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Finance against Fixed Deposit

Finance against Fixed Deposit

Get liquidity when you need it, while still keeping your Fixed Deposit investment intact.


Feature & Benefits:

  • Get access to liquid funds

    High Finance amount up to 90% of the value of your Fixed Deposit or AED 20 Million (whichever is less for FD only with CBD)

  • Get emergency funds

    Don’t break your Fixed Deposit, when in a dire situation; take a loan against it instead

  • Know how much you can borrow

    Minimum finance amount is AED 200,000

  • Financing Tenure

    Flexible repayment period up to 48 months

  • Competitive Pricing

    Competitive pricing starting with minimum of 12 Months EIBOR

  • Deferment Facility

    2- Installment deferments in a year.

  • Eligible Segments

    All Nationalities, salaried or self-Employed banking with CBD.

Eligibility Criteria

  • If you are UAE National or Expat aged between 21 and 70 years (at the finance maturity.
  • If you are maintaining account deposit a minimum of AED 225,000 with CBD*.
    *Terms & Conditions Apply

Required Documents

  • Application form and Loan Agreement/Murabaha Contract
  • National ID, valid passport, residence visa and Emirates ID
  • Deposit Lien Form

Fees & Charges


Processing Fees :
1% with minimum AED 500 to maximum AED 2,500
Insurance Fee :
Free
DMCC Trading Fee :
AED 25 per Million, Min AED 120 (applicable to Islamic)
Other Charges :
All other charges are applicable In line with Personal Finance product



FAQs


I have existing Finance facilities availing from CBD and other Bank in the UAE with full utilization of permissible Debt Burden Ratio (DBR) cap, can I still avail CBD Personal Finance?

Yes, under this product variant you can avail financing facility from CBD even you are sitting on maximum of 50% DSR threshold. DSR for this facility will not be counted /considered.

What are different types of Personal Finance offered by CBD?

CBD offers all types of Personal Finance against Salary Transfer or Hypothecation of FD as listed below:
  • New Personal Finance
  • Top-up of existing Personal Finance
  • Buy-out / transfer of Personal Finance from other Bank (with or without topping up the finance amount)

What is the minimum and maximum age requirement for a CBD Personal Finance against Deposit hypothecation?

The minimum age requirements is 21 years and maximum age is 70 years at the last installment due date for UAE nationals and expats.

Do I require to get Insurance cover with payment of relevant fee for my facility against Fixed Deposit?

It’s a secured financing against FD henceforth, CBD don’t require any Insurance cover from customer.      

 

How do I get profits on my Fixed Deposit during facility period?

You will continue to enjoy receiving same profit on your FD as normal customer. The pricing on your finance facility will apply separately which is not linked with your FD profits.

Can I break my Fixed Deposit before finance maturity date?

Yes, you can break your FD subject to settlement of your finance outstanding. 

What is the Maximum Finance tenure I can avail under this program?

You can avail finance facility with flexible tenure up to 48 months.

What is the Maximum Finance amount I can avail under this program?

You can avail finance facility up to 90% of AED 20 MM (whichever is less) of your fixed deposit.   

To avail Personal Finance against hypothecation of FD, do I still require assigning of my salary to CBD?

It’s a hassle free and quick financing solution that doesn’t require transfer/assignment to CBD. Only hypothecation of your Fixed Deposit is require 

What is Personal Finance against hypothecation of Fixed Deposit?

It a type of financing facility also called as secured lending against pledge of Fixed Deposit to facilitate customer to raise short-term money without breaking a fixed deposit (FD). Under the variant of Personal Finance – secured lending against FD, the customer will enjoy the low profit rate as compared to regular variant of personal finance product which is the main advantage and attraction for the customer



Terms and Conditions Apply.