| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
RAKBANK - Fixed Deposit Plus
|
Minimum Deposit Required: AED 25,000 | Annual Return: 3.25% | Annual Fee: AED 0 | Choice of Terms: 36 | Features: Phone Banking, Multiple Currencies, Internet banking |
Enjoy attractive rates of interest up to 3.25% as well as peace of mind as you watch your money grow with RAKBANK's Fixed Deposits Plus. Available in either AED or USD, you can also enjoy a longer deposit tenor of up to 36 months.
| Balance (AED) | >=1 month to >3 months | >=3 months to >6 months | >=6 months to >12 months | >=12 months to <18 months | >=18 months to <24 months | 24 months | 36 months |
| =25K to <100k | 1.20% | 1.50% | 1.70% | 2.10% | 2.35% | 2.60% | 2.85% |
| =100K to <500K | 1.40% | 1.70% | 1.90% | 2.30% | 2.55% | 2.80% | 3.05% |
| =500K to <5 Mil | 1.60% | 1.90% | 2.10% | 2.50% | 2.75% | 3.0% | 3.25% |
| =5 Mil to <10 Mil | 1.60% | 1.90% | 2.10% | 2.50% | 2.75% | 3.0% | 3.25% |
| =10 Mil to <100 Mil | 1.60% | 1.90% | 2.10% | 2.50% | 2.75% | 3.0% | 3.25% |
** 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.
