Emirates Islamic Emirates Islamic
Emirates Islamic Emirates Islamic

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"Flexi" Term Deposit

Profits and Flexibility Combined.

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Key Benefits

Flexibility

Flexibility

9 months term deposit with a flexibility to withdraw early

Profits

Profits

Profits paid out quarterly

Currencies

Currencies

Available in AED and USD

Early Withdrawals

Withdrawal Between 0-3 Months

Savings profit rate declared for the concerned quarter(s) for each completed calendar month.

Withdrawal Between 3-6 Months

3 Months Investment Term Deposit profit rate declared for the respective calendar quarter(s) plus Savings profit rate for each subsequent calendar month completed.

* Profit adjustments will be done to the profit already paid based on previous quarters 9 months. "Flexi" profit rate already credited to the customer's account to arrive at the final payment.

Please Note: These profits are provided at the discretion of the bank. Terms and Conditions Apply.

Frequently Asked Questions

  • Conventional Bank is a financial body which receives money from the depositors against fixed rate of interest and it offers liquidity to borrowers against interest. And it is governed by conventional banking laws.
  • Islamic Bank is a financial body which executes commercial contracts likes sale, leasing, construction and are governed by Islamic Banking laws which allow for financial bodies to carry on commercial activities for profitable purposes.

  • In Conventional Banking, Savings Account and Fixed Deposit (FD) are a special type of Savings Account that pays a predetermined interest over a predetermined period of time. The depositors from conventional banks receive Interest from their investments in the form of predetermined interest rates irrespective of bank’s performance.
  • In Islamic Banking, bank depositors receive their returns depending solely on the bank’s performance. Unlike Conventional Banks, an Islamic Bank acts as an intermediary between the depositor and the financee. As such, Islamic banks declare their profits on a monthly basis as part of their risk sharing scheme “Mudaraba Scheme”.

  • Interest is certain amount of return from specific sum of money invested over predetermined period of time. This is not permissible as per Shari’a.
  • Profit is an undetermined return from specific sum of money invested over a predetermined period of time and it may vary from month to month, directly depending on how the bank performs. This is permissible as per Shari’a.