Key Facts Statement (KFS)
Term Deposits
This product is a term deposit account, linked to a current or savings account, and provides you with returns on the funds placed with us for a specific period. This KFS provides you with key product features, indicative information about the interest, fees and charges of this product.
Product Information
| Description | Fixed Deposit | FlexiDeposit | RegulaReturns Deposit | Goal Recurring Deposit | FlexiSweep Deposit | Steady Saver Deposit | Floating Rate Deposit |
|---|---|---|---|---|---|---|---|
| Product details | Flexible terms of 7 days to 5 years and overdraft facility | Partial withdrawals allowed on customer request, while keeping the rest of the balance deposit intact | Option to choose between monthly, quarterly and half-yearly interest payouts | Create a goal and start saving every month | In case of shortfall, required funds move from term deposit to linked Bank account | Interest compounds every 3 months to further improve returns | Variable rate linked to a reference rate (EIBOR, LIBOR, SOFR, SONIA etc.) |
| Eligibility |
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| Account currency | AED, USD, GBP, SAR, AUD, CAD | AED and USD | AED only | AED, USD and GBP | AED, USD, GBP, SAR, AUD, CAD | ||
| Minimum required deposit amount | AED 10,000 or equivalent in other currency | Minimum monthly contribution of AED 500 or USD 200 | AED 1,000 | AED 1,000 or equivalent in USD or GBP | AED 10 Million or equivalent in other currency | ||
| Available Tenors | 7 days to 5 years | 3 months to 3 years | 6 months to 5 years | 3 months to 3 years | 6, 9 or 12 months | 1 to 10 years | |
| Interest rate |
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Variable as per reference rate, in accordance with the tenor of deposit | |||||
| Interest payment frequency | Upon maturity | Monthly, Quarterly or half-yearly | Upon maturity | Option to select either monthly, quarterly, half-yearly or upon maturity |
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| Partial withdrawal or early redemption fee | Applicable rate less 1% on the amount withdrawn/ redeemed | Within 6 months of booking: Applicable rate less 1% on the amount withdrawn/ redeemed After 6 months of booking: Bank’s prevailing interest rate for Standard Savings Account will be applied | Applicable rate less 1% on the amount withdrawn/ redeemed | Applicable rate less 1% on the amount withdrawn/ redeemed | |||
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Note: Applicable rate is the standard deposit interest rate applicable on the date the deposit was booked, for the period the withdrawn amount is maintained |
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Important Links
For full and latest fees & charges and other product details please visit our website www.emiratesnbd.com/kfs or scan QR code
Illustration for Interest calculation for Fixed Deposit variant as previously mentioned in product information section:
|
Original Deposit Amount (A) Booking amount |
AED 100,000 |
| Deposit Tenor (B) | 1 year |
|
Rate of Interest (C) Fixed rate of interest for the tenor of the deposit |
0.50% per annum |
|
Interest Amount (D = A*B*C/360) Total interest amount paid during entire tenor of the deposit |
AED 506.94 |
|
Maturity Amount (A + D) Total deposit amount (Principal and Interest) |
AED 100,506.94 |
Additional Information
- The Bank reserves the right to amend the Bank’s General Terms and Conditions for Consumer Banking Products (including any relevant applications and documents) by notice to you in accordance with applicable law.
- At the time of booking the Term Deposit, you have a choice to either automatically renew the deposit or have the amount credited to the linked Bank account upon maturity. If the deposit is renewed, the applicable rate for the tenor as on the maturity date shall apply.
- The Bank’s General Terms and Conditions for Consumer Banking Products (including any relevant applications and documents) shall be read and implemented in line with this KFS.
- The Bank may debit the Customer’s account with any charges, expenses, or commission payable against the banking services rendered in accordance with the approved and announced banking charges and commissions, as notified to the Customer from time to time.
- You can contact the Bank for any enquiries, assistance or complaints at any of its branches or by visiting its website [https://www.emiratesnbd.com/en/customer-care/complaints/]
- The cooling-off period allows you to cancel the product within five (5) business days of signing the application or offer letter and the Bank will not be able to proceed until this period expires, unless you waive this right. To cancel within this period you must give the Bank notice.
Warning !!!
Partial withdrawal or early redemption of Term Deposit will result in lower interest or no interest being paid to you on the amount withdrawn.
Warning !!!
In case a loan or other credit product is secured with a Fixed Deposit, you will be unable to access deposit funds till the loan /credit product is closed.
Warning !!!
In the event of your failure to meet our terms and conditions before and during your relationship with us, there will be consequences which may include but not limited to restriction, blockage or closure of your Term Deposit and/ or linked account(s).
*Includes Top-up, Restructuring or Rescheduling
Warning !!!
The Bank may apply any credit balance which is held in your name in any account and/or at any branch of the Bank towards any obligations or amounts due.