Interest in Advance Deposit

Overview

  • Interest paid to you when you book the deposit
  • Full security with guaranteed principal and interest
  • Competitive interest rates (see table)
  • Flexible tenors
  • Overdraft facility to access your funds when you need them

Compare

Imagine a world where you received your rewards before you’d earned them: holding the medal before you’d run the race, or banking that salary cheque before showing up for work.

Too good to be true, right?

Not if you bank at UNB. We understand that, sometimes, you need a little extra cash. Perhaps it’s because your eyes are not prepared to wait any longer for new glasses, or maybe your son’s upcoming school year means textbooks and uniforms that are going to put a dent in your pocket.

For times like these, when you simply cannot wait for your investment to mature to receive your interest, there’s our Interest in Advance Deposit. With this innovative product, you’ll receive your interest as soon as you’ve made your deposit.

Simple. Rewarding. Just the way life should be.

Available in AED only.

Interest you can earn when you make your deposits

Maturity tenor  
3 month  
6 month  
9 month  
12 month  
18 month  
24 month  
30 month  
36 month  
Proposed rates (per annum)  
0.75%  
1.50%  
1.75%  
2.00%  
2.25%  
2.35%  
2.45%  
3.00%  

Eligibility

Applicants must be:

  • Individuals or non-individuals
  • Able to make a minimum deposit of AED 50,000 (with no ceiling)

Terms & Conditions

Product

  • Interest in Advance Deposit is a contract where interest is credited in advance to the customer’s account at the time of booking the deposit.
  • Principal and interest is guaranteed to the customers.
  • Interest in Advance Deposit is available in UAE Dirhams.

Eligibility

  • Individuals and non-individuals are eligible to book Interest in Advance Deposit. 

Minimum Amount & Tenors

  • Minimum deposit amount of AED 50,000 is required to enter the scheme. 
  • Deposit tenors available for booking Interest in Advance Deposit are 3 month, 6 month, 9 month, 12 month, 18 month, 24 month, 30 month and 36 month. 
  • Bank reserves the right at any time to amend minimum amount and tenors at its own discretion without informing customers.

Interest Rate

  • Interest rate as defined by the Bank from time to time will apply. 
  • Rates once contracted will hold good for the entire tenor. Amended interest rates will be applicable only for new bookings / auto-renewed ones without impacting the existing ones. 
  • Interest is credited in advance into customer’s Current / Savings Account linked to Interest in Advance Deposit at the time of booking the deposit. 
  • Auto renewal of Interest in Advance Deposit (if opted) will be done at the prevailing interest rate and original tenor.

Pre-Mature Closure

  • Less than 6 months: No interest (0% interest rate) to be paid if pre-maturely closed before 6 months of booking Interest in Advance Deposit. Interest paid in advance will be recovered fully from the principal amount. 
  • Greater than equal to 6 months: 1% less than the corresponding interest rate for which the deposit has stayed with the Bank is applicable. The difference of interest amount will be recovered from the principal amount. 
  • Partial withdrawal is not allowed for Interest in Advance Deposit. 
  • Full withdrawal is permitted. 
  • Bank reserves the right at any time to amend clause related to pre-mature closure at its own discretion without informing customers.

Terms & conditions apply

The bank reserves the right to change the interest rates, fees & tariffs, charges and terms & conditions at its own discretion, without any prior notice.