Minimum monthly contribution
AED 250
CBD Mustaqbali Savings
CBD Mustaqbali Savings is a child savings plan of 5 to 18 years, funded from AED 250 a month, a lump sum or both. Your capital is guaranteed throughout.
At a glance
Account access
A child savings plan with a beneficiary aged no more than 18 years at maturity.
CBD Mustaqbali Savings Scheme is a long-term savings plan you set up for a child. You pick a plan term between 5 and 18 years and a savings target, then fund it with regular monthly contributions of AED 250 or more, a lump sum, or a mix of the two. The plan is in dirhams, and your capital is guaranteed for the whole plan term. The child named as beneficiary must not be older than 18 when the plan reaches maturity, so the term you can choose depends on the child's age today. CBD lists the scheme in its app, where you can apply. See other savings accounts if you want savings in your own name with free access.
Fees and balance
Interest
Choice of monthly contributions, a lump sum or both. Capital is guaranteed throughout the plan. For the 60-month plan, the total return at maturity is 3%; profit accrues monthly starting from month 13. Full withdrawal is available subject to the plan conditions.
Available deposit tenures
- 60–216 months
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
How your interest is worked out
The return on this plan is stated as a total at maturity, not as a yearly rate. For the 60-month plan, the bank sets a total return paid at the end of the term, which is shown in the rate section on this page. Profit accrues monthly, but it only starts from the 13th month, so the first twelve months build your capital without adding profit. That means a plan stopped in its first year has earned no profit. Liquidity comes through a full withdrawal, which is available at any time subject to the plan's conditions, and your capital stays guaranteed for as long as the plan runs.
Benefits
Guaranteed Capital
Capital guaranteed throughout the plan term
Flexible Contributions
Monthly contributions, a lump sum or a combination of both
How to open
Before you apply
1.A child savings plan with a beneficiary aged no more than 18 years at maturity.
2.Minimum monthly contribution: AED 250.
Good to know
Good option for
Parents or guardians putting money aside for a child over five years or more, starting from AED 250 a month, who want the capital guaranteed.
Consider another account if
You are saving for less than five years or expect to dip into the money. Profit starts only from the 13th month, and the plan's liquidity is a full withdrawal.
Outside the campaign on new funds
The Mustaqbali Savings Scheme is excluded from CBD's campaign rate on new funds, so money paid into the plan does not earn the campaign rate.
Frequently asked questions
Get answers to common questions about the CBD Mustaqbali Savings