|Minimum Balance||Annual Fee||Internet Banking||Features|
|QIB Time Deposit Accounts||Minimum Balance: QAR 10,000||Annual Fee: QAR 0||Internet Banking: No||Features: Sharia Compliant, Deposit Account|
QIB Time Deposit Accounts Features:
- Time Deposits are available in different major currencies such as (QAR, USD, Euro and GBP)
- Option to select the duration of your choice: 1 month, 3 months, 6 months, 1 year, 3 years or 5 years
- Returns are Shari'a-compliant
- High returns on deposits
- Returns distributed quarterly
- Deposit is automatically renewed unless instructed otherwise
- No fees on locking deposit and it remains at disposal
- You may be eligible for bank financing and entitlement to a credit card guaranteed by the deposit
- 3 months: 1%
- 6 months 1.2%
- 12 months 1.25%
- 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.