Doha: Qatar National Bank (QNB) has announced its latest deposit rates for various currencies. The newly issued rates were released on Monday, detailing the interest rates for different deposit tenures and currencies including USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD.
According to Qatar News Agency, the deposit rates for USD start at 3.81676% for a 1-month term and go up to 4.27594% for a 12-month term. For the Japanese Yen (JPY), rates begin at 1.05000% for 1 month and increase to 1.50000% for a 12-month deposit. Swiss Franc (CHF) depositors are offered a rate of -0.17000% for 1 month, rising to 0.20000% for a 12-month tenure.
The British Pound (GBP) has rates starting from 3.76000% for a 1-month deposit, escalating to 4.79000% for a 12-month period. For Qatari Riyal (QAR), the rate begins at 4.06667% for 1 month and decreases slightly to 4.00000% for a 12-month deposit.
Saudi Riyal (SAR) rates start at 4.50000% for a 1-month term, with a slight increase for a 12-month period at 4.60000%. The UAE Dirham (AED) has rates beginning at 2.05000% for 1 month and rising to 3.15000% for a 12-month tenure. Lastly, for Bahraini Dinar (BHD), deposit rates commence at 4.56000% for 1 month and reach 5.14000% for a 12-month deposit.
These rates are indicative of the current market conditions and offer insights into the financial landscape in Qatar as provided by QNB's latest release.