Fixed Deposits Fixed Deposit Account

ADCB

Absolute flexibility. High earnings

We made everything easy for you with the Fixed Deposit Account, which offers you flexible tenures and competitive interest rates.

5,000 AED
Minimum deposit
Or equivalent in currencies.
90% Up to
Overdraft facility
To meet urgent demands.
2.50% Up to
Interest rate
Per annum.

Keep in mind

  • Interest payment on premature withdrawal of fixed deposits will be charged at 1% p.a. less than the interest rate that is applicable for the actual tenor and will be payable for the actual number of days the fixed deposit was maintained, unless provided otherwise in any applicable supplemental terms and conditions of a specific fixed deposit product.
Key Features and Benefits

  • Open to UAE nationals, expatriates and non-residents
  • Available in UAE Dirhams, US Dollars, British Pounds and other currencies
  • Minimum deposit of AED 5,000 or its equivalent in respective currencies
  • Flexible tenures in months: 1, 2, 3, 6, 9, 12, 13 and days: 50, 75, 100, 150, 200, 375, 400, 500
  • Enjoy an attractive interest rate of up to 2.50% p.a on ADCB IB Century Deposits
  • Overdraft facility of up to 90% of fixed deposit to meet any immediate needs
  • Simple documentation
  • Enjoy a higher interest rate and more convenience when opening a fixed deposit through ADCB Personal Internet Banking

Interest Rates

Earn attractive interest rates of 2.50% per annum on Fixed Deposits for a tenure of 500 days. For further details on Century Fixed Deposits*, please refer below table

Tenure AED
(Rates effective from
10th September,2019)
USD
(Rates effective from
10th September,2019)
500 days 2.50% Not Available
400 days 2.45% 2.10%
375 days 2.40% 2.00%
200 days 2.30% 1.90%
150 days 2.20% 1.85%
100 days 2.00% 1.80%
75 days 1.90% 1.75%
50 days 1.40% 1.40%

*Interest rates are per annum and subject to change without prior notice. Minimum deposit amounts are AED 5,000 and USD 1,500 (as applicable)

Enjoy easy access and more convenience when opening a fixed deposit through ADCB Personal Internet Banking

Earn attractive interest rates of 2.20% per annum on Offshore Century Fixed Deposits for a tenure of 400 days. 

For further details, please refer to the tables below:

Offshore Century Fixed Deposit Rates*

Tenure USD
(Rates effective from
10th September, 2019)
400 days 2.20%
375 days 2.15%
200 days 2.00%
150 days 1.95%
100 days 1.90%
75 days 1.85%
50 days 1.50%

Offshore Term Deposit Rates*

Tenure

USD
(Rates effective from
15th August,2019)
GBP
(Rates effective from
10th September,2019)
AUD
(Rates effective from
10th September,2019)
13 Months 2.10% Not Available Not Available
12 Months 2.00% 0.70% 1.15%
6 Months 1.80% 0.55% 1.10%
3 Months 1.75% 0.50% 1.05%
2 Months 1.50% 0.45% 0.95%
1 Month 1.30% 0.35% 0.90%

*Interest rates are per annum and subject to change without prior notice. Minimum deposit amounts are USD 1,500, AED 1,500 & GBP 1,500 (as applicable). Enjoy easy access and more convenience when opening an Offshore term deposit through ADCB Personal Internet Banking

Tenure Onshore** 
(Rates effective from
10th September,2019)
Offshore** 
(Rates effective from
10th September,2019)
5 Years 2.10% 1.50%
3 Years 1.90% 1.40%

** ADCB Premium Fixed Deposits for Onshore is in AED and Offshore in USD

How is interest calculated?

Conventional Fixed Term Deposits

For all Fixed Term Deposit products, interest is calculated based on annual simple interest. Irrespective of the term of the Fixed Term Deposit, the interest rates are not compounded during the term of the Fixed Term Deposit.

1. For all Fixed Term Deposit products except traditional term deposits (AED & other foreign currencies), calculation of the interest is done using the 'Actual/Actual' convention (explained below), which assumes the year basis to be 365 days for non-leap year(s) and 366 days for leap year(s).

2. Depending on day on which the deposit is booked ('Fixed Term Deposit Start Date') and period for which the deposit is booked ('Term'), the total number of days for which the Fixed Term Deposit is maintained with ADCB ('Deposit Period'), may span across non leap year(s) or leap year(s).

3. If the Deposit Period contains leap day(s) (i.e. 29th of February), then:
a.  The number of days which fall in the leap year are divided by 366 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that period.
b.  The remaining days, which fall in the non-leap year are divided by 365 and this ratio is then multiplied by the contracted interest rate and Fixed Term Deposit principal to calculate the interest for the remaining period.
c.  The sum total of both these calculated interest amounts obtained at 3(a) +3(b) above, is the total interest paid on the Fixed Term Deposit.

4. If the Deposit Period does not contain  leap day(s), then:
a. The number of days is divided by 365 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that Deposit Period.
b. For example:

Principal amount in AED Fixed Term Deposit Start Date Term Maturity Date
1,000,000 June 9, 2019 500 days October 21, 2020
A Principal amount in AED 1,000,000
B Start date 9-June-19
C Tenor (Days) 500
D Maturity date 21-Oct-20
E Days in Non-Leap year (2019) 206
F Days in Leap year (2020) 294
G Interest rate p.a. 2.95%
H Interest due in non-leap year [(E/365)*G*A] 16,649.31
I Interest due in leap year [(F/366)*G*A] 23,696.72
J Total interest in AED (H+I) 40,346.03
K Maturity Value** in AED 1,040,346.03

 **The amount mentioned in the calculator is an indicative figure and is for illustrative purpose only. Please refer to the Fixed Term Deposit advice for the exact maturity amount.

 In case of the Fixed Term Deposits where the Deposit Period is in months, the number of months is converted into days and the interest calculation method is same as mentioned above at points 1 to 4.

1. For all Fixed Term Deposit products, calculation of the interest is done using  “Actual/360” or “Actual/365” convention (explained below), which assumes the year basis to be 360 days or 365 days based on the currency.

Actual / 360 Convention Actual / 365 Convention
AED: UAE Dirham, USD: US Dollars, CAD: Canadian Dollars, AUD: Australian Dollars, SAR: Saudi Riyal NZD: New Zealand Dollars, GBP: Great Britain Pound

2. Depending on Fixed Term Deposit Start Date and the Term of the Fixed Term Deposit the Deposit Period may span across non leap year(s) or leap year(s).

3. Irrespective of whether the Deposit Period contains leap day(s) or non-leap day(s), 

a. The number of days are divided by 360 or 365 based on the currency (mentioned above) and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that Deposit Period.

b. For example:

Principal amount in AED Fixed Term Deposit Start Date Term Maturity Date
1,000,000 June 9, 2019 500 days October 21, 2020
A Principal amount in AED 1,000,000
B Start date 9-June-19
C Tenor (Days) 500
D Maturity date 21-Oct-20
G Interest rate p.a. 2.95%
H Interest due in non-leap year [(C/365)*G*A] 40972.22
K Maturity Value** in AED 1,040,972.22

 

 **The amount mentioned in the calculator is an indicative figure and is for illustrative purpose only. Please refer to the Fixed Term Deposit advice for the exact maturity amount.

 In case of the Fixed Term Deposits where the Deposit Period is in months, the number of months is converted into days and the interest calculation method is same as mentioned above at points 1 to 3 for the Fixed Term Deposit products booked/renewed on or after 12th March, 2019.

In case of early withdrawal of a Fixed Term Deposit, the method explained above for interest calculation will apply. 

The calculation processes provided above are for your information only and may change from time. Your Fixed Term Deposit and any calculation of interest on your Fixed Term Deposit is subject to ADCB Consumer Banking Terms and Conditions available on ADCB Website adcb.com.

Eligibility criteria

  • Available to UAE nationals, residents and non-residents
  • Available to all ADCB customers with an active Current or Savings account in AED, USD, GBP and other major currencies
  • Minimum deposit of AED 5,000 or its equivalent in respective currencies

TouchPoints

TouchPoints will be awarded if your deposit amount is AED 100,000 or more. The number of TouchPoints earned will vary according to the tenure of the deposit:

Tenure (TouchPoints Paid on maturity) TouchPoints for every AED 10,000*
1 month 10
2 months 20
3 months 40
6 months 100
12 months and above 300
* TouchPoints are not awarded for Advantage Fixed Deposit.

Terms and Conditions apply. For further details, please click here.

Terms and Conditions

Terms and Conditions apply.

To view the full Consumer Banking Terms and Conditions, click here.

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