Time Deposit Accounts
This is an investment account in which funds are accepted as term deposits with different investment periods. QIB manages and invests the funds on Islamic Mudaraba basis aiming at realizing the best profit for the mutual interest of the parties.The terms of deposit are one month, three months, six months, one year, 3 years and 5 years.
Features & Benefits
- 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
- Click Here to View the Expected Profit Rates
Conditions/Eligibility
Conditions
- All ages are eligible for Time Deposit
- Minors can open accounts through a legal custodian
- Minimum deposit of 10,000 Qatari riyals in the account
Breaking the Deposit
- Partial or full withdrawal of your deposit before the end of term is possible after the reconciliation of returns already distributed during the year. The deposit may be broken after receiving a written request . In case of partially redemption, the withdrawn amount will be credited to your account and at the same time a new deposit is made by the remaining balance upon the same terms as the initial deposit.
Renewal
- If we do not receive instruction to credit the deposit amount to your account at least three days before the expiry of deposit term, the deposit will be automatically renewed for a similar period under the same terms and conditions.
How to get one
- You can apply at the nearest branch by filling the form
- Copy of your ID (for Locals & Expats)
- Copy of Passport (for Expats)
