| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
ENBD Smart S@ver Account
|
Minimum Balance Required: AED 5,000 | Annual Return: 1.75% | Features: Multiple Currencies |
Features:
- Available in foreign currencies (AED,USD and GBP)
- Up to 2% interest rate p.a.
- Quick transfer through online banking and cash deposit machines
Key features:
- Open an account in AED, USD, GBP
- Interest rate up to 2% p.a. for AED, 1.25% for USD and 0.75% for GBP
- Interest calculated on daily closing balance
- Utility bill payments are not considered as withdrawals
- Easy transfers to your own Smart S@ver account
- One withdrawal per month does not affect the interest rate
- Account managed online
- For salaried, non-salaried and self-employed individuals
** 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.
