• Abu Dhabi Commercial Bank Fixed Deposit


    Profit Rates on the ADCB Fixed Deposits

    Profit rate is declared and paid every quarter. The latest profit rates, as declared in December 2015, are given below:

    FD term Profit rate for AED Profit rate for USD Profit rate for EUR Profit rate for GBP
    1 month 0.30% 0.23% 0.01% 0.50%
    2 months 0.48% 0.33% 0.01% 0.60%
    3 months 0.65% 0.43% 0.01% 1.50%
    6 months 0.80% 0.73% 0.01% 1.80%
    12 months 1.25% 1.03% 0.01% 2.10%

    ADCB Fixed Deposits – Touch Points

    Touch Points can be earned if an amount equivalent to or in excess of AED 100,000 is deposited. The tenure of the deposit will determine the Touch Points that can be earned, as shown in the table below:

    Tenure Touch Points for every AED10,000
    One month 10
    Two months 20
    Three months 40
    Six months 100
    12 months and above 300

    Touch Points will not be rewarded on Century Fixed Deposit and Advantage Fixed Deposit products.

    ADCB Fixed Deposit

    With ADCB fixed deposits, you can achieve many things in life easily. ADCB Fixed Deposit are designed to help you enjoy every little pleasures of life. The bank offers attractive rates of interest for flexible tenures by investing in which you can earn higher returns on your investments. However, interest rates for fixed deposits are subject to change without giving prior notification to customers. You cannot withdraw your fixed deposits until a specific maturity date. But, with prior notification to bank and paying a penalty fee, you can withdraw your deposits. ADCB offers two types of fixed deposits - Simple Fixed Deposits and Reinvestment Deposits.

    Simple Fixed Deposit by ADCB:

    By investing in Simple Fixed Deposits offered by ADCB, you can choose to get interest on a monthly, quarterly, half yearly or yearly basis. Interest can be received directly at your regular ADCB account or any other bank account.

    Reinvestment Fixed Deposits by ADCB:

    ADCB also offers Reinvestment Fixed Deposits. Investing in these deposits, you can get higher returns on your savings. Here, you can choose to have compounded and accrued interest at the end of the tenure of your FD.

    What is a Fixed Deposit?

    A fixed deposit account can help you get high returns on your investment compared to a normal savings account. Fixed deposits are financial instruments provided by banks to help you earn more on your investments. These deposits pay you fixed rates of interest on your savings until a given maturity date. Normally, interest is credited to your savings bank account or sent to you by cheque. Such deposits are known as simple fixed deposits. Also, you can also choose to reinvest the interest earned on your deposits in the same FDs account. In that case, deposits are called cumulative fixed deposits, and the interest paid to you is known as compound interest.

    ADCB Fixed Deposits: Features and Benefits

    • Auto renewal of FD is available based upon instruction given by you.
    • Interest gets credited to your account on due date.
    • All the fixed deposit accounts offered by ADCB come with a nomination facility.
    • Senior citizens get extra privilege with an additional 0.5% on the interest rate.
    • Get higher returns on select deposits. However, it is subject to terms and conditions maintained by the bank.
    • Premature withdrawal is allowed with a nominal penalty fee charged as per the bank’s policy.
    • Interest rates offered on fixed deposits are subject to change as per the bank’s internal liquidity requirements and changes in the market.

    Features and Benefits of ADCB Conventional Fixed Deposits

    Abu Dhabi Commercial Bank (ADCB) offers several flexible tenures and conventional fixed deposit schemes for all classes of customers.

    The key features and charges of ADCB fixed deposits are:

    • The FD are accounts available for UAE nationals, expatriates as well as non-residents.
    • The scheme is available in many currencies including AED, Euro, GBP and USD.
    • The customer can avail an overdraft of up to 90 percent of the deposit if emergency dictates.
    • The deposits can be made for various periods: 50 days, 100 days, 200 days, 400 days; 1 month, 2 months, 3 months, 6 months, 9 months and 12 months.
    • The minimum deposit required to start a fixed deposit is AED 5,000, US Dollar 1,500, or its equivalent in other currencies.
    • A small percentage of the deposit will be levied as penalty if the customer withdraws their fixed deposit amount before the scheme matures.

    Features and Benefits of ADCB Islamic Fixed Deposits

    ADCB’s Islamic Banking wing offers Fixed Deposits on Shariah-compliant, Mudarabah-partnership basis. The customer’s deposits are invested from a common pool for the best possible yields.

    • Fixed Deposits can be made in AED, Euro, GBP and USD.
    • The deposits can be made for the following tenors: 1 month, 2 months, 3 months, 6 months and 12 months.
    • The minimum deposit for a fixed deposit is AED 5,000, US Dollar 1,500, or its equivalent in other currencies.
    • The deposit is automatically renewed if a withdrawal is not made.

    ADCB Fixed Deposits: Eligibility Criteria

    • Any resident individual and partnership firm are eligible for opening an FD account with ADCB.
    • Sole trader businesses, Hindu undivided family, private and public limited companies, non-governmental organizations (NGO), public corporations, registered societies/associations/clubs, trusts, and government/semi-government bodies/departments are eligible to open FDs with ADCB.
    • Minors can also open FD account with ADCB under the supervision of guardian/parents.

    About ADCB:

    Abu Dhabi Commercial Bank or popularly known as ADCB was established in 1985 as a public shareholding company in UAE. Now, ADCB is a full-service commercial bank offering a number of products and services such as such as Retail Banking, Corporate Banking, Commercial Banking, Wealth Management, Private Banking, Cash Management, Investment Banking, Corporate Finance and Fixed Deposits etc. ADCB’s shares are listed on the Abu Dhabi Securities Exchange.

    ADCB in UAE also offers the following financial products:

    News about ADCB Fixed Deposits

    • ADCB reports a 21% rise in net profit!

      Abu Dhabi Commercial Bank on Tuesday reported a net profit of about AED 2.53 billion. The bank had made a net profit owing to shareholders of AED 0.6 billion last year. And it has increased to AED 1.28 billion in three month to June 30 in this year, 2015.Low cost CASA deposits comprised 49% of the total deposits this year. The capital adequacy ratio is also at a stable 19.80% as of June 30, 2015. The bank has also admitted to a growth of 11% in the customer deposits up until June 30 of this year. The bank’s firm financial footing has enabled the bank to stay true and committed to its customers this year. A record return on equity of 22% in the first half of the financial year 2015 speaks much about the bank and its commitment to its customers.

      23rd July 2015

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