Minimum age
18 years
Mashreq Unfixed Deposit
Mashreq Unfixed Deposit is a term deposit of 6 months to 5 years that lets you withdraw part of it in AED 1,000 units while the rest keeps earning.
An existing account with Mashreq is required, such as Mashreq NEO Current Account.
At a glance
The Unfixed Deposit is a term deposit you do not have to break in one go. Mashreq treats your deposit as a set of units of AED 1,000 each. If you need cash before the term ends, you withdraw some units to your linked account and leave the others where they are, still earning at the rate you agreed. Terms run from 6 months to 5 years and the minimum is AED 2,500. Like the Mashreq Fixed Deposit, it is open to anyone with an active Mashreq current or savings account and is booked in Mashreq Online or the Mashreq Mobile App.
Who can open it
Minors
A child under 18 can apply together with a guardian.
Fees and balance
Minimum deposit
AED 2,500
Interest
Interest is paid at maturity. Partial withdrawal is allowed in AED 1,000 or USD 250 units, retaining the minimum deposit. Early withdrawal pays interest 2 percentage points below the applicable rate for the completed period.
Available deposit tenures
| Tenure | Annual rate |
|---|---|
| 6 months | 2.29% |
| 12 months | 2.96% |
| 24 months | 3.19% |
| 36 months | 3.35% |
| 48 months | 3.53% |
| 60 months | 3.69% |
| Tenure | Annual rate |
|---|---|
| 6 months | 2.29% |
| 12 months | 2.96% |
| 24 months | 3.19% |
| 36 months | 3.35% |
| 48 months | 3.53% |
| 60 months | 3.69% |
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
60 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 1,845
interest over 5 years
3.69%
a year
interest earned over time
The rate on your deposit stays fixed for the whole term. There is no monthly income from it. The units you leave in are not affected when you withdraw others early.
Benefits
Partial Withdrawals
Take out part of the deposit in units of AED 1,000 or USD 250 without closing it.
AED or USD Deposits
Book the deposit in AED or in USD, with a minimum of 2,500 in either currency.
Online Booking
Existing customers book the deposit in Mashreq Online or the Mashreq Mobile App with no paperwork.
How to open
Before you apply
1.Open in the app.
2.An existing account with the bank is required.
3.Minimum deposit: AED 2,500.
Application steps
1.Hold an active Mashreq Current or Savings Account.
2.Sign in to Mashreq Online or the Mashreq Mobile App.
3.Choose Unfixed Deposit, then set the amount and a term from 6 months to 5 years.
4.Confirm the booking. No paperwork is needed.
Good to know
Good option for
Savers who want a multi-year rate but cannot rule out needing some of the money back, and would sooner give up interest on a slice than break the whole deposit.
Consider another account if
You need a term shorter than 6 months, or want interest paid out during the term. The Fixed Deposit starts at 1 month and offers monthly, quarterly and half-yearly payouts.
Limits on partial withdrawals
Withdrawals must be in whole units of AED 1,000, or USD 250 for a dollar deposit, and what remains must still meet the AED 2,500 minimum. Taking out everything counts as a full early redemption on the same reduced-rate terms.
Frequently asked questions
Get answers to common questions about the Mashreq Unfixed Deposit