Emirates NBD has launched FlexiDeposits, a new product which will allow customers to make partial withdrawals from their fixed deposit, while still keeping the rest of the deposit intact.
According to Emirates NBD, FlexiDeposits, which require a minimum deposit amount of AED100,000 or its equivalent, is available in the four major currencies – the UAE dirham, the US dollar, the British pound or the euro.
Deposits must be for a minimum tenor of six months, while the maximum term can extend to a period of three years.
Partial withdrawals from a FlexiDeposit can be made in multiples of AED10,000. The frequency of the withdrawals is unlimited.
Vikram Krishna, head of group marketing at Emirates NBD, said: “FlexiDeposits is another landmark concept that offers customers the liberty to save for the future while at the same time giving them the confidence that they can access their money in time of need.”