Doha: Qatar National Bank (QNB) has announced the latest deposit rates for multiple currencies, providing a detailed overview of interest rates for various terms ranging from one month to twelve months. The rates, effective as of Tuesday, reflect the bank's current offerings for deposits in USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD.
According to Qatar News Agency, the deposit rates for USD range from 3.86151% for a one-month term to 4.35261% for a twelve-month term. The Japanese Yen (JPY) shows a steady increase from 0.90000% for a one-month deposit to 1.50000% for a twelve-month deposit. For the Swiss Franc (CHF), rates start at -0.16000% for one month, gradually rising to 0.20000% for a year-long deposit. Meanwhile, the British Pound (GBP) deposit rates begin at 3.77000% for one month and reach 4.86000% for twelve months.
The rates for local and regional currencies such as Qatari Riyal (QAR) and Saudi Riyal (SAR) also show varied interest rates across different terms. For QAR, the one-month rate is 4.06667%, while the twelve-month rate slightly decreases to 4.00000%. In contrast, SAR rates start at 4.50000% for a one-month deposit and increase to 4.60000% for a twelve-month deposit.
Similarly, the United Arab Emirates Dirham (AED) has a one-month deposit rate of 2.05000%, which progressively increases to 3.15000% for a twelve-month term. The Bahraini Dinar (BHD) reflects a steady increase from 4.60000% for a one-month deposit to 4.69000% for a twelve-month deposit.
These deposit rates are crucial for investors and individuals looking to optimize returns on their deposits in various currencies, offering insights into the current financial market trends in Qatar as facilitated by QNB.