Yes, any deposit amount booked under the Enhanced Escalator Deposit can be redeemed (provided the outstanding amount remains higher than the minimum amount required). Redemption of the deposits before maturity is subject to a notice of at least two (2) UAE business days in writing and no penalty if deposit is cancelled on any interest payment date after 12 months, otherwise applicable penalty will be 1% on the interest rate applied.

Yes, you can cancel at any time subject to specified conditions, but reinvesting in the product would be subject to the prevailing market rates at that time.

UAB may provide customers with an overdraft (up to 90% of the deposit amount) against this product at a very attractive price to meet any short-term cash flow requirement. Interest on overdraft is at 3% per annum over the deposit rate, secured against lien on the underlying deposit. The rate of the lending facility fluctuates semi-annually (Please contact your relationship manager for more details. Subject to internal approvals).

For this particular product we are offering rates in 2 currencies AED, USD