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Frequently Asked Questions

You can open a Fixed Deposit Plus in AED and USD currencies. All other currencies are available on special request.

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

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

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

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 and USD 10,000