Doha: Qatar National Bank (QNB) has announced new deposit rates for various currencies, effective from Monday. The bank has outlined rates across different tenures, 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 rates for the US Dollar (USD) start at 3.66774% for one month and increase to 3.99175% for twelve months. Japanese Yen (JPY) deposit rates begin at 0.85000% for one month and reach 1.35000% for twelve months. Swiss Franc (CHF) rates start at a negative 0.05000% for one month, adjusting to 0.20000% for a twelve-month term. The British Pound (GBP) sees rates beginning at 3.73000% for one month, ascending to 4.53000% for a twelve-month deposit.
For the Qatari Riyal (QAR), the one-month deposit rate is set at 4.00000%, while the twelve-month rate is 3.75000%. The Saudi Riyal (SAR) rates begin at 4.50000% for one month and progress to 4.60000% for twelve months. The UAE Dirham (AED) rates start at 2.05000% for one month, rising to 3.15000% for a twelve-month deposit. Lastly, the Bahraini Dinar (BHD) has a one-month deposit rate of 4.60000%, with a twelve-month rate at 4.85000%.
These rates reflect the bank's strategy to offer competitive returns on deposits, catering to a diverse range of currency holders in the region.