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Mashreq Unfixed Deposit Account
Unfixed Deposit Account
Features
- Flexible Tenure: Lock in your savings from 6 months up to 5 years, depending on your financial goals.
- Partial Withdrawals: Access your funds anytime in AED 1,000 or USD 250 increments without closing the full deposit.
- Multi-Currency Support: Open deposits in AED or USD for greater flexibility.
- Easy Digital Setup: Open your deposit quickly via Mashreq Online or Mobile, no paperwork needed if you’re an existing customer.
- Minimum Deposit: Start saving with just AED 2,500 or USD 2,500.
- Eligibility: Must be 18 years or older; minors can open via a guardian.
- Continuous Interest: Remaining balance continues earning interest even after partial withdrawals.
- AED Unfixed Deposit rates: Start at 1.17% (6 Months) and go up to 2.18% (5 Years).
- USD Unfixed Deposit rates: Start at 1.30% (6 Months) and go up to 2.23% (5 Years).
- Note: Rates may change weekly; final rates are confirmed at booking and remain fixed for the entire term, while auto-renewals may earn a lower rate.
Main Benefits
- Flexible withdrawal even before maturity.
- Remaining deposit continues earning interest after partial withdrawals.
- Flexible tenure options from 6 months up to 5 years.
- Supports multiple currencies: AED and USD.
- Low minimum deposit requirement: AED 2,500 (or USD equivalent).
- Fully digital setup and management via app or online.
- Emergency-ready liquidity with partial withdrawals.
Frequently Asked Questions
Q. What is a Mashreq Unfixed Deposit?
A. A Mashreq Unfixed Deposit is a flexible term deposit that lets you lock your money for 6 months to 5 years while earning competitive interest, with the added convenience of making partial withdrawals when needed.
Q. How do partial withdrawals work in an Unfixed Deposit?
A. You can withdraw funds in units of AED 1,000 or USD 250. If you withdraw early, penalties may apply, but the remaining balance continues earning interest for the rest of the tenure.
Q. Which currencies are supported and what is the minimum deposit?
A. Mashreq Unfixed Deposits are available in AED and USD. The minimum deposit requirement is AED 2,500 (or equivalent in USD).
Q. Who is eligible to open a Mashreq Unfixed Deposit?
A. Anyone 18 years or older with an active Mashreq Current or Savings Account can open an Unfixed Deposit. Minors can open it through a guardian.
Q. How can I open a Mashreq Unfixed Deposit?
A. You can open it online through Mashreq Mobile Banking or Mashreq Online Banking. No branch visit or paperwork is required, making it quick and convenient.
Q. Does Mashreq charge penalties on early withdrawal?
A. Yes, early withdrawal penalties may apply on the amount withdrawn. However, the remaining balance keeps earning interest at the applicable rate.
Q. Why should I choose a Mashreq Unfixed Deposit?
A. This deposit is ideal if you want higher returns than a savings account, along with flexibility to withdraw part of your funds anytime for emergencies, short-term needs, or financial planning.
Q. Where can I check the latest Unfixed Deposit interest rates and charges?
A. For the most accurate and updated interest rates, tenure options, and penalties, check the Mashreq Mobile App, Mashreq Online Banking, or contact Mashreq customer support.
Mashreq
Mashreq Bank is a private sector bank established in 1967. It was started by Al-Ghurair Group and it also known as largest private sector bank. Mashreq Bank provides both retail and commercial services to their customers.
Mashreq provides a wide range of products and services that suits the needs of every customer. It works with an aim to provide their customers best banking experience and establish a good customer bank relationship. Mashreq Bank has marked its presence globally by starting their operations at regions like Bahrain, Egypt, Kuwait, Qatar. It also has branches in New York, Mumbai(India), London and Honk Kong.
Get in touch with Mashreq Customer Care