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CBD CBD Time Deposit Account
CBD Time Deposit Account
Features
- Fixed deposit with predefined tenure
- Guaranteed interest rate for the selected term
- Available for UAE nationals and expatriates
- Multiple deposit options: standard, step-up, elite step-up, and recurring deposits
- Interest accrued daily and credited on maturity or liquidation
- Early withdrawal allowed, subject to penalty or reduced interest
- Available primarily in AED, with some variants allowing equivalents in major currencies
Required Documents
- To place a Time Deposit, customers are required to provide:
- Valid Emirates ID
- Passport with UAE residence visa (for expatriates)
- Existing CBD savings or current account
- Completed deposit placement request
Main Benefits
- Predictable and stable returns
- Protection from market volatility
- Suitable for short- to medium-term financial planning
- Multiple tenures to match liquidity needs
- Higher returns for longer commitment periods
- Ideal for lump-sum investments and disciplined savers
- Interest is accrued daily, Paid on maturity or liquidation
- Increasing interest slabs over the deposit tenure
- Higher minimum deposits with enhanced effective returns and tenure is 360 days
- Interest paid at maturity
- Recurring (Bonus Booster) Deposit has a Tenure: 36 months with interest rate 8.25%
- Recurring (Bonus Booster) Deposit Monthly savings starting from AED 1,000
- Minimum Time Deposit: AED 10,000 (or equivalent where applicable) Designed for disciplined, long-term savers
- No minimum salary requirement
- Customer must hold an active Savings or Current Account with the bank
- Capital protection with assured returns
- Clear interest structure with no market exposure
- Flexible tenure options
- Suitable for both short-term parking and medium-term planning
- Multiple deposit formats for varied financial goals
- Transparent terms governed by UAE banking regulations
Frequently Asked Questions
Q. What is a CBD Time Deposit Account?
A. A Time Deposit is a fixed-term deposit where funds are invested for a specified period at a fixed interest rate.
Q. When is interest paid?
A. Interest is typically paid at maturity or upon liquidation of the deposit.
Q. Can I withdraw my deposit before maturity?
A. Yes. Premature withdrawal is allowed but may result in lower interest or penalties, as per bank policy.
Q. Is the interest rate guaranteed?
A. Yes. Once the deposit is placed, the interest rate remains fixed for the entire tenure.
Q. Who can open a Time Deposit?
A. UAE nationals and expatriates holding a valid savings or current account with the bank.
Q. Are Time Deposits available in foreign currencies?
A. Standard Time Deposits may be placed in AED or equivalent major currencies, while step-up and booster variants are AED-only.
Q. Is there a cooling-off period?
A. Yes. A five-business-day cooling-off period is provided from the date of contract signing.
Q. Is this product suitable for frequent withdrawals?
A. No. Time Deposits are best suited for funds that can remain untouched until maturity.
Q. What happens if interest rates rise after I book the deposit?
A. The booked rate remains unchanged, ensuring return certainty but no participation in future rate increases.
Q. Who should ideally choose a Time Deposit?
A. Customers with surplus funds seeking safety, certainty, and predictable income.
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