Today’s small saving for a happier tomorrow.
Convenient and flexible term deposits from BoB .
Term Deposits
"Enjoy higher rate of interest with longer periods of deposit. Your money remains safe and secure with an option of easy liquidity."
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Key Features
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Documents Required
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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 made in AED, USD, GBP or EUR.
- Minimum tenor of deposit is one month.
- Maximum tenor is 60 months.
- Auto renewal facility is available.
- Overdraft facility is available.
- Interest rate applicable will be card rates on the date of creation of deposit.
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:
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Duly filled Account opening application form (signed in front of bank officials)
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Photocopy of valid passport including address page and valid VISA page
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Copy of valid Emirates ID
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Photocopy of valid labour contract (in case of salary account)
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No objection certificate from sponsor
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Two recent passport-size photographs
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Copy of tenancy contract/Ejari wherever applicable
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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.
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What is a term deposit account, and how does it work?
Term deposit 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 that of a regular savings account.
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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 EUR.
- 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.
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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 5,000 or USD 5,000.
- 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.
