• National Bank of Abu Dhabi Fixed Deposit

    NBAD

    Fees and Charges of National Bank of Abu Dhabi Fixed Deposit

    The National Bank of Abu Dhabi (NBAD) offers fixed deposits at competitive interest rates, for a specific duration, as per the depositor’s requirement. Having flexible tenures ranging from 1 week to 12 months, the term deposits are available in most of the leading currencies including AED, USD, GBP and EUR.

    The charges and fees of the fixed deposit from National Bank of Abu Dhabi are mentioned as under:

    Term Deposit Account: Residents

    Local Currency – Fixed , Call & Notice

    Minimum balance AED 5000
    · Minimum balance to open Call & Notice Accounts

    · Balance below AED 50,000

    • AED 50,000
    • No interest paid that day
    Account Service Charge on Call & Notice Accounts AED 20
    Low balance charges, for average balance below AED 50,000 AED 100
    Foreign Currency - Fixed, Call & Notice
    Minimum balance to open Fixed Deposit $1,500 or equivalent
    Minimum balance to open Call & Notice Accounts

    · Balance below AED 50,000

    • AED 50,000
    • No interest paid that day
    Deposits in US$ 5000 in a day- For amount above US$ 5000 Minimum AED 10
    Withdrawals in currency notes Minimum AED 10
    Low balance charges, for average balance below AED 50,000 AED 100
    Account Service Charge on Call & Notice Accounts Monthly AED 20

    For other transactions for call & notice accounts, in local and foreign currency, charges of current account will be applied or equivalent in foreign currency.

    Term Deposit Account: Non Residents

    Local Currency – Fixed , Call & Notice
    Minimum balance AED 5000
    · Minimum balance to open Call & Notice Accounts

    · Balance below AED 10,000

    • AED 10,000
    • No interest paid that day
    Account Service Charge on Call & Notice Accounts Monthly AED 35
    Low balance charges, for average balance below AED 10,000 AED 250
    Closing charges for Call & Notice account, balance of which is maintained below AED 10,000 for 3 months AED 100
    Foreign Currency - Fixed, Call & Notice
    Minimum balance to open Fixed Deposit $1,500 or equivalent
    Minimum balance to open Call & Notice Accounts

    · Balance below AED 10,000

    • AED 10,000
    • No interest paid that day
    Account Service Charge on Call & Notice Accounts Monthly AED 35
    Low balance charges, for average balance below AED 50,000 AED 250
    Closing charges for Call & Notice account, balance of which is maintained below AED 10,000 for 3 months AED 100
    • Deposits up to $5000 in a day
    • For amount above $50,000
    Flat 1% (Minimum AED 10)
    Withdrawals in Currency Notes (Fixed, Call & Notice accounts) Flat 1% (Minimum AED 10)

    For other call & notice accounts transactions, in local and foreign currency, charges of current account will be applied or equivalent in foreign currency.

    NBAD Fixed Deposits:

    NBAD stands for National Bank of Abu Dhabi. The bank offers fixed deposits for different tenures at attractive rates of interest.  Fixed deposits offered by NBAD are flexible term deposits that help you add value to your savings and earn satisfactory returns. The bank offers two types of fixed deposits - Fixed Deposits as well as Smart Deposits.

    NBAD Fixed Deposits: Benefits & Features

    Fixed deposits offered by National Bank of Abu Dhabi come with number of attractive feature and benefits which include:

    • Enjoy flexible tenures of investment. You can invest for a minimum period of 1 week to a maximum tenure of 12 months.
    • You can choose from multiple currencies to invest in NBAD fixed deposits. Deposits are available in many leading currencies such as AED, USD, GBP and EURO.
    • Top up option is available by using which you can transfer balance to your fixed deposit account from other accounts with the help of a standing instruction.
    • Get attractive rates of interest on your savings.
    • Minimum balance required to open an FD account with NBAD is AED 5,000.
    • NBAD allows premature withdrawal of fixed deposits. The bank charges a penalty fee for such withdrawals.
    • NBAD does not allow partial withdrawal of fixed deposits.

    NBAD Smart Deposits: Benefits & Features

    This is a particular deposit scheme offered by NBAD to help customers make long-term deposits for fixed tenures.

    • This is long term deposit wherein in you can invest for 2, 3, 4, 5, 7 and 10 years.
    • Deposit can be made in local as well as foreign currencies such as AED, USD, GBP and EURO.
    • Minimum deposit amount accepted is either AED 30,000 or USD 10,000, or their equivalent in other currencies.
    • You can choose to receive interest at monthly, semi-annually, or at the end of the deposit.  
    • You can transfer balance from your current/savings account to Smart Deposit account.
    • You can renew or terminate your Smart Deposits.
    • It can be opened both singly or jointly.
    • Partial withdrawal of a Smart Deposit is not allowed.
    • Get fixed rate of interest for the entire tenure of deposit.

    NBAD Fixed Deposits: Eligibility Criteria

    • Having a current or savings account with NBAD is mandatory to open an FD account with the bank.
    • Both UAE residents and non-residents are eligible to open fixed deposit accounts with NBAD.
    • Both salaried and non-salaried customers can open fixed deposit accounts with NBAD.
    • Minors are also eligible to open fixed deposit accounts with NBAD. However, minor FD accounts need to be operated by their guardian/parents.

    *** The same eligibility criteria apply for NBAD Smart Deposits as well.

    What is a Fixed Deposit?

    Fixed deposits are saving instruments offered by banks to help you earn higher returns on your investments. These deposits provide you a fixed rate of interest at the end of the tenure of your deposit, apart from repaying you the original principal amount.  Fixed deposits are also called term deposits wherein you can invest for any tenures based upon your choice and convenience. You can also renew your fixed deposits. Since these deposits are fixed for a particular tenure, banks normally do not allow customers to withdraw their deposits before maturity. But, with prior notification to banks and paying a penalty fee, you can withdraw your fixed deposits to meet your genuine needs.

    About NBAD:

    National Bank of Abu Dhabi is the largest bank in the Emirate of Abu Dhabi and the second largest bank in the United Arab Emirates. Having the largest market capitalization among all the UAE banks, NBAD offers a wide range of products and services which includes Retail Banking, Corporate Banking, Wholesale and investment Banking, Wealth Management, Private Banking, Islamic Banking, Brokerage, Property Management, Fixed Deposits etc.

    You may check out these products also from National Bank of Abu Dhabi:

    News about NBAD Fixed Deposit in the UAE

    • NBAD issues floating rate note worth USD 200 million

      The National Bank of Abu Dhabi has released a floating rate note worth USD 200 million. The interest rate being charged on this note will be paid monthly and will start with the payment of interest at a rate of 0.05% which will increase to a final payment of 0.9%. These interest rates are based on LIBOR and will be calculated by add the interest rate to LIBOR. The way the bond has been structured is that it affords lenders the right to demand repayments that can be processed and paid after 100 days.

      23rd November 2015

    • Government deposits in NBAD dip by USD 13 billion

      The National Bank of Abu Dhabi has reported that between 2014 and 2015 it has lost nearly US $13 billion in government deposits as a result of the drop in the price of oil. The overall drop in government deposits has been about AED 52 billion and the share of NBAD in this was AED 48 billion. While at the end of last year the government had made deposits of up to AED 62 billion, last month's deposits totalled only about AED 31 billion. The drop in oil prices is also likely to slow down the economy of the UAE to 3.5% compared to the 4.6% from last year. Another place where the effects can be seen are small loans where business are exiting the country without repaying their loans. This trend has also been reported by the bank among medium sized companies.

      29th October 2015

    • NBAD’s new strategy is to target commercial clients

      NBAD’s Senior Managing Director and Group Head of Global Retail and Commercial at National Bank of Abu Dhabi recently revealed the bank’s strategy for occupying growth in the internationally connected commercial clients. The bank is aiming to become the go to bank for the commercial clients by acting as the main transactional unit for all their trades. The bank has developed special cash and trade flow products and value added services especially for the commercial clients. The bank is hoping to draw in this segment of customers with their newly added services such as Debt Capital Market (DCM). The bank aims to provide the perfect banking solution to its commercial clients and requires the clients to provide transparent data in order to serve them better.

      26th August 2015

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