Today’s small saving for a happier tomorrow.

Convenient and flexible term deposits from BoB .

  • Key Features
  • Documents Required
  • Charges

Term Deposits : Key Features

  • Account can be opened by Individuals, Minors, Illiterates, Non-Residents and Associations (as per guidelines of the bank)
  • Deposits can be in AED, USD , GBP or EURO
  • Minimum tenor of deposit is one month
  • Maximum tenor is 60 months
  • Minimum deposit AED 5000/USD 5000
  • Bank’s Card Rate prevailing at the date of instructions received.
  • Auto renewal facility is available

Term Deposits : Documents Required

KYC guidelines as prescribed by the Central Bank of the UAE

In case of existing relationship with us

  • Duly filled account opening application form (signed in front of bank officials)

For new customer:

  • Duly filled Account opening application form (signed in front of bank officials)

  • Photocopy of valid passport including address page and valid VISA page

  • Copy of valid Emirates ID

  • Photocopy of valid labour contract (in case of salary account)

  • No objection certificate from sponsor

  • Two recent passport-size photographs

  • Copy of tenancy contract/Ejari wherever applicable

  • Original documents to be presented for verification

Term Deposits : Charges

  • As applicable from time to time, please refer Service charges guidelines separately or click Service charges to see more details.

Frequently Asked Questions (FAQs)

  • What is a term deposit account and how does it work?

    Term deposits accounts, also referred to as fixed deposits or time deposits, involve depositing funds for a fixed duration in a bank account. The bank provides a predetermined interest rate on the deposit, which is generally higher than a regular savings account.

  • What are the benefits of opening a term deposit account with Bank of Baroda UAE?

    Opening a term deposit account with Bank of Baroda UAE offers several benefits-

    • Bank of Baroda UAE offers term deposit accounts with currency options including AED, USD, GBP, and EURO.
    • The auto-renewal feature ensures that your investment continues to earn interest automatically after maturity.
    • It eliminates the hassle of manual renewal and provides convenience to account holders.
  • What is the minimum and maximum deposit amount for term deposit accounts?
    • The minimum deposit amount for term deposit accounts at Bank of Baroda UAE is AED 5000 or USD 5000.
    • The minimum tenure for the deposit is one month, and the maximum tenure is 60 months.
    • There is no limit on the maximum deposit amount.
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