Step-Up Time 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.

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 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%

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%

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. 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.

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