Wio Business: Fixed Saving Spaces User Guide & FAQs

Overview

A Fixed Saving Space (Fixed Deposit) is a dedicated savings sub-account in your Wio Business app that allows you to lock in an agreed sum of money for a fixed term at a guaranteed interest rate.

At the end of your selected term (maturity), your original deposit amount plus all accrued interest are automatically paid out directly to your matching currency current account.

Key Benefits & Features

• Guaranteed, High-Yield Returns: Earn competitive, fixed interest rates of up to 3.75% per annum (p.a.) on AED and up to 3.25% p.a. on USD.

• Multi-Currency Savings: Open Fixed Saving Spaces in AED, USD, EUR, or GBP.

• Flexible Fixed Terms: Choose a term that suits your cash-flow needs: 1 month (30 days), 3 months (90 days), 6 months (180 days), or 12 months (360 days).

• Start With Any Amount: No high minimum deposit required—start saving with as little as 1 currency unit (e.g., 1 AED, 1 USD).

• Create Multiple Spaces: Set up and manage multiple Fixed Saving Spaces simultaneously with custom names and pictures.

• Convert Existing Flexi Spaces: Easily convert an active Flexi Saving Space into a Fixed Saving Space in one step without losing accrued interest.

• Flexible Early Withdrawals: Withdraw all or part of your money early if your business needs change. The remaining balance continues to earn the full original interest rate.

Fixed Interest Rates & Early Withdrawal Policy

Fixed Saving Spaces are available exclusively to Grow Plan subscribers. Interest is calculated daily on your end-of-day balance and credited upon maturity.

Active Interest Rates (Effective 1 October 2026)

How Early Withdrawals Work:
If you make a partial withdrawal before maturity, a slight rate adjustment (penalty) applies only to the specific amount withdrawn for the days it was held. The remaining funds in your space keep their original interest rate and maturity date.

How to Create a Fixed Saving Space

1. Open the Wio Business app on your mobile device.

2. Go to the Dashboard and tap the Savings section.

3. Tap New Saving Space and select Fixed Saving Space.

4. Choose your preferred currency (AED, USD, EUR, or GBP), enter your deposit amount, and select your desired term (1, 3, 6, or 12 months).

5. Review the summary under Things to know and agree to the terms and conditions.

6. Authenticate with the One-Time Passcode (OTP) sent to your mobile.

7. Your Fixed Saving Space is active immediately and will appear on your dashboard.

How to Convert a Flexi Saving Space into a Fixed Saving Space

If you already have a Flexi Saving Space, you can easily lock in a fixed rate:

1. Open your active Flexi Saving Space from the dashboard.

2. Select Convert into a fixed Saving Space.

3. Review the conversion summary. All interest earned on your Flexi space up to that moment is automatically credited into the new Fixed Saving Space.

4. Select your preferred term (1, 3, 6, or 12 months) and review the projected interest payout.

5. Tap Convert to fixed.

6. A confirmation screen will appear, and your regular space will instantly become a Fixed Saving Space.

How Multi-Signatory Approvals Work

If your business account has multiple authorized signatories:

1. When any authorized signatory creates, converts, withdraws funds from, or closes a Fixed Saving Space, an approval request is automatically sent to the other signatories.

2. The request displays the full transaction details (type, amount, term, interest rate, and projected interest).

3. Once the required signatories approve the request in their app, the action is executed and a confirmation banner is displayed.

How to Move Money Out or Close Early

1. Open the Wio Business app, go to Dashboard, and tap Savings.

2. Select the Fixed Saving Space you wish to withdraw from or close.

3. Tap Move money (or manage options).

4. Enter the amount you want to withdraw, or enter the full remaining balance to close the space.

5. Review the adjusted interest calculation for the withdrawn funds and tap Continue.

6. Confirm with the OTP.

7. The withdrawn amount plus the accrued interest earned on that portion will be credited instantly to your corresponding currency Current Account.

How Maturity & Auto-Renewal Work

• Automatic Maturity Payout: When your term ends, your Fixed Saving Space closes automatically. Your initial deposit plus all final interest earned are transferred directly into your matching currency Current Account (e.g., USD deposits return to your USD Current Account).

• Auto-Renewal Option: If you prefer to keep your savings invested, you can enable the Auto-renew toggle within the space settings before maturity.

Frequently Asked Questions (FAQs)

Can I add additional funds to an active Fixed Saving Space?

No. Once a Fixed Saving Space is opened, the deposit amount is locked. To save more money at a fixed rate, you can easily open another Fixed Saving Space.

What happens to my Fixed Saving Spaces if I downgrade from Grow to Essential?

If you downgrade to the Essential Plan:

• All your existing active Fixed Saving Spaces will remain active and continue earning interest until their maturity date.

• You can still view, manage, partially withdraw, or close existing spaces.

• You will not be able to create new Fixed Saving Spaces while on the Essential Plan.

Do Fixed Saving Spaces have their own IBANs?

No. Saving Spaces are dedicated internal sub-accounts within your Wio Business account. They do not have independent IBANs and cannot directly receive external bank transfers or make outward bill payments.

Is Wio Bank Sharia-compliant for Fixed Deposits?

Wio Bank PJSC is a commercial digital bank licensed and regulated by the Central Bank of the UAE. Interest rates represent commercial investment yields, and Wio does not currently offer Sharia-compliant Islamic deposit structures.

Does Wio issue physical Certificates of Deposit (CD)?

No. Wio provides a 100% digital experience. All deposit terms, active balances, and maturity dates are accessible anytime directly from the Wio Business app.