Business Everyday Banking - Term Investment Deposits | RAKislamic UAE

Term Investment Deposits

Turn up your returns with a Sharia-compliant Investment Deposit

Term Investment Deposit

Term Investment Deposit - Safe, easy and convenient

Stay on top of your Term Investment Deposit easily, securely and conveniently anytime, even when you're on the go through the following channels:
 
Digital Banking - through our website or via the RAKBANK Business App 
RAKdirect - call 600 54 0044 for our 24/7 Phone Banking service 
 
SMS alerts - get instant notifications through your registered mobile phone number

Safe, easy and convenient

AED, USD, GBP, EUR currencies

AED, USD, GBP, EUR

Please refer to the <a href="/globalassets/rakbank/all-pdfs/islamic-business-banking_sp_026-j00807-sp-vat-businessaccountservices-islamic-170423.pdf" target="_blank" rel="noopener">Service and Price Guide</a> for more details on the applicable fees.

Fees

Learn more

Term Investment Deposit - Free takaful cover

You will automatically receive free takaful cover, equivalent to the value of your deposit.
No extra contribution, no medical tests or additional documentation is required. 
Additionally, an easy payout feature means that you get this exceptional benefit completely hassle-free. 
Note: For the terms and more details about your Life Takaful cover, please click the link below.

Free takaful cover

Term Investment Deposits - Terms and Conditions Notification

Terms and Conditions

Business Current Account -Q2?

Customers are issued with a Deposit confirmation

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Account Features

The RAKislamic Term Investment Deposit is based on the Islamic principle of &lsquo;Mudaraba&rsquo;. This means you can earn profit on your deposits with the profit being declared and credited on a quarterly basis.

Earn profits and save

Business Current Account -Q5

Call Me Back Option - Business Islamic deposit account

Submit your details and we’ll be in touch soon

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<ul>
<li style="font-weight: 400;" aria-level="1">Minimum amount for opening a RAKislamic Term Investment Deposit is AED 25K</li>
<li style="font-weight: 400;" aria-level="1">In order to place a RAKislamic Term Investment Deposit, the customer must have an active transactional account.</li>
<li style="font-weight: 400;" aria-level="1">No profit is paid out for a deposit placed with the Bank for less than 1 month.</li>
</ul>
&nbsp;
Warnings:
<ul>
<li>Foreign currency exchange rates are used for computing minimum balance as well as minimum balance charges. Applicable amounts in foreign currency may vary based on the exchange rate variation from month to month.</li>
<li style="font-weight: 400;" aria-level="1">Until the maturity date, deposit amount cannot be accessed by the customer or customer has to redeem the deposit to utilise the same.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may close the Account if KYC or identification documents are not updated regularly, or if required as internal policies, or upon request from regulatory / judiciary entities.</li>
</ul>

Risks and Limitations

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Deposit

Terms And Conditions

AED 25,000 (or equivalent in USD, GBP, EUR)

Business Current Account -Q6

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Term Investment Deposit - FAQ's

Business Current Account -Q4?

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Term Investment Deposit - Available for businesses and individuals

The RAKIslamic Term Investment Deposit Account is available for individuals and for business entities. Whether you’re growing your own net worth or your organisation’s, this Account will do wonders to your balance.

Available for businesses and individuals

Islamic

AED 50,000-above

Eligibility & Fees

You’re only a few minutes away from your account

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Islamic Business Term Investment Deposit

You are required to:
<ul>
<li style="font-weight: 400;" aria-level="1">Review this document and all other terms and conditions set out in the application form in detail;</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website (www.rakbank.ae) for updates;</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form; and</li>
<li style="font-weight: 400;" aria-level="1">Always safeguard sensitive banking details such as your Account number, chequebook, Debit Card, login ID, passwords, PIN, etc.</li>
</ul>

Customer Rights and Obligations

Business Current Account -Q3

<ul>
<li>Available to UAE and non-resident individuals and business customers</li>
</ul>

Term Investment Deposit - Residency

Term Investment Deposit - Eligibility

Eligibility

Term Investment Deposit - Flexible tenures

Term Investment Deposit is available in flexible tenures ranging from 1 month, 3
months, 6 months, or 1 year. 
What’s more, it is available in a choice of AED, USD, GBP or EUR Accounts, giving you complete flexibility on your investment.

Flexible tenures

AED 5,000-19,999

AED 20,000-49,999

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Term Investment Deposit - Tabbed Box

FAQ Accordion Items

Term Investment Deposit - Help Card

<ul>
<li>Must hold a RAKislamic transactional account for the purpose of funding deposit and receiving expected profit returns at maturity</li>
</ul>

Term Investment Deposit - Other Requirements

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Key Fact Statement

Service and Price Guide - Business

Term Investment Deposit - Relevant links

Benefits

Not sure about something? Check our frequently asked questions to find what you’re looking for.

FAQ’s Help Card - Islamic

FAQs

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Term Investment Deposits - Terms and Conditions

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Download the RAKBANK Business app!

Simplify your banking experience with our feature-rich app. From payments to payroll, our comprehensive Banking Solutions provide everything you need to manage your business finances from one secure and easy-to-use platform.

Scan the QR code to download the app from the Google Play Store

Global - Business - RAKBANK Business

Your all-in-one financial partner

Profit rate applicable:YES

Profit rate applicable: YES

Business Current Account -Q1?

<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>

Visit A Branch

A specialist will be able to assist you with the process

Visit a branch

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<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Account with 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the profit rates for the Account with 30 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless it is reactivated. </li>
</ul>

Key Terms and Conditions

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