We make planning for your future easy by providing fixed returns on your money.
Step-Up Deposit is a time deposit that accelerates interest rate with the tenor, so the longer you save, the higher interest you earn.
What is the minimum and maximum amount for Step-Up deposit?
You will need a minimum of AED 10,000 for Step-Up deposit and there is no maximum deposit amount.
What are the tenors offered for Step-Up deposit?
Step-Up deposit has a fixed tenor of 720 days.
What are the interest rates on Step-Up deposit?
Will I get interest from Step-Up deposit in case of pre-matured withdrawal?
Is Step-Up deposit available in other currencies?
Step-Up Deposit is available in AED only.
Can I top-up my existing Step-Up deposit?
No, you can't top-up existing Step-Up deposit, but you can always open a new Step-Up deposit account.
Who is eligible to open Step-Up deposit?
You should be UAE national or UAE resident.
You will also need valid passport, residence visa and Emirates ID.
Can I keep this deposit as lien for availing secured lending?
Yes, you can keep Step-Up deposit as lien for availing secured lending. Lien can be created on Step UP Deposit. However the tenor for lien cannot be longer than that of Step Deposit maturity, since the auto renewal facility for Step-Up Deposit is not available. Please contact our call center 600 575 556 for exact interest rate applied on secured lending.
What if I am no longer a UAE resident, however I am still holding a Step-Up deposit with CBD?