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Fixed Deposit

Get more than you expect

Enjoy attractive rates of interest as well as peace of mind as you watch your money grow with our Fixed Deposits.

Relax. With your RAKBANK Fixed Deposit, you automatically receive free Life Insurance cover equivalent to the value of your Fixed Deposit*. Without even paying a single premium! How’s that for value?

In case of death of the insured, the insurance amount will be paid directly to the nominated beneficiary, with very few formalities.

No medical check-ups or tests and no lengthy policy documents to sign. You get the Free Life Insurance simply by opening or renewing your RAKBANK Fixed Deposit.

Balance Slab (AED) Below 1 Month >=1 Month to <3 Months >=3 Months to <6 Months >=6 Months to <12 Months 12 Months
> =25k - < 100k 0.25% 0.25% 0.50% 0.75% 1%
> =100k - < 500K 0.25% 0.25% 0.50% 0.75% 1%

 

Balance Slab (USD) Below 1 Month >=1 Month to <3 Months >=3 Months to <6 Months >=6 Months to <12 Months 12 Months
> =7k - < 27k 0.25% 0.25% 0.25% 0.50% 0.50%
> =27k - < 136K 0.25% 0.25% 0.25% 0.50% 0.75%

 

Currency Minimum Amount
AED 25,000
USD 10,000
GBP 10,000
Euro 10,000

*The Cover is provided by RAK Insurance and RAKBANK (the ‘Bank’) has no liability towards you for Insurance coverage. This is only a summary of the principal provisions of the master policy. This summary does not describe all the terms and conditions of your policy, so please take time to read the policy terms and conditions to make sure you understand the cover it provides.

**Interest rates are subject to change without prior notice.​

*Note: Verification Image text is case sensitive