Doha: Qatar National Bank (QNB) has announced the latest deposit rates for various currencies, effective from Sunday. The rates cover different tenures ranging from one month to twelve months, reflecting the changing dynamics in the financial market.
According to Qatar News Agency, the deposit rates for USD start at 3.66727% for one month and rise to 3.98600% for a twelve-month term. For the Japanese Yen (JPY), the rates begin at 0.74000% for one month and increase to 1.55000% for twelve months. The Swiss Franc (CHF) shows a negative rate for shorter durations, beginning at -0.05000% for one month and adjusting to a positive 0.20000% at the twelve-month mark. The British Pound (GBP) rates range from 3.58000% for a one-month deposit to 4.50000% for a twelve-month deposit.
In the local and regional currency segment, the Qatari Riyal (QAR) starts at 4.02880% for a one-month period, increasing to 4.36020% for twelve months. The Saudi Riyal (SAR) is consistent at 4.50000% for both one-month and six-month durations, slightly increasing to 4.60000% for a year. The UAE Dirham (AED) rates begin at 2.05000% for one month, peaking at 3.15000% for a twelve-month term. Lastly, the Bahraini Dinar (BHD) rates start at 4.60000% for one month and increase to 4.69000% for a twelve-month deposit.
These rates reflect QNB's strategy to provide competitive returns on deposits across different currencies, catering to the diverse needs of its clientele.