Doha: Qatar National Bank (QNB) has announced the latest deposit rates for various currencies, effective from Sunday. These rates provide insights into the financial landscape for investors and account holders in Qatar.
According to Qatar News Agency, the deposit rates in US Dollars demonstrate a gradual decline over extended periods, starting at 4.31984% for a one-month deposit and decreasing to 3.86343% for a twelve-month term. In comparison, the Japanese Yen shows relatively stable rates with minimal fluctuation, beginning at 0.43000% for one month and slightly increasing to 0.27000% for twelve months.
For the Swiss Franc, deposit rates are consistent for the shorter terms at 0.09000% for one and two months, slightly increasing to 0.38000% for a twelve-month deposit. The British Pound rates begin at 4.41000% for a one-month term, with slight variations leading to a decrease to 4.04000% over a twelve-month period.
In regional currencies, rates for the Qatari Riyal start at 4.85000% for a one-month deposit, decreasing to 4.45000% for twelve months. The Saudi Riyal maintains higher rates across all terms, peaking at 5.10000% for three and six-month deposits. The UAE Dirham and Bahraini Dinar also show varied rates, with the Bahraini Dinar offering the highest rate of 5.24000% for a one-month deposit, declining to 4.47000% over twelve months.
These rates reflect the bank’s current strategy and provide a framework for financial planning for both domestic and international investors.