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Call Deposits
Get more than you expect
Enjoy attractive returns as well as peace of mind as you watch your money grow with our call Deposits account.
Make your money work for you
Looking for higher returns, but don’t want to lock away your money? You’ve got it. Enjoy higher returns and easy access to your money. Also, earn attractive interest rates on your minimum daily balance with optimum flexibility. You can access your money by giving just two working days’ notice.
Call Deposit accounts require a minimum average monthly balance to be maintained. Failure to which the following fees in the currency of the account will be incurred:
| Currency | Minimum Average Monthly Balance | Fee |
|---|---|---|
| AED | 3,000 | 25*3 |
| USD | 3,000*1 | 25*3 |
| GBP | 3,000*2 | 25*3 |
| EUR | 0 | 0 |
| CHF | 0 | 0 |
| JPY | 0 | 0 |
*Amount is in AED
1Minimum average monthly balance required for company accounts is USD 10,000
2Minimum average monthly balance required for company accounts is GBP 10,000
3Not applicable to Business Accounts
Interest (Effective 9th April 2020):
| Currency | Interest (% p.a.) |
|---|---|
| AED | 0.10 |
| USD | 0.10 |
| GBP | NIL |
| JPY | -0.60 |
| EURO | -1.00 |
| CHF | -2.00 |
For Personal Call Deposit Account, Interest is accrued daily and paid quarterly for AED/USD.
For Business Call Deposit Account, Interest is accrued daily and paid monthly for AED/USD.
For both Personal and Business Call Deposit Account:
- If interest payable is less than AED 10/USD 3, then no interest is credited.
- Euro, CHF & JPY interest charges are accrued daily and applied monthly.
Disclaimer
In line with the UAE’s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK’s fees and charges specified herein, wherever applicable and as per UAE law.
