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Flexi Fixed Deposit Account

Flexi Fixed Deposit Account

Earnings and convenience, all in one account

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Account Features

Fixed yet flexible

Our Flexi Fixed Deposit combines the liquidity of a Current Account, with the returns of a Fixed Deposit. Now you can have the best of both worlds!

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Current meets Fixed

Best of both worlds
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Attractive interest rates

Watch your earnings grow
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payments

No deposit limits

Put in as much as you want
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Deposit with 1 year tenure

Automatically rolls over
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Interest Rates

Competitive rates. High liquidity.

Flexi Fixed Deposit Interest Rate (p.a.) Premature Withdrawal Interest Rate (p.a.) Sweep Out Limit Sweep In Limit
Standard 0.50% 0% 10,000 3,000
RAKBANK Select 0.75% 0.25% 50,000 3,000
RAKBANK Elite 1.00% 0.25% 100,000 3,000
Benefits

Get more from your deposits

Premature withdrawals with interest

Earn interest, even with premature withdrawals

24/7 Phone Banking with RAKdirect

24/7 Phone Banking with RAKdirect

Flexi Fixed Deposit Calculator

How to use this calculator
  1. Enter the amount you wish to deposit
  2. Select the customer segment
  3. Click on "Calculate"

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Disclaimer

Estimated interest amount shown above is for illustration purpose only. Actual interest amount applicable may vary based on the actual balances maintained in your account, customer segment, interest rate, interest period and as per product terms and conditions.

Eligibility & Fees

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  • Age:
    • 21 years old and above
  • Residency:
    • UAE residents

    Other Requirements:

    • Customer must have an active RAKBANK Current Account

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FAQs

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Flexi Fixed Deposit can be opened via Digital Banking, or by visiting your nearest RAKBANK branch. You will need to hold a RAKBANK Current Account to be able to place a request.

Interest on your Flexi Fixed Deposit will be calculated based on your daily balance, and paid out at maturity to your linked current account.
All Flexi Fixed Deposits come with a standard tenor of one year, with an automatic rollover. However, if you need to withdraw your deposit early, premature closure rates will be applied on a pro-rata basis.
No, there is no separate receipt issued for your Flexi Fixed Deposit. However, details of your deposit will be included in your current account statement.
The Flexi Fixed Deposit is a unique deposit that combines demand deposit with fixed deposit. That way, the depositor is able to enjoy the liquidity of their current accounts as well as the returns of their Fixed Deposits.
Details of your Flexi Fixed Deposit will appear on your current account statement, which will be sent to your registered email address if you have signed up for e-statements. Otherwise, it will be sent to your postal address, as per the bank's records.

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RAKBANK App

Bank on the go anytime, anywhere

Discover the RAKBANK App and enjoy cutting-edge Digital Banking services at your fingertips. Seamlessly manage your accounts, conduct secure transactions, and enjoy a range of innovative features – all in one user-friendly platform.

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