Doha: Qatar National Bank (QNB) announced the latest deposit rates as of Monday, detailing the interest rates for various currencies across different maturities. The new rates are significant for financial planning and investments, providing insights into the bank's monetary strategy. According to Qatar News Agency, the deposit rates for USD are as follows: 1-month at 4.65200%, 2-months at 4.60315%, 3-months at 4.55429%, 6-months at 4.41198%, and 12-months at 4.19104%. For JPY, rates are notably lower, with a 1-month rate at 0.05000% and progressively lower rates for longer terms, including a negative rate of -0.39000% for 2-months. The CHF deposit rates begin at 0.77000% for 1-month, with a slight decline to 0.60000% over 12-months. GBP deposit rates start at 4.67000% for 1-month and fluctuate slightly across different terms, peaking at 4.74000% for 3-months. In the local currency QAR, the 1-month rate stands at 5.32500%, gradually decreasing to 4.67500% for 12-months. SAR rates start at 5.15000% for 1-mon th and decrease to 5.05000% over 12-months. AED's 1-month rate is 2.05000%, increasing to 3.15000% by 12-months. Meanwhile, the BHD rates are highest at 5.65000% for 1-month but reduce to 4.93000% for a 12-month term. These updates by QNB are crucial for investors and depositors as they strategize their financial plans in the competitive banking sector.
Tuesday, November 05, 2024