CBI Fixed Deposits
CBI offers fixed deposits at competitive rates of interest to help you grow your money systematically. However, interest rates offered by CBI on FDs are subject to change without any prior notification to customers. It depends on the market condition and liquidity requirement of the bank. The bank provides fixed deposits for different tenures at different interest rates, investing in which you can get greater benefits on your savings. A fixed deposit a simple and effortless way of making money.
CBI Fixed Deposits: Benefits & Features
- CBI offers attractive rates of interest on its FDs.
- A minimum deposit of AED 10,000 is required to open an FD account with CBI.
- A person can open any number of fixed deposits with CBI.
- Choice of currency is allowed. With CBI, a fixed deposit account can be opened by using UAE Dirham, US Dollar, Euro and Sterling Pound.
- Renewal of fixed deposits and payment of interest are based on standing instruction provided by account holder.
- Overdraft facility of up to 90 % of the deposit amount is available.
- Having a savings or current account with CBI is mandatory to open a fixed deposit account.
CBI Fixed Deposits: Eligibility Criteria
- UAE resident and non-resident individuals can open an FD account with CBI.
- Firms, institutions, clubs and government departments are eligible to open fixed deposit accounts with CBI.
What is a Fixed Deposit Account?
A fixed deposit account is a savings account or certificate of deposit provided by banks which help you/investors to get higher rate of interest on your savings than a regular savings account. It pays you a fixed rate of interest on your savings until a given maturity date. Fixed deposits cannot be withdrawn prior to maturity. However, with advanced notice and paying a penalty fee, you can withdraw your deposits. Based on interest rates, fixed deposits are divided into two types – simple fixed deposits and cumulative fixed deposits. These are extremely safe investment options for personal and business related investments. Fixed deposits are also known as term or time deposits.
Commercial Bank International or commonly known as CBI is one of the leading banks in UAE. The bank has recognized as "The Fastest Growing Bank" and "The Most Improved Bank" by the Banker Middle East in 2013. CBI offers a wide range of products such as Savings Account, Bancassurance, Loans, Credit Cards, Corporate Banking, Retail Banking, SME Banking, and Fixed Deposits etc. CBI constantly tries to provide superior experience to customers by providing customized products and excellent services. The bank is headquartered in Dubai, and has growing presence in UAE. The bank’s shares are listed on the Abu Dhabi Securities Exchange.
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