Introducing our Savings Linked Fixed Deposit Product
Are you looking for an opportunity to secure the highest deposit rates for your savings? Look no further!
With our Savings Linked Fixed Deposit product, you have the chance to enjoy the most competitive rates in the market. But that’s not all – when you maintain a deposit balance in your Al Dana Savings Account, you unlock incredible benefits. Apply Today!
What you can expect
High Deposit Rates: Your savings deserve the best, and with our Fixed Deposit product, you get just that. We offer you the highest interest rates to maximize your savings.
Win Al Dana Prizes: While your Fixed Deposit earns you the highest interest, it gets better! As your Al Dana Savings Account enters you into our Al Dana draw to win incredible prizes, including the chance to become a millionaire in the monthly draws and the grand prize of QR 2 million. Imagine what you could do with that!
Don’t Miss Out
This is your opportunity to not only secure the best rates for your Fixed Deposit, but also to potentially change your life with our Al Dana draw. Don’t miss this chance to make your savings work for you and unlock the possibility of winning millions. Start your journey towards financial success today!
Scheme Details
- Currency : QAR
- Minimum Deposit : QR 500,000 (FD + Savings)
- Maximum Deposit : QR 10 Million (FD + Savings)
- Tenor Period : 3 months and 12 months
- Interest : Paid at maturity
Interest Rate for Fixed Deposit for 1 Year
| Tenor | Below 5M (QR) | >5M – 10M (QR) |
|---|---|---|
| 3 Months | 4.05% | 4.50% |
| 12 Months | 3.69% | 4.10% |
Fixed deposit interest rates are subject to change as per the market conditions.
Minimum Required Savings Amount to be Kept
| Type of Funds | Minimum required savings amount to be kept in the Savings Account from the total deposit |
|---|---|
| New to bank Funds | 10% |
How does Savings Linked FD work?
A Fixed Deposit should be placed for 3 months or 12 months and must be new to bank funds. A minimum savings balance of 10% of the total deposit should be kept and blocked in the Al Dana Savings Account for the fixed deposit period. The interest for Fixed Deposit will be paid at the maturity.
Access to your Cash
Though your funds is tied up for one year, we can provide you liquidity through a loan up to 90% against your Deposit.
Click here to view full Savings Linked FD terms & conditions.
Terms & Conditions for Savings Linked FD Scheme
Deposit can be placed in Qatar Riyal by individual customers as per the interest rate published by the bank.
Fixed Deposit (FD) and Al Dana savings deposit should be placed under the same customer number.
The Fixed Deposit is offered only for 3 months or 12 months period and the interest to be paid at maturity.
Minimum & Maximum Total Deposit (FD + Savings)
- Minimum Total deposit amount is QR 500,000.
- Maximum Total Deposit Amount is QR 10,000,000.
Minimum Required Savings Deposit
Customers must deposit fresh funds (money should not come from an existing Doha Bank account) and 10% of the total deposit (fixed deposit + savings account) amount, must be maintained in the customer’s Al Dana Savings Account. This amount will be blocked until the fixed deposit is matured.
For example : Total Deposit amount is QR 500,000 : QR 50,000 will be maintained in Al Dana Savings Account and QR 450,000 will be booked as Fixed Deposit.
Withdrawal of Minimum Savings Requirement
Customers are not allowed to withdraw the minimum required savings deposit until the fixed deposit has reached maturity.
In case of request to withdraw from blocked savings amount, or from the Fixed Deposit, premature terms and condition of Fixed Deposits will be applied.
Additional Terms
All other terms and conditions related to the Al Dana Savings Account and fixed deposits will be applied and the conditions contained herein are additional conditions and these terms, together with the account opening conditions and Fixed deposits terms and conditions apply to Savings Linked FD scheme (Scheme).
Note:
Doha Bank’s retail, commercial and corporate products are granted at our sole discretion and are subject to the Bank’s terms, conditions and acceptance.