You can use a fixed deposit account from 1 month up to 10 years of length. The profit rate will also be better if you deposit it for longer time periods.
Yes, you can ask the bank to pay the profit on a monthly basis however the rate of interest or profit rate will only be charged or calculated on annual basis.
Yes, you can withdraw your funds from your fixed term bank account however some banks may charge a penalty or a fee for early withdrawals than a fixed maturity date.
Other Details
Best Suitabe For
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Target Age Group
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Interest Rate / Profit Rate
6%
Interest Calculation Frequency
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Profit Payment Frequency
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Currency of Account
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Free ATM / Debit Card?
ATM Card Network
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Free Cheque Book?
Manage with App?
Branch Banking
Online Banking?
Other Bank Accounts from Dubai Islamic Bank
DIB Special Saving Account
Profit Rate
4.15%
Open Account with
Rs.
1,000
An Islamic saving account for individuals who wants to earn profit on daily balance