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| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
Mashreq Fixed Deposit
|
Minimum Deposit Required: AED 10,000 | Annual Return: 0.256% | Annual Fee: AED 0 | Choice of Terms: 7 days to 5 years | Features: Multiple Currencies, Credit Card |
A Fixed Deposit Account from Mashreq gives you the attractive rates of interest that you expect, with the added flexibility of being able to draw on your funds at any time through an overdraft facility or a secured credit card. You can choose from multiple currencies and durations to find a Fixed deposit that is right for you.
Interest Rate:
Easily earn points for all retail banking solutions such as Current & Saving Accounts, Fixed and Unfixed Deposits, Home/Car/Personal Loans, Insurance, Investments, ROD/SOD and Mashreq Millionaire certificates and also on Mashreq Credit and Debit cards.
Documents Required:
- Premature Withdrawal Rate - Rate of actual tenor, less 2%
- Overdraft Against Fixed Deposit - 2.5% above deposit rate
- A fixed deposit from Mashreq gives you the benefit of higher returns for savings as per your requirements
- Make investments starting at AED 10,000 in all major currencies
- Invest as an individual or as a company, institution, club and government department
- No Cheque book
- Initial Deposit - AED 10,000
- Minimum Balance - AED 10,000
- No monthly fee
- Currency Type - AED, USD, GBP, Euro
- Get flexible time periods ranging from seven days to five years
- Book your fixed deposits on line through mashreqonline as an existing customer
- Withdraw your fixed deposits at any time, the interest paid on early withdrawals will be 2% less than the regular rate
- Minimum Salary - AED 5000
Easily earn points for all retail banking solutions such as Current & Saving Accounts, Fixed and Unfixed Deposits, Home/Car/Personal Loans, Insurance, Investments, ROD/SOD and Mashreq Millionaire certificates and also on Mashreq Credit and Debit cards.
Documents Required:
- Application form
- Passport/Labor Card in original for id verification
- Existing Mashreq customers can invest on MashreqOnline at their convenience
- Current or Savings account with Mashreq is mandatory
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
