Fixed Deposits

Enjoy attractive interest rates with a fixed deposit to earn higher returns for your investment.

The Essentials

  • Choose to save for a fixed term and receive interest monthly or at maturity
  • The best way to earn a higher interest rate for your funds
  • You can place a Fixed Deposit in both MVR and USD
  • Minimum amount required is MVR 10,000 or USD 1,000

READY TO GET STARTED?

Learn more about Fixed Deposits

Benefits of a Fixed Deposit

  • You can earn a higher rate of interest.
  • You can request the Bank to renew your deposit at maturity with interest earned added to the capital or renew just the capital.
  • Interest is added to your Fixed Deposit account or paid directly to your nominated Commercial Bank of Maldives current or savings account, or any other bank account you nominate

You will be eligible to enjoy following additional benefits apart from the guaranteed returns above!

  • 50% DISCOUNT on Safe Locker Service for the first year.
  • INSTANT LOANS up to 90% of the value the Fixed Deposit at 7.5% p.a.
  • EVEN HIGHER LOAN AMOUNTS can also be considered based on your repayment

Interest payment

For Fixed Deposits for 1 year , earn interest monthly or at maturity.

For others, interest will be paid only up on maturity

Placing a Fixed Deposit

You can visit our Main branch at Male and discuss your requirement with an officer of the branch.

Interest rates applicable for Fixed Deposits are as follows.

Fixed DepositRate of Interest p.a. %
 MVRUSD
03 MONTHS1.751.50
06 MONTHS2.001.65
12 MONTHS at maturity2.251.75
12 MONTHS monthly interest2.23
24 MONTHS at maturity2.30
60 MONTHS at maturity2.50

Please fill the application form which can be downloaded by simply clicking “Apply Now’ link above and hand it over at the branch.

Remember to take a valid identity document, passport and valid work permit in case of non residents. This is necessary for us to identify you.

Withdrawals

Withdrawals will be allowed only after the agreed period of the Fixed Deposit.

If you want to withdraw earlier than the agreed period a lower interest rate will be applied for the period.

Terms & conditions apply

Product information and terms & conditions are subject to change from time to time.
Therefore, it is advisable to contact the Bank for the latest information and prevailing terms & conditions.

The Essentials

  • Choose to save for a fixed term and receive interest monthly or at maturity
  • The best way to earn a higher interest rate for your funds
  • You can place a Fixed Deposit in both MVR and USD
  • Minimum amount required is MVR 10,000 or USD 1,000

READY TO GET STARTED?