Al-Rafidain raises the interest of saving accounts for depositors their money

Al-Rafidain raises the interest of saving accounts for depositors their money

04/17/2021 10:10:32

Al-Rafidain raises the interest of saving accounts for depositors their money{Baghdad: Al Furat News} Today, Saturday, the Rafidain Bank announced that the interest rate for citizens’ savings accounts will be raised to 4.5 percent.

The bank’s media office said in a statement that Al Furat News received a copy of, that “based on the bank’s policy aimed at maximizing revenues in order to attract cash and encourage customers to save their money instead of hoarding it at home, the bank decided to increase the interest rate on savings accounts to 4.5 percent”.

The statement added that “the bank decided to increase the interest rate on deposits for a period of six months to become 4.5 percent, and to increase the interest rate on fixed deposits for a year to be 5.5 percent, in addition to increasing the interest rate on deposits for a period of two years to become 6.5 percent.”

The statement indicated that “the bank decided to pay interest for fixed deposits to be granted in advance, provided that the citizen undertakes not to break it and withdraw it. Otherwise, the interest granted will be deducted from the principal amount of the deposit, and this will be the basis for the comparison between the deposit and the savings account and the customer.”

alforatnews.com