Doha: Qatar National Bank (QNB) has issued updated deposit rates for various currencies, effective from Tuesday. These rates apply to different time deposits ranging from one month to twelve months for currencies including USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD.
According to Qatar News Agency, the deposit rate for USD starts at 3.66688% for a one-month term and increases to 3.99029% for a twelve-month term. For the Japanese Yen (JPY), the rate is set at 0.95000% for one month and rises slightly to 1.28000% for a twelve-month deposit. The Swiss Franc (CHF) sees a rate of -0.05000% for a one-month term, adjusting to 0.20000% for a twelve-month deposit. The British Pound (GBP) offers a rate of 3.65000% for a one-month deposit, climbing to 4.28000% over twelve months.
In the local currencies, the Qatari Riyal (QAR) deposit rate begins at 4.00000% for one month and gradually decreases to 3.75000% for a twelve-month term. The Saudi Riyal (SAR) maintains a consistent rate of 4.30000% from two months to twelve months, starting slightly higher at 4.50000% for a one-month deposit. The deposit rates for the UAE Dirham (AED) range from 2.05000% for a one-month term to 3.15000% for a twelve-month deposit. The Bahraini Dinar (BHD) deposit rate starts at 4.60000% for one and two months, increasing to 4.85000% for a twelve-month term.