Doha: Qatar National Bank (QNB) has issued its latest deposit rates for multiple currencies, effective from Monday. The rates reflect the bank’s current interest offerings on deposits for different terms ranging from one month to twelve months.
According to Qatar News Agency, the deposit rates for the US Dollar (USD) start at 3.95428% for a one-month term and decrease to 3.57248% for a twelve-month term. The Japanese Yen (JPY) rates begin at 0.35000% for one and two-month terms, increasing to 0.77000% for twelve months. The Swiss Franc (CHF) maintains negative rates, with -0.21000% for a one-month deposit, improving slightly to -0.03000% for a twelve-month deposit. The British Pound (GBP) rates start at 3.87000% for one month and rise to 4.00000% for both two and twelve-month terms.
The agency also noted that for regional currencies, the Qatari Riyal (QAR) offers 4.31667% for a one-month deposit, tapering to 3.83333% for twelve months. The Saudi Riyal (SAR) maintains consistent rates of 4.55000% for two to
twelve-month terms, with a slightly higher rate of 4.75000% for a one-month deposit. The United Arab Emirates Dirham (AED) offers rates starting from 2.05000% for one month, reaching 3.15000% for a twelve-month term. Lastly, the Bahraini Dinar (BHD) rates start at 4.79000% for a one-month deposit, decreasing to 4.44000% for a twelve-month deposit.
These rates are crucial for investors and account holders as they provide insights into the bank’s interest offerings, influencing decisions on fixed-term deposits.