Investment Term Deposits

A distinctive profit-bearing product that allows you to invest in your future for yourself and your family.

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Key Benefits

Flexibility

Flexible deposit tenure periods

Profits

Profits paid out quarterly*

Currencies

Available in AED and USD

Mudaraba

Based on the Islamic structure of Mudaraba

*In case of early withdrawal before the maturity date the prevailing Savings account profit rate shall be applied. Any profits paid will be recalculated and deducted from the principle.

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Benefits

Available in AED and USD
Flexible deposit tenure periods
Online banking to view, manage and conduct transactions at your convenience
Phone banking giving you anytime, anywhere access to your accounts
SMS account updates for charge card balances and other transactions

Eligibility

Minimum balance requirements of AED 10,000
Available to individuals, joint accounts and can also be opened for minors
Available for businesses including sole proprietorships, partnerships as well as Joint Stock and Limited Liability organizations

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.

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