Existing ADCB account
You need an active ADCB Current or Savings Account to link the deposit to.
ADCB Fixed Deposit
ADCB Fixed Deposit locks AED 5,000 or more for 1 to 12 months at a fixed rate, from 2.55% to 2.75% a year. Interest is paid when the deposit matures.
An existing account with ADCB is required, such as ADCB Current Account.
At a glance
Account access
No debit card included.
An existing account with the bank is required.
A fixed deposit is a simple trade. You hand ADCB a set amount for a set time, and the bank pays a rate that does not change until the end. With the ADCB Fixed Deposit the minimum is AED 5,000, and you choose a term of 1, 2, 3, 6 or 12 months. The money comes from, and returns to, an ADCB Current or Savings Account, so you need one of those first. You cannot add to a deposit once it is booked. Residents and non-residents can both hold one, singly or jointly. For day-count terms, ADCB offers the Online Century Deposit.
Who can open it
Fees and balance
Minimum deposit
AED 5,000
Interest
Interest is paid at maturity. No interest if redeemed before 30 days. Later early redemption uses the lower of the actual-tenor interest rate minus 1% per annum and the booking-tenor interest rate minus 1% per annum, paid for the actual days held. Any excess interest already paid is recovered from the linked account.
Available deposit tenures
| Tenure | Annual rate |
|---|---|
| 1 month | 2.75% |
| 2 months | 2.65% |
| 3 months | 2.65% |
| 6 months | 2.55% |
| 12 months | 2.55% |
| Tenure | Annual rate |
|---|---|
| 1 month | 2.75% |
| 2 months | 2.65% |
| 3 months | 2.65% |
| 6 months | 2.55% |
| 12 months | 2.55% |
In plain words
- Annual rate
- The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
- Tenure
- The length of time you agree to leave the deposit in place. You choose it when you open the deposit, and the rate you get depends on the tenure you pick. More on this
- Paid at maturity
- Maturity is the day the term you chose ends. The interest is paid then, together with the amount you deposited. More on this
What your money earns here
Tenure
12 months
The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates
AED 255
interest over 1 year
2.55%
a year
interest earned over time
Interest is not compounded along the way. At the end of the term you can renew at the rate on offer that day, either by telling ADCB at least seven business days ahead or by setting automatic renewal.
Benefits
Fixed Rate for the Term
The rate is set on the day the deposit is booked and holds until maturity.
Foreign Currency Deposits
Available in dirhams, US dollars, British pounds and other currencies.
Overdraft Against the Deposit
An overdraft facility secured on the fixed deposit is available.
How to open
Before you apply
1.An existing account with the bank is required.
2.Minimum deposit: AED 5,000.
3.No debit card included.
Application steps
1.Make sure you hold an active ADCB Current or Savings Account.
2.In the ADCB mobile app, select Fixed Deposits and choose Open Now.
3.Or log in to ADCB Personal Internet Banking and go to Fixed Deposits, then Open New Account.
4.Choose the amount and the term, and confirm the booking.
Good to know
Good option for
Money you will not need for a known period of up to a year, when you want the return fixed in advance.
Consider another account if
You might need the money within 30 days, or want interest during the term. The Regular Interest Deposit pays it out monthly, quarterly or half-yearly.
No cooling-off period
A fixed deposit is not covered by ADCB's product return option. By signing the Key Facts Statement you waive the cooling-off period, so the only way out after booking is early redemption on the terms above.
Frequently asked questions
Get answers to common questions about the ADCB Fixed Deposit