This product is launched as a 1 or 2 years deposit facility, offering transparency and flexibility.

All rates across the time buckets are predefined.

Example 1: a customer decides to place AED 1,000,000 in a 2 years deposit at 3.00% p.a., at the end of 2 years customer will receive AED 1,060,000. If customer needs the full amount after 6 months, then 6 months rate will apply (No Penalty will be charged) resulting in customer receiving 2.20% p.a. for 6 months i.e. AED 1,011,000.

Example 2: a customer decides to place AED 1,000,000 in a 2 years deposit at 3.00% p.a., at the end of 2 years customer will receive AED 1,060,000. If customer needs the full amount after 100 days (Which is more than 3 months and less than 4 months), 3 months rate will apply (No Penalty will be charged) resulting in customer receiving an interest of 1.75% p.a. for 100 Days i.e. AED 1,004,861.