Doha: Qatar National Bank (QNB) has announced new deposit rates for various currencies, effective as of Sunday. The rates cover multiple tenors, including one month, two months, three months, six months, and twelve months, across a variety of currencies such as the US Dollar (USD), Japanese Yen (JPY), Swiss Franc (CHF), and British Pound (GBP), as well as local and regional currencies like the Qatari Riyal (QAR), Saudi Riyal (SAR), UAE Dirham (AED), and Bahraini Dinar (BHD).
According to Qatar News Agency, the newly issued rates for USD deposits start at 3.60833% for a one-month term, increasing incrementally to 3.87603% for a twelve-month term. JPY deposits begin at 0.43000% for one month and rise to 1.20000% for a twelve-month deposit. CHF deposits, which start at -0.10000% for one month, reach 0.15000% for a twelve-month period. GBP deposits are offered at 3.67000% for one month and increase to 4.47000% for a twelve-month term.
For regional currencies, QAR deposits start at 4.06760% for a one-month term and decrease to 3.88333% for a twelve-month term. SAR deposits are fixed at 4.50000% for one month and then stabilize at 4.30000% from two months onward. AED deposit rates start at 2.05000% for a one-month term and rise to 3.15000% for a twelve-month period. BHD deposits begin at 4.56000% for a one-month term, reaching 4.76000% for a twelve-month period.
These newly established rates from QNB provide a range of options for investors and savers looking to deposit in multiple currencies, reflecting the bank's ongoing commitment to offering competitive financial products.