrun Term Deposit - Profit Rates
Rates effective from 7th February 2021 :
| Amount | Less than 3 Months* | 3 to 5 Months | 6 to 11 Months | 1 Year** |
|---|---|---|---|---|
| 27K to 199K | 0.03% | 0.05% | 0.10% | 0.20% |
| 200K to 599K | 0.05% | 0.10% | 0.15% | 0.30% |
| 600K to 1.49 Mio | 0.05% | 0.10% | 0.15% | 0.40% |
| 1.5 Mio up to 2.72 Mio | 0.10% | 0.15% | 0.20% | 0.50% |
Note: Takaful cover is not offered on Fawrun Deposit.
For Deposit amounts below AED 100K & USD 27K and tenor below 1 Month, applicable 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 and for deposit tenors 2 years and 3 years, 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.
