Qatar National Bank Releases New Deposit Rates for Multiple Currencies

Doha: Deposit rates at opening as issued on Tuesday by Qatar National Bank (QNB) are set to reflect the latest financial trends across various currencies, including USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD.

According to Qatar News Agency, the deposit rates issued by QNB demonstrate varying interest rates dependent on both the currency and the duration of the deposit. For USD, the rates range from 3.64338% for a 1-month deposit to 4.03325% for a 12-month deposit. In contrast, the JPY rates start at 0.70000% for a 1-month deposit, increasing to 1.30000% for a 12-month deposit.

For CHF, depositors encounter a negative rate for shorter durations, with -0.17000% for a 1-month deposit, which turns positive at 0.15000% for a 12-month deposit. GBP deposit rates begin at 3.67000% for a 1-month deposit, climbing to 4.48000% for a 12-month deposit.

In the local currency, QAR, rates are set at 4.10000% for deposits ranging from 1 month to 3 months, then slightly decrease to 3.75000% for a 12-month deposit. For SAR, AED, and BHD, the rates fluctuate, with the highest rate observed in SAR for a 1-month deposit at 4.50000% and the lowest in AED for a 1-month deposit at 2.05000%.

These rates provide a comprehensive insight into the current financial landscape and offer depositors a guide to potential returns on their investments over varying timeframes.