Ajman Bank Fixed Deposit

Ajman Bank is committed on providing modern Islamic Banking Services to its customers. The Sharia-compliant services of the bank are specifically designed to provide the customers with more returns.

The Ajman Bank Mudaraba is an account with high fixed deposit rates in UAE. The longer the duration of the deposit, the more would be the returns. The profits on this account are generated as well as distributed through the Mudaraba pool. The benefits offered on this account help in meeting the diverse financial needs of the account holder.

Ajman Bank Fixed Deposit Account Features and Benefits

Listed below are the key features and benefits of this fixed deposit in UAE.

Flexible Tenure for Deposit

The Mudaraba (time deposit) can be availed for flexible deposit periods starting from 3 months to 12 months.

Multiple Currencies

The account holder can make their deposits in not just UAE dirhams but also in US dollars.

Profit Distribution

The profits earned on the funds through the fixed deposit interest rates (profit rates) are distributed to the account holder quarterly. 

Automatic Renewal

The account holder can avail the facility of automatic renewal, where their deposit gets renewed automatically upon maturity.

Minimum Balance Required

The account holder has to maintain a minimum balance of AED 10,000 monthly on this fixed deposit.

Account Availability

This bank account is available for individuals as well as minors. This account can also be opened as joint account. This account is available for the following organizations-

  • Partnership
  • Sole Proprietorship
  • Joint Stock Company
  • Limited Liability Organizations

Availing Finance

The account holder can avail finance against their fixed deposit in UAE for their short-term liquidity needs.

Documents Required to Open an Ajman Bank Fixed Deposit Account in UAE

For opening this Fixed Deposit in UAE, the applicant has to submit a few documents with the Ajman Bank. The following table contains the list of documents required to open this account.

ID ProofEmirates ID for both Expats and UAE Nationals (original & copy)Passport along with Visa Page for Expats (original & copy)
FormDuly filled up and signed form for account opening and T&Cs

How to Open Ajman Bank Fixed Deposit Account in the UAE?

In the case of Ajman Bank Fixed Deposit Account (Mudaraba), there are four ways to get it open in the UAE. Following are these ways.

Through Branch Application

The applicant can visit the nearest branch of the Ajman Bank for getting this deposit account open in the UAE. For branch applications, the applicant will have to come along with the required documents, which have to be submitted to the bank.

Through Phone Banking

To open this account, the applicant can also call the customer support executive of Ajman Bank on 80022.

Through Online Banking

The Ajman Bank offers the applicant the facility of online banking, where they can conveniently access their banking solutions round the clock no matter where they are. The applicant may use the secure online banking portal of the bank for opening this fixed deposit UAE.

How to Close Ajman Bank Fixed Deposit Account in the UAE?

For the closure of this fixed deposit account, first of all, the account holder must withdraw their money from the account or transfer it to any other of their bank account.

Once this is done, the account holder must apply for closing the account either by using online banking, or branch of the bank or through phone banking.

The account holder will have to bear a charge equal to 2 percent of their term deposit for closing the account.