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Fixed Deposit Accounts in UAE

If you are thinking about making a good investment then you should definitely consider fixed deposit accounts in UAE. Fixed deposit rates in Abu Dhabi, Sharjah, Dubai or UAE are good enough for people to invest in them. With a fixed deposit account, you deposit your money for a fixed duration. The tenure of the deposit varies with the scheme chosen by you. The interest is earned on a monthly, quarterly, half yearly or a yearly basis which again depends on the scheme offered by the bank.

One of the reasons why fixed deposits is a popular investment choice is that the risk involved with such an account is extremely less.

Standard Fixed Deposit

These are standard fixed deposit accounts or FDs as they are widely called, with interest rates depending on the principle, currency type and duration of the account. The tenure for such an account can vary from a few days to 10 years. Certain banks do offer premature withdrawals and overdraft facilities on FDs as well.

Finding that ideal bank offering you a great investment option is simple with the list present at Storat.

Flexible Deposit Account

If you are not so keen on depositing your money for a fixed longer term then Emirates flexi deposit can be a good choice for you. The tenure for a flexi deposit account can begin from 3 months to 3 years. The tenure and rate of interest depends on the particular bank’s scheme. The benefit of a flexible deposit account is that you can make withdrawals for emergencies while the remaining deposit amount stays as it is.

Interest rate in UAE banks are attractive for such deposit accounts. Get in touch with your nearest banks to get more details on flexible deposit account through Storat’s listings.

Special Fixed Deposit Account

Special fixed deposit accounts are offered by certain UAE banks which let you earn a higher rate of interest compared to other accounts. Moreover, the term of such an account is also unique along with added extra benefits.

Senior Citizen Fixed Deposit Account

If you are a senior citizen and you are considering the option of investing in a fixed deposit then banks in Dubai, Abu Dhabi and Sharjah have a specialized scheme to cater to your needs. Many banks in Emirates offer fixed deposit accounts specially designed to suit the requirements of senior citizens. They not only offer higher interest rates but also provide flexible tenure apart from other extra benefits.

Storat has put together a list of all the banks offering a special senior citizen deposit account so that you can contact them with a simple click.

Recurring Deposit Account

Some banks in UAE including Abu Dhabi and Sharjah offer recurring fixed deposit accounts. The difference of owning a recurring deposit account is that you can choose to reinvest the amount after maturity along with the profits earned on the initial investment. Banks offer high interest rate and flexible duration on such type of accounts.

Fixed deposit rates in UAE 2017 have been quite competitive thus encouraging people to invest more in these fixed deposits. If you want to be sure about the profits earned at the end of the term, you can check fixed deposit rates in UAE calculator provided by the banks online. So it becomes easier for you to decide on a particular deposit scheme.

The best way to start with it is to check the listings available here on Storat so that you can select a fixed deposit account which is best suitable for your interests.