Fixed Deposits Terms & Conditions

Fixed Deposits

Subject to sole discretion of Emirates NBD Bank (P.J.S.C) ("Bank”) and minimum balance requirement as set out in the account documentation, the Customer may open a Fixed Deposit Account ("Account”). Upon opening such Account, the Bank will issue a confirmation advice to the Customer stating the principal amount, the term and the rate of interest payable for the Account.

The Bank’s obligation to repay the Fixed Deposit shall arise at maturity. The Bank at its absolute discretion may consent to a premature withdrawal of the Fixed Deposit.

The premature withdrawal of the Fixed Deposit shall render the deposit to be subject to lower interest and premature withdrawal penalty as set out in the Fixed Deposits Key Facts Statement.

The Customer acknowledges that the Bank may at its sole discretion vary the provisions applicable to early withdrawals of Fixed Deposit including but not limited to the interest rate and the basis of calculation of interest applicable from time to time by prior notice to the Customer in accordance with applicable law.

The Bank reserves the right to amend the maturity of the Fixed Deposit or prematurely close the Fixed Deposit if required or permitted by applicable law or regulation.

Upon maturity, the Fixed Deposit held with Liv. will automatically be closed where in the principal amount will be credited back to the customer’s Primary Account. Automatic renewal of the Fixed Deposit is not permitted.

Interest credit will be as per the rates set out in the Fixed Deposits Key Facts Statement. Interest will be credited to the customer upfront within a pre-decided period. No interest to the customer will be credited post maturity of the Fixed Deposit.

In the event of a pre-mature closure of the Fixed Deposit, the Bank is entitled to impose a penalty on the principal amount as set out on the Fixed Deposits Key Facts Statement. The Bank is allowed to debit a Customer’s Primary Account with an amount equal to net interest change and the penalty amount (as set out in the Fixed Deposits Key Facts Statement), in relation to premature withdrawal of the Fixed Deposit.