Doha: Qatar National Bank (QNB) has released the latest deposit rates for various currencies as of Sunday. This announcement highlights the interest rates applicable for different deposit tenures ranging from one month to twelve months for currencies such as USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD.
According to Qatar News Agency, the deposit rates for USD are set at 3.95428% for a one-month term, decreasing to 3.57248% for a twelve-month deposit. The rates for JPY start at 0.35000% for a one-month and two-month term, rising to 0.82000% for a twelve-month deposit. For CHF, the rates currently stand at -0.21000% for one month and slightly improve to -0.03000% for a twelve-month deposit.
For GBP deposits, the rates begin at 3.92000% for one month and slightly increase to 4.01000% for a twelve-month term. In terms of local currencies, the QAR deposit rates start at 4.30000% for one month and decrease to 3.75000% for a twelve-month term. SAR deposit rates begin at 4.75000% for a one-month deposit and stabilize at 4.55000% for longer terms up to twelve months.
The deposit rates for AED are initially set at 2.05000% for a one-month term and rise to 3.15000% for a twelve-month deposit. For BHD, the rates start at 4.79000% for a one-month term and decrease to 4.44000% for a twelve-month deposit. These rates reflect the current financial conditions and market expectations as managed by Qatar National Bank.