Last Updated on 12 April 2026
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CBD Step-Up Time Deposit
Step-Up Time Deposit
Features
- Earn up to 1.40% interest per annum depending on tenure stage
- Minimum deposit starting from AED 10,000
- Deposit available only in AED currency
- Interest accrued daily and credited at maturity
- Fixed investment tenure of 720 days
- Deposit can be opened instantly via online banking for existing customers
- Pre-mature withdrawal allowed subject to applicable conditions
- Secure fixed return deposit option
- You do not get a dedicated relationship manager for this account
- You can not open this account in other major currencies
- Required to maintain a minimum monthly balance of AED 10,000
- 1.4% profit rates are paid on the given account
Required Documents
- Completed account opening form
- Emirates ID
- Valid passport and UAE residence visa (for expatriates)
- Existing savings or current account with the bank
Main Benefits
- Increasing interest structure rewards long-term saving
- Safe and predictable investment returns
- No maximum deposit limit
- Suitable for surplus funds or planned savings
- Convenient digital account opening for CBD customers
- Flexible financial planning with guaranteed maturity returns
- Early withdrawal (premature encashment) may attract reduced interest or penalty rates as per bank policy.
- Increasing interest structure encourages longer saving periods
- Guaranteed fixed returns with minimal risk
- Accessible with a relatively low starting deposit
- Suitable for individuals seeking stable savings growth
- Easy online deposit placement through digital banking
- Interest accrued daily ensures accurate earnings calculation
Frequently Asked Questions
Q. What is a Step-Up Time Deposit Account?
A. A Step-Up Time Deposit is a fixed investment deposit where the interest rate gradually increases over the tenure, allowing customers to earn higher returns the longer the funds remain invested.
Q. What is the minimum deposit amount required?
A. The minimum deposit amount required to open a Step-Up Time Deposit is AED 10,000.
Q. What is the maximum deposit limit?
A. There is generally no specified maximum deposit limit, allowing customers to invest larger sums depending on their financial goals.
Q. What is the tenure of the Step-Up Time Deposit?
A. The deposit typically has a fixed tenure of up to 720 days.
Q. How is the interest calculated on this deposit?
A. Interest is calculated daily on the deposited amount and credited at the time of maturity or liquidation.
Q. Why is it called a Step-Up deposit?
A. It is called “Step-Up” because the interest rate increases at different stages during the deposit period, rewarding customers for keeping their funds invested longer.
Q. Can I withdraw my deposit before maturity?
A. Yes, premature withdrawal may be allowed, but reduced interest or penalties may apply according to the bank’s policy.
Q. In which currency can I open a Step-Up Time Deposit?
A. This deposit is typically available only in UAE Dirhams (AED).
Q. Is a minimum salary required to open this deposit?
A. No minimum salary requirement applies, but customers usually need to maintain an existing banking relationship with the bank.
Q. Can new customers open this deposit?
A. Customers may need to hold a savings or current account with the bank before placing a Step-Up Time Deposit.
Q. When will the interest be paid?
A. Interest is usually paid at the end of the deposit tenure (maturity) or when the deposit is liquidated.
Q. Are there any monthly maintenance fees?
A. No, there are generally no monthly maintenance fees associated with a Step-Up Time Deposit.
Q. Is there any annual fee for this deposit?
A. No annual membership or maintenance fees are charged for this deposit product.
Q. Is the Step-Up Time Deposit a safe investment?
A. Yes, it is considered a low-risk investment product because the principal amount remains secure and the interest rate structure is predetermined.
Q. Who is the Step-Up Time Deposit best suited for?
A. It is ideal for customers who want stable returns, low-risk savings, and a structured interest growth over time without actively managing their investments.
CBD
Commercial Bank of Dubai (CBD) offers a wide range of retail and commercial banking products and services, in both conventional and Shariah-compliant formats, with a network of 26 branches and over 210 ATMs throughout the UAE. The bank endeavors to build sustainable prosperity through extraordinary banking experiences. CBD commits to:
- Authenticity
- Simplicity
- Partnership
- Innovation
- Responsibility
- Excellence
Get in touch with CBD Customer Care