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Tribune News Network
Doha
Doha Bank continues to build on its reputation for offering the highest rates of return with the launch of a new premium fixed deposit scheme.
The new scheme offers attractive returns for long-term deposits at a fixed rate of interest assuring customers of a guaranteed return on their money with compounded interests.
The latest in a series of high-interest fixed-rate deposit scheme for Doha Bank depositors, Al Jana 7 offers customers who set aside a sum of QR500,000 (or equivalent in USD or KWD) or more for a minimum of two years, a premium rate of interest that is substantially higher than what is normally available in the market.
Customers can choose from deposit tenures ranging from 2 to 5 years for their Al Jana 7 term deposits.
The interest is fixed at a pre-determined rate thus ensuring depositors are protected against the uncertainty of rate changes. Customer enjoys the benefit of interest being paid or capitaliSed every 6 months.
Due to the longer term nature of the deposits, customers are assured of high returns on their savings, making Al Jana deposits one of the best and safest forms of relatively long term investments.
"Al Jana Series 7 allows customers to earn a stable return on their savings," said Doha Bank CEO R Seetharaman.
"With Al Jana 7, customers have the flexibility of depositing in dollars, riyals or Kuwaiti dinars as per their preference, making it the perfect investment vehicle for those looking for guaranteed high rates of return till maturity. We expect demand for Al Jana 7, which is a limited-time offer, to be as strong as for the previous occasions," he added.
With interest rates that range from 3.50 percent to 3.75 percent for deposits in Qatari Riyal, Al Jana7 offers compounded returns of 18.75 percent for a five-year deposit, 10.95 percent for a 3-year deposit and 7 percent for 2 years.
If that isn't enough, a further value-added benefit awaits Al Jana 7 depositors in the form of a free VISA Infinite credit card with a limit of up to 90 percent of the Al Jana deposit amount with a maximum limit of QR500,000 and up to 2.5 million Doha Miles to enjoy free travel and hotel booking around the world. Al Jana 7 depositors can also avail themselves of a loan from Doha Bank that gives them access to funds up to 90 percent of the value of their deposit at a preferential rate.
