Qatar’s QIB unveils ‘Growing Deposit’ feature on its mobile app

Qatar’s QIB unveils ‘Growing Deposit’ feature on its mobile app

Qatar’s leading digital bank, Qatar Islamic Bank (QIB) has launched an innovative new “Growing Deposit”, through its award-winning QIB Mobile App.

Growing Deposit, a first-of-its-kind in Qatar, is a recurring, unique deposit account that allows QIB customers to place an amount of their choice each month and save money with ease.

The new initiative gives more flexibility to the deposit holders as they can choose to place a fixed amount each month for a period ranging from two years to 10 years in Qatari Riyals or US dollars.

According to the statement, “The minimum monthly amount to open a Growing Deposit is QR2,000 or $1,000 and the profit is credited into customers’ accounts at the end of every quarter.”

D Anand

GM – Personal Banking Group

QIB “We are pleased to introduce the new Growing Deposit on our Mobile App, which will offer our customers a new way to enhance their saving habits and grant them attractive profits on their deposits. The Growing Deposit will provide customers an opportunity to build up their savings through regular monthly deposits of a fixed amount over a period of time, and eventually have sufficient funds to achieve their future financial goals. QIB is committed to introducing advanced products, services,