Step Up Time Deposit

The longer you save, the more you earn

We make planning for your future easy by providing fixed returns on your money.

Instant deposit opening

Start as low as AED 10,000

Interest accrued on a daily basis

Highlights

Instant deposit opening
Start as low as AED 10,000
Interest accrued on a daily basis

Features of the Step-Up Time Deposit

Earn interest rate

Earn up to 1.4% interest rate

Attractive interest rate accelerating up to 1.4%

Fixed Tenor

Fixed tenor for 720 days

Finance amount AED 1Million

Available in AED only

Features and Benefits

  • Earn up to 1.4% interest rate

  • Starting from as low as AED 10,000

  • Available in AED (dirhams) only

  • Interest accrued on daily basis and credited on liquidation or maturity

  • Fixed tenor for 720 days

  • Instant opening through CBD Online Banking for CBD customers

  • Not a CBD customer yet? Open an account now.

  • Step-Up Deposit Terms and Conditions

See more

Interest Rates

Tenor Interest rate p.a. %
0 – 180 days 0.70%
181 – 270 days 0.80%
271 – 360 days 1.00%
361 – 450 days 1.1%
451 - 540 days 1.20%
541 - 630 days 1.30%
631 - 720 days 1.40%

*Terms and Conditions apply

Eligibility Criteria

Step-up Time Deposit Criteria
Age Limit If you are UAE National or UAE resident and minimum 18 years of age.
Step-Up time deposit

Required Documents

  • Completed deposit application form.
  • National ID or valid passport, residence visa and Emirates ID.

Key Facts Statement

We kindly request you to carefully read and understand this document if you are applying for a Deposit account from Commercial Bank of Dubai

Learn more

Frequently Asked Questions

What is Step-Up deposit?
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?
You can earn up to 1.4%. The longer you save, the higher interest you earn:

Tenor

Interest Rate p.a

0-180 days

0.70%

181-270 days

0.80%

271-360 days

1.00%

361-450 days

1.1%

451-540 days

1.20%

541-630 days

1.30%

631-720 days

1.40%


Will I get interest from Step-Up deposit in case of pre-matured withdrawal?
You are eligible for interest in case of pre matured withdrawal, however you will earn pre matured withdrawal penal rates as below:

Tenor

Interest Rate p.a

Pre-Matured Withdrawal Penal Rate p.a

0-180 days

0.70%

0.70%

181-270 days

0.80%

0.70%

271-360 days

1.00%

0.80%

361-450 days

1.1%

1.00%

451-540 days

1.20%

1.1%

541-630 days

1.30%

1.20%

631-720 days

1.40%

1.30%


Is the Step-Up available in other currencies?
The Step-Up Deposit is available in AED only.
Can I top-up my existing Step-Up Deposit?
No, you can't top-up an existing Step-Up Deposit, but you can always open a new Step-Up Deposit account.
Who is eligible to open Step-Up Deposit?

To apply for the Step-Up Deposit:

  • You should be UAE national or UAE resident.
  • You should be at least 18 years old.
  • 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?

Please contact CBD customer service at 600 575 556 to assist you with your query.

Important information

In case the customer prematurely liquidates their time deposit, they will not be eligible for any interest pay out. For complete product details and warnings, please refer to the Key Facts Statement document.

Our goal at CBD is to ensure that everyone has access to affordable banking solutions to help improve financial capability, promote savings, and build assets and wealth in the months and years to come.

To ensure you are not charged a monthly service fee on your account, please ensure you maintain a minimum monthly average balance of AED 5,000. This is waived if you transfer your salary to CBD or if you have a loan/finance with the bank.

Download the CBD App and access your financial future from the palm of your hand.

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