| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
Dubai Islamic Bank - Maximizer Wakala Deposit
|
Minimum Deposit Required: AED 10,000 | Annual Return: 6% | Annual Fee: AED 0 | Choice of Terms: - | Features: Islamic Banking |
Maximizer Deposit is a 18-month Wakala Deposit from Dubai Islamic Bank with accelerated expected profit rate, wherein the expected profit rate will increase every month.
The profit will be calculated on monthly basis, on the expected rate specific to that month (refer table below) and will be paid on maturity. So maximise your returns and meet your savings goal faster.
Features & Benefits:
The profit will be calculated on monthly basis, on the expected rate specific to that month (refer table below) and will be paid on maturity. So maximise your returns and meet your savings goal faster.
Features & Benefits:
- Fixed deposit tenure of 18 months
- Minimum deposit of AED 10,000
- Earned profit paid on maturity
- Available in AED only
- Free secured credit card
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
