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Frequently Asked Questions

You can open a Fixed Deposit in AED, USD and GBP currencies. Euro and other currencies are available on special request.

No, a cheque book and Debit Card cannot be issued on a Fixed Deposit.

Both resident and non-resident individuals and companies are eligible to open a Fixed Deposit.

There are no ledger fees on a Fixed Deposit. However, the minimum balance of the Fixed Deposit needs to be maintained for opening a Fixed Deposit.

Interest is payable at the prevailing rate for the term period payable on maturity.

On premature upliftment charges will apply accordingly. For further details contact RAKdirect services on 04 213 0000.

On deposit maturity, customers have the following options:

  • To credit proceeds back to his existing bank account
  • Rollover the deposit for a similar period at prevailing interest rates
  • Add interest to the deposit amount or credit interest to his bank account

Minimum amounts are AED 25,000, USD 10,000 and GBP 10,000.