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Saturday 17, April 2021 10:32
Baghdad / NINA / Al-Rafidain Bank announced that it will raise the interest rate for citizens' saving accounts to 4.5 percent.
The bank’s media office said in a statement 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 in homes, the bank decided to increase the interest rate on savings accounts to 4.5 percent.”
The bank also decided to "increase the interest rate on deposits for a period of six months to become 4.5 percent, increase the interest rate on fixed deposits for a year to 5.5 percent, in addition to increasing the interest rate on deposits for 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." / End8
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