| Minimum Balance | Annual Fee | Internet Banking | Features | |
|---|---|---|---|---|
QIB Saving Accounts
|
Minimum Balance: QAR 2,000 | Annual Fee: QAR 0 | Internet Banking: No | Features: Phone Banking |
Saving accounts take the form of a call account, allowing for cash deposit and withdrawal. You earn a return based on an average daily balance. The opening of this account automatically authorizes the bank to invest your funds in the Shari'a-compliant Mudaraba investment model.
QIB Saving Accounts Features:
-A return is given to the average daily balance based on sharing of profit and loss -Profit is distributed -You are free to draw from the account at any time -Free e-Statement (Daily, Weekly, Monthly upon your request) -Free Visa Electron card -Free Internet Banking services -Free Mobile Banking (You can download the QIB Mobile app that matches your mobile device) -Free Phone Banking services -You can make transfer funds by standing order -You could apply for card services and investment transactions -You could make all the payment of all installments
Eligibility:
-All ages are eligible to open the Saving account. -Minors can open the accounts through a legal custodian -Minimum deposit of 2000 Qatari riyals in the account
Documents Required:
-You can apply at the nearest branch by filling out a form, supplying your signature (on the signature card) -Copy of your ID (for Locals & Expats) -Copy of Passport (for Expats)
QIB Saving Accounts Features:
-A return is given to the average daily balance based on sharing of profit and loss -Profit is distributed -You are free to draw from the account at any time -Free e-Statement (Daily, Weekly, Monthly upon your request) -Free Visa Electron card -Free Internet Banking services -Free Mobile Banking (You can download the QIB Mobile app that matches your mobile device) -Free Phone Banking services -You can make transfer funds by standing order -You could apply for card services and investment transactions -You could make all the payment of all installments
Eligibility:
-All ages are eligible to open the Saving account. -Minors can open the accounts through a legal custodian -Minimum deposit of 2000 Qatari riyals in the account
Documents Required:
-You can apply at the nearest branch by filling out a form, supplying your signature (on the signature card) -Copy of your ID (for Locals & Expats) -Copy of Passport (for Expats)
** 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.
