Doha Bank Fixed Deposit Interest Rates
The latest interest rates effective from December, 2015, are as follow:
|One month||Three months||Six months||Less than 12 months|
|25,000 – 249,000||0.85%||0.85%||0.85%||1%|
|250,000 – 999,999||0.9%||0.9%||0.9%||1.05%|
|1,000,000 – 2,999,999||0.95%||0.95%||0.95%||1.1%|
The rates are subject to change from time to time depending on the bank’s terms and conditions.
Fixed Deposit Accounts Offered by Doha Bank in the UAE
Doha Bank gives customers with large amount of idle money an opportunity to build up on their savings by investing their money in the Doha Bank Fixed Deposit Account. The Doha bank fixed deposit account lets the customer invest their savings in the account for a certain period of time and pays out interest on the money invested. The customer has the option of opening the account in four types of currencies and can enjoy an overdraft facility that comes with the account.
The bank also offers another kind of fixed deposit account called ‘Upfront Interest fixed deposit account’ apart from the regular one. With this account, the investor can get paid an upfront interest amount before the account attains maturity. This is best suited for individuals who can invest a hefty amount in the account.
Features and Benefits of Doha Bank Fixed Deposit Account
Listed below are the features and benefits of Doha Bank fixed deposit account.
- Doha Bank fixed deposit account acts as a short term saving instrument.
- Allows the customer to build on their savings by investing their idle money in the account.
- Offers an attractive rate of interest on the fixed deposit account.
- The customer can choose from a wide range of flexible tenure options.
- Minimal documentation.
- Easy processing.
- The account can be opened for a tenure as less as one month.
- The overdraft facility allows the customer to enjoy the benefit up to 90% overdraft on the amount deposited so that they can continue earning interest regularly while having access to their funds.
- The customer can give standing instructions regarding the deposit renewal or the bank will automatically renew the deposit when it attains maturity.
Features and Benefits of Upfront Interest Fixed Deposit
- Offers an attractive rate of interest.
- Minimum deposit amount- AED 50,000.
- Interest is paid upfront for the whole tenure.
- Choice of a tenure of 6, 9 or 12 months.
- Loan up to 90% of the amount deposited in the account.
Other products offered by Doha Bank, in the UAE are:
What is a fixed deposit account?
A fixed deposit account is a term deposit account which lets the investor make a fortune from their savings. In a fixed deposit account, the investor deposits a lump sum amount of money for a certain period of time and earns interest on the same. The interest paid depends on the amount of money deposited and the term for which it is deposited. Many banks allow the investor to make premature withdrawals from the account for a penalty charge. The investor can also avail a loan against the fixed deposit account.
About Doha Bank
Doha Bank is one of the biggest bank in the state of Qatar. It was incorporated in 1978 and is one of Qatar’s leading financial service company. The bank offers a wide range of financial services and products including loans, cards, insurance, deposit accounts, etc. The bank has made banking easier for its customers through an extensive network and various access channels.