Plus, Salary or Family plan
The Wio Personal Standard Plan does not include Fixed Saving Spaces.
Wio Fixed Saving Spaces
Wio Fixed Saving Spaces lock money for 1, 3, 6 or 12 months at a rate fixed on day one. No minimum deposit. Open on the Plus, Salary or Family plan.
An existing account with Wio is required, such as Wio Personal Current Account.
At a glance
A Fixed Saving Space is Wio's fixed deposit. You put in an amount, choose 1, 3, 6 or 12 months, and the rate you are shown when you create it applies for the whole term. At the end, your money and the interest go back to your current account. There is no minimum deposit, and you can open as many Fixed Saving Spaces as you like. You cannot add money to one after it has started.
Fixed Saving Spaces are not available on the Standard Plan. You need a Wio Personal Current Account on the Plus, Salary or Family plan.
Who can open it
Fees and balance
Minimum deposit
None
Interest
Interest is paid at maturity.
Available deposit tenures
1 month
Plus Plan. No penalty on partial or early closure3.75%
Salary Plan. Requires salary transfer and monthly card spend of AED 5,000. No penalty on partial or early closure6%
Family personal Plan. Requires salary transfer and monthly card spend of AED 5,000. No penalty on partial or early closure. Applies up to AED 1.5 million with one Family Lead salary transfer, or AED 2.5 million with both leads transferring salary6%
3 months
Plus Plan. No penalty on partial or early closure3.75%
Salary Plan. No penalty on partial or early closure4%
Family personal Plan. No penalty on partial or early closure3.75%
6 months
Plus Plan. Early or partial closure carries a penalty of 0.5% per annum4.25%
Salary Plan. Early or partial closure carries a penalty of 0.5% per annum4.25%
Family personal Plan. Early or partial closure carries a penalty of 0.5% per annum4.25%
12 months
Plus Plan. Early or partial closure carries a penalty of 0.5% per annum4.5%
Salary Plan. Early or partial closure carries a penalty of 0.5% per annum4.5%
Family personal Plan. Early or partial closure carries a penalty of 0.5% per annum4.5%
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
Rate option
Plus Plan
Plus Plan. Early or partial closure carries a penalty of 0.5% per annum.
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 450
interest over 1 year
4.5%
a year
interest earned over time
The rate depends on your plan and the term. The highest 1-month rate is for spaces on the Salary Plan and the Family Plan only. On the Family Plan it applies up to AED 1.5 million when one Family Lead transfers a salary, or AED 2.5 million when both do.
Interest builds up daily and is paid once, at maturity. Salary Plan rates start only after your first salary has been credited.
How to open
Before you apply
1.Open in the app.
2.An existing account with the bank is required.
Documents and terms
Good to know
Good option for
Plus, Salary or Family plan customers with money they will not need for a set number of months. Small amounts work too, since there is no minimum deposit.
Consider another account if
You are on the Standard Plan, or you want to keep adding to the same pot. Wio Saving Spaces have no term and accept top-ups.
Taking money out early
You can withdraw part or all of a Fixed Saving Space at any time. On 1 and 3 month spaces there is no penalty. On 6 and 12 month spaces, an early or partial closure carries a penalty that lowers the annual rate. The app shows the details before you confirm the withdrawal.
Frequently asked questions
Get answers to common questions about the Wio Fixed Saving Spaces