Deposit opening fee
Free
Liv Fixed Deposit
A term deposit paying 2% a year, with a choice of monthly, quarterly or half-yearly payout and tenures from one month to two years. From AED 5,000.
Opened from inside the Liv app. You need a Liv Primary Account first.
Liv asks for a staff code on the Contact details screen. Open account to get yours.
At a glance
Key facts
Minimum DepositAED 5,000
Tenures1 to 24 months
Interest Payout
paid monthly, quarterly or half-yearly
The Liv Fixed Deposit differs from the Instant Interest version in two ways: tenure and payout schedule. Tenures run 1, 2, 3, 4, 6, 12 and 24 months. The 24-month option is the longest deposit Liv offers, and it is the main reason to choose this product over the upfront-interest version, which stops at twelve months.
Interest is paid into your Liv Primary Account on the schedule you select.
Who can open it
Minimum age18 years
ResidencyUAE resident or national
A Liv Primary AccountInterest and principal are both credited back to it.
Fees and balance
Balance requirements
- Minimum deposit: AED 5,000.
Account charges
Breaking the deposit early
Early withdrawal is permitted with no fee. Interest is recalculated at the booking-date rate for the elapsed period, less a 1% a year penalty. Partial withdrawal is not offered; the choice is the whole deposit or none. Interest already paid on a monthly schedule is part of that recalculation, so an early exit from a long deposit costs more than from a short one.
Money that might be needed back is better left in a Goal Account, which stays reachable and carries no penalty.
Fee to break the deposit early
Free
No fee. The cost is on the interest: 1% a year is deducted from the pro-rata amount.
Interest and profit
Annual interest rate
2% / year
How interest works
PayoutMonthly, quarterly or half-yearly
- The rate applies to tenures of 1 to 12 months. Choose your payout schedule at booking; payments go to your Liv Primary Account.
Available deposit tenures
- 1 month
- 2 months
- 3 months
- 4 months
- 6 months
- 12 months
- 24 months
- 24 months: 1.5% a year
The rate does not move with your plan, so Liv Max makes no difference to it.
The Instant Interest deposit pays 2.25% on Classic and up to 3.5% on Max with a salary transfer, over a tenure of a year or less. Unless you need a payout schedule or a tenure beyond twelve months, that product pays more at every plan level.
Benefits
Flexible Payout
Monthly, quarterly or half-yearly interest into your account
Tenures Up To 24 Months
1, 2, 3, 4, 6, 12 or 24 months
Early Withdrawal With Penalty
Withdraw early and keep pro-rata interest, less 1% a year
How to open
Open in the app.
An existing account with the bank is required.
Choosing a payout frequency
The payout frequency is chosen at booking and cannot be changed afterwards. Monthly, quarterly and half-yearly options are available. A monthly payout turns the deposit into an income stream, which suits covering a recurring cost. A half-yearly payout leaves more of the money with the bank between payments and produces fewer, larger credits.
If there is no specific use for the interest as it arrives, the frequency is a preference rather than a financial decision. If there is a use, match it to the bill.
Application steps
1.Open the Liv X app on your Liv Primary Account.
2.Go to deposits and choose the Fixed Deposit.
3.Pick a tenure from 1 to 24 months.
4.Choose a monthly, quarterly or half-yearly payout.
5.Enter an amount of AED 5,000 or more and confirm.
Frequently asked questions
Get answers to common questions about the Liv Fixed Deposit
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