Complete the application and receive an amazon voucher for AED 100
| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
Mashreq Unfixed Deposit
|
Minimum Deposit Required: AED 10,000 | Annual Return: 0.256% | Annual Fee: AED 0 | Choice of Terms: 6 months to 5 years | Features: Multiple Currencies |
The Unfixed Deposit from Mashreq is a truly unique account of this type in the region. The amount deposited in divided into internal units of AED 1,000. If you need funds for an emergency, you can choose the number of units that you require and these will be encashed and deposited to your account. The balance of your deposit will continue to earn interest at the agreed rate.
Interest Rates:
Mashreq Salaam Rewards - 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:
Interest Rates:
- Premature Withdrawal Rate - Rate of actual tenor, less 2%
- Partial Withdrawal - Allowed in units of AED 1,000 & USD 250
- Overdraft Against Fixed Deposit - 2.5% above deposit rate.
- Get flexible time periods ranging from six months to five year
- Get flexibility to withdraw funds in units of AED 1,000 or US$ 250 when needed
- No pre-encashment fee
- Get an overdraft facility of up to 95% of the value for your AED deposits and 90% of your US$ deposits
- No Cheque book
- Initial Deposit - AED 10,000
- Minimum Balance - AED 10,000 in AED and US$ 2,500 for a minimum tenor of six months
- No monthly fee
- currency Type - AED or USD
- Minimum Salary - AED 5000
Mashreq Salaam Rewards - 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:
- Current or Savings account with Mashreq is mandatory.
- Application form.
- Passport/Labor Card in original for ID verification.
- Existing Mashreq customers can invest on MashreqOnline.
** 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.
