Doha Bank launches new fixed deposit scheme

The main office of Doha Bank Assurance Company.
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 its equivalent in US dollar or Kuwaiti dinar) 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 two to five 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.
Customers enjoy the benefit of interest being paid or capitalised every six 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. With Al Jana 7, customers have the flexibility of depositing in US dollar, Qatari riyals, and Kuwaiti dinar 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,” said Doha Bank CEO Dr R Seetharaman.
With interest rates that range from 3.50% to 3.75% for deposits in Qatari riyal, Al Jana 7 offers compounded returns of 18.75% for a five-year deposit, 10.95% for a three-year deposit, and 7% for two years. 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% of the Al Jana deposit amount with a maximum limit of QR500,000 and up to 2.5mn Doha Miles to enjoy free travel and hotel booking around the world. Al Jana 7 depositors can also avail of an exclusive loan from Doha Bank that gives them access to funds up to 90% of the value of their deposit at a preferential rate.
Sources and photo-credits: Gulf Times