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Commercial Bank of Dubai

Step-Up Time Deposit

  • Earn up to 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, click here to open an Account Now

Step-Up Deposit Terms and Conditions

TenorInterest rate p.a. %
0 – 180 days 0.75%
181  – 270 days 1.00%
271 – 360 days 1.25%
361 – 450 days 2.00%
451 - 540 days 2.50%
541 - 630 days 3.00%
631 - 720 days 4.00%

*Terms and Conditions apply

  • If you are UAE National or UAE resident and minimum 18 years of age.

 

Documents Required

  • Completed deposit application form.
  • National ID or valid passport, residence visa and Emirates ID.
Step-Up Deposit is a time deposit that accelerates interest rate with the tenor, so the longer you save, the higher interest you earn.
You will need a minimum of AED 10,000 for Step-Up deposit and there is no maximum deposit amount.
Step-Up deposit has a fixed tenor of 720 days.
You can earn up to 4%. The longer you save, the higher interest you earn:

Tenor

Interest Rate p.a

0-180 days

0.75%

181-270 days

1.00%

271-360 days

1.25%

361-450 days

2.00%

451-540 days

2.50%

541-630 days

3.00%

631-720 days

4.00%


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

0.75%

0.75%

181-270 days

1.00%

0.75%

271-360 days

1.25%

1.00%

361-450 days

2.00%

1.25%

451-540 days

2.50%

2.00%

541-630 days

3.00%

2.50%

631-720 days

4.00%

3.00%


Step-Up Deposit is available in AED only.
No, you can't top-up existing Step-Up deposit, but you can always open a new Step-Up deposit account.

To apply for 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.
Yes, you can keep Step-Up deposit as lien for availing secured lending. Please contact our call center 800 CBD (223) for exact interest rate applied on secured lending.

Please contact CBD customer service at 800 223 (CBD) to assist you with your query.

 

Visit us

You are more than welcome to visit us. Find out your nearest branch.



Call us

Within UAE: 800 CBD (223)

Outside UAE: +971 4 2112888