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Flexi Fixed Deposit

At RAKBANK we offer a Flexi Fixed Deposit which is a combination of Current Account and a Fixed Deposit. Enjoy both the liquidity of a Current Account as well as the returns of a Fixed Deposit

  • Flexibility – This account provides you with the flexibility of withdrawing money with minimal impact on interest.
  • High Interest Rate – Enjoy high Interest rates
  • Tenor – All deposits will be opened with a tenor of 1 year with  auto roll over 


Flexi Fixed Deposit Interest Rate p.a. Premature withdrawal Interest Rate p.a. Sweep Out Limit Sweep In Limit
Basic 0.50% 0.00% AED 10,000/- AED 3,000/-
RAKselect 0.75% 0.25% AED 50,000/- AED 3,000/-
RAKelite 1.00% 0.25% AED 100,000/- AED 3,000/-

Effective from 10th Aug 2020

Note: Interest is applicable on the flexi Fixed Deposit amount and is calculated from the date of placement of the flexi Fixed Deposit. In case of early upliftment of Flexi Fixed Deposit the above stated premature withdrawal rates will be applied on a pro-rata basis.

Sweep Out 
Any amount available in the Current Account greater than the sweep out limit gets moved into a Fixed Deposit on the 5th of every month* in units of thousands to create a Flexi Fixed deposit.

*For Flexi Fixed Deposits enrolled between 01st to 05th of the month, first sweep out will happen on 05th of the following month.

Sweep In 
The moment the Current Account balance falls below the sweep in limit the Flexi Fixed Deposit is broken in units of thousands as required and moved to your Current Account automatically. (Please refer to the illustration at the end of this page).

Interest Calculation

  • Interest will be accrued daily.
  • Interest Pay-out will be at Maturity (Annual) to the linked Current Account  

Premature Withdrawal

  • In case of premature withdrawal, the Deposit will be broken in multiples of AED 1,000 and a penal rate will be applied on the amount withdrawn, rest of the amount keeps earning regular interest 
  • In the event of premature upliftment due to funds being required in the Current Account the Deposits will be broken based on the last in first out method. This means the most recent Fixed Deposits will be broken first. This will minimize the interest impact to the customer.


  • Flexi Fixed Deposit can be availed by all Current Account holders of the bank. 
  • You are a RAKselect customer and have an account balance of AED 70,000/-. Once you opt for a Flexi Fixed Deposit through Digital Banking AED 20,000/- will move into a Flexi Fixed Deposit on the 5th of the following month.
  • You earn 0.75% p.a. on the Flexi Fixed Deposit balance 
  • You issue a cheque for an amount of AED 60,500/-
  • The cheque is cleared by taking money from the Current Account and breaking the Flexi Fixed Deposit in AED 1,000/- denominations
  • Post the cheque being cleared the customers available balance is as follows
    1. Current Account balance AED 3,500/-
    2. Flexi Fixed Deposit balance: AED 6,000/-
*Note: Verification Image text is case sensitive

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