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CBD Unit Time Deposit Account
Unit Time Deposit Account
Features
- Fixed deposit with unit-based withdrawal flexibility
- Available in two tenors: 6 months and 1 year
- Minimum deposit starts from AED 100,000
- Earn up to 1.25% on monthly average balances
- Partial withdrawals allowed in multiples of AED 10,000
- Continued interest on remaining balance after withdrawal
- Interest rates fixed at the time of booking
- Available to UAE residents and non-residents
Required Documents
- Completed deposit application form
- Emirates ID
- Passport copy
- UAE residence visa (for expatriates)
Main Benefits
- Minimum Partial premature Withdrawal Amount is AED 10,000 and its multiplier
- Flexibility to withdraw funds without breaking full deposit
- Continued earnings on remaining balance
- Predictable and stable returns
- Suitable for high-value deposit holders
- Minimum remainder balance after partial premature Withdrawal Amount is AED 10,000
- Combines liquidity with fixed income advantage
- Interest rates for 6 Months is 0.40% p.a and 1 Year is 0.55% p.a.
- Ideal for short-term and medium-term financial planning
- For deposit booked for 6 months under 1 Month: If you withdraw units within the first month, you earn 0.00% interest on that amount.
- For deposit booked for 6 months 1 to 2 Months: If you hold for at least a month but less than two, you earn a symbolic 0.10%.
- For deposit booked for 6 months 2 to 4 Months: Staying a bit longer bumps that "exit rate" to 0.15%.
- For deposit booked for 6 months 4 to 6 Months: Withdrawing just before a 6-month milestone earns you 0.20%.
- Under 1 Month (7 Days to 1 Month): You earn 0.00% interest.
- Effectively, you just get your principal back for that portion.
- For deposit for 1 year 1 to 2 Months: If you held the units for at least a month, you earn a minimal 0.10%.
- For deposit for 1 year 2 to 4 Months: Staying for this duration bumps the withdrawal rate to 0.15%.
- For deposit for 4 to 6 Months: Withdrawing shortly before the 6-month mark earns you 0.20%.
- For deposit for 6 Months to 1 Year: If you withdraw units after 6 months but before a full year, you earn 0.30%.
- Eligibility is open to UAE Nationals, residents, and non-residents aged 18 or older (minors require a guardian as a co-applicant)
Frequently Asked Questions
Q. What is a Unit Time Deposit?
A. It is a fixed deposit that allows partial withdrawals in units while continuing to earn interest on the remaining balance.
Q. What is the minimum deposit amount?
A. The minimum deposit required is AED 100,000.
Q. Can I withdraw money before maturity?
A. Yes, partial withdrawals are allowed in multiples of AED 10,000.
Q. Will I earn interest after partial withdrawal?
A. Yes, interest continues on the remaining balance.
Q. Is there any penalty for early withdrawal?
A. Yes, reduced interest or no interest may apply for premature withdrawals.
Q. What are the available tenors?
A. You can choose between 6 months or 1 year.
Q. Is this account suitable for frequent transactions?
A. No, it is designed for savings and investment, not daily transactions.
Q. Who should choose this product?
A. It is ideal for individuals with large funds seeking flexibility and stable returns.
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