Customer benefits from higher interest rate by opening the deposit for a longer tenor
Interest is paid monthly, therefore customer does not have to wait until maturity to receive interest
Secured deposit and interest amount is guaranteed if deposit is held until maturity
Interest rate is fixed for the entire tenor
Competitive rate of interest depending on tenor and deposit amount
The higher the deposit amount and longer the tenor, higher the interest rate
On maturity the deposit is renewed automatically at the prevailing rate of interest
No restriction on maximum deposit amount
Terms Available – 3 months, 6 months, and 12 months
Interest is calculated on a daily basis
Interest is paid on a monthly basis
The principal amount of the deposit is locked in until maturity
If deposit is broken before maturity, all monthly interest amounts that was paid shall be deducted from the principal amount
The term of the deposit cannot be changed until maturity
Available in KWD
KD 5,000.