Offshore Fixed Deposits

Offshore-Fixed-Dep-2470x1190

Make your money work for you

Enjoy competitive interest rates on Offshore Fixed Deposits, across a wide array of tenors and foreign currency options to suit all your medium to long savings needs.

0.30% Up to
Per annum on
Offshore USD Century Deposits
0.25% Up to
Per annum on
Offshore USD Term Deposits
0.15% Up to
Per annum on
Offshore GBP Term Deposits

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

  • Available in all major currencies such as USD, GBP and AUD, with the added security from ADCB Offshore Banking.
  • Minimum Deposit USD 1,500 or its equivalent in respective currency
  • Flexible tenures in days: 50, 75, 100, 150, 200, 375, 400 and months: 1, 2, 3, 6, 12, 13

Interest Rates

Offshore Century Deposits Rates*
Tenure USD
(Rates valid till
14th June,2020)
USD
(Rates effective from
15th June,2020)
400 days 0.40% 0.30%
375 days 0.35% 0.25%
200 days 0.30% 0.20%
150 days 0.25% 0.15%
100 days 0.20% 0.10%
75 days 0.15% 0.05%
50 days 0.05% 0.01%

Offshore Term Deposit Rates*

Tenure USD
(Rates effective from
15th June,2020)
GBP
(Rates effective from
15th June,2020)
AUD
(Rates effective from
15th June,2020)
13 Months 0.25% Not Available Not Available
12 Months 0.20% 0.15% 0.15%
6 Months 0.15% 0.10% 0.10%
3 Months 0.10% 0.05% 0.05%
2 Months 0.05% 0.02% 0.02%
1 Month 0.01% 0.01% 0.01%

*Interest rates are per annum and subject to change without prior notice. Minimum deposit amounts are USD 1,500, AUD 1,500 & GBP 1,500 (as applicable). Please note the revised interest rate(s) effective from 15th June, 2020 will be applicable upon the next renewal of your Offshore Fixed Deposit(s).


Interest Rates valid till 14th June,2020

Tenure USD GBP AUD
13 Months 0.35% Not Available Not Available
12 Months 0.25% 0.20% 0.25%
6 Months 0.20% 0.15% 0.20%
3 Months 0.15% 0.10% 0.10%
2 Months 0.10% 0.05% 0.05%
1 Month 0.05% 0.01% 0.01%

ADCB Offshore Premium Deposit Rates**

Tenure USD
(Rates effective till
31st May, 2020)
USD
(Rates effective from
1st June, 2020)
5 Years 0.50% 0.25%
3 Years 0.40% 0.15%

** ADCB Premium Fixed Deposits for Offshore is in USD

How is interest calculated?

Conventional Offshore Fixed 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.

TouchPoints

Tenure TouchPoints earned
1 month 10
2 months 20
3 months 40
6 months 100
12 months and above 300

*Touchpoints are not rewarded for Offshore Century Fixed Deposits. Touchpoints will be earned if deposit amount is AED 100,000 or more (in currency equivalent). The number of Touchpoints earned will vary accordingly to the tenure of the deposit. Please note all touchpoint rewards are paid on deposit maturity.

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

Charges and Fees

For ADCB Offshore Banking Fees and Charges, please click here.

ADCB Jersey Disclaimer

ADCB Offshore Banking – Jersey Branch is a registered business name of Abu Dhabi Commercial Bank PJSC, Jersey Branch (“ADCB Jersey”), which is regulated by the Jersey Financial Services Commission. Its principal place of business in Jersey is 27 Hill Street, St Helier, JE2 4UA. The registered head office of Abu Dhabi Commercial Bank is at Abu Dhabi Commercial Bank Head Office Building, Sheikh Zayed Street, Plot C-33, Sector E-11, P.O. Box 939, Abu Dhabi, U.A.E. Abu Dhabi Commercial Bank’s latest financial statements may be viewed at www.adcb.com.

ADCB Jersey is a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website: www.gov.je/dcs, or on request.

Terms and conditions

For ADCB Offshore Banking Terms and Conditions, please click here.

Ways to reach us

Contact centre

Contact centre

Please call on 600 50 2004 or visit any one of the ADCB Excellency Centres across the UAE.

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