| Minimum Balance | Annual Fee | Internet Banking | Features | |
|---|---|---|---|---|
Barwa Bank - Thara'a Savings Account
|
Minimum Balance: QAR 10,000 | Annual Fee: QAR 0 | Internet Banking: No | Features: Islamic Banking, Savings Account, No Salary Transfer, Islamic Finance |
Features & Benefits:
- A savings account which pays profit as well as give a chance to become a millionaire
- Minimum balance required to open account and enter in monthly/quarterly draw is QAR10,000
- Every month there are 8 Prizes of 5000, 5 Prizes of 25,000, 1 Prize of QAR25,000 and 1 for QAR50,000
- Every Calendar Quarter there is a bumper cash award of QAR 1000,000
- Monthly Profit Payment
- expected profit rate is 0.15% p.a
- Initial Deposit: QAR10,000
- Monthly and Quarterly Prizes
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
