Doha: Deposit rates at opening as issued on Tuesday by Qatar National Bank (QNB) reveal the latest interest rates for various currencies including USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD. These rates are crucial for investors and account holders looking to maximize returns on their deposits over different time periods ranging from one month to twelve months.
According to Qatar News Agency, the deposit rates for the US Dollar (USD) start at 3.62123% for one month and increase to 3.82572% for a twelve-month deposit. The Japanese Yen (JPY) remains stable at 0.70000% for one and two-month deposits, with a slight increase to 1.17000% for twelve months. In contrast, the Swiss Franc (CHF) shows negative rates for shorter terms, with a rate of -0.16000% for one month, improving to a positive 0.15000% for a twelve-month term. The British Pound (GBP) shows a steady climb from 3.65000% for a one-month deposit to 4.45000% over twelve months.
For local currencies, the Qatari Riyal (QAR) starts at 4.05140% for a one-month term, with a slight decrease to 3.95000% for a twelve-month deposit. The Saudi Riyal (SAR) offers a consistent rate of around 4.30000% for two to twelve-month terms, with a slight peak at 4.50000% for a one-month deposit. The United Arab Emirates Dirham (AED) starts lower at 2.05000% for one month and gradually increases to 3.15000% for a twelve-month term. The Bahraini Dinar (BHD) offers high rates at the start with 4.60000% for one month, decreasing to 4.10000% for twelve months.
These rates are pivotal for financial planning and decision-making for both individuals and businesses in Qatar and the region, providing insight into the potential returns on their deposits with Qatar National Bank.