Long-term savings account - IRR
A kind of bank deposit opened at the request of individual or corporate clients according to a contract entered into between the bank and the applicant. The client gives the bank power of attorney with the right of substitution, to employ the deposited amounts, in undivided shares, in compliance with the usury-free banking operations law, with the right to compromise, and having deducted the bank’s attorney fee, divide the earnings among the investors proportionate to the term and amount of their deposits in line with the relevant regulations. The holders of such deposits receive a certificate of deposit on which is written the details of the deposit, including amount and term of deposit as well as name and details of the deposit account holder.
| Deposit Account Type | Annual Interest Rate |
| Short-term deposit | 5% |
| Especial 3-month short-term deposit | 12% |
| Especial 6-month short-term deposit | 17% |
| Long-term one-year deposit | 20.5% |
| Long-term two-year deposit | 21.5% |
| Long-term three-year deposit | 22.5% |
Terms and documentation for opening Long-term deposit account
- (Opening deposit accounts for individuals under 18 years of age and legally incapacitated persons is possible in accordance with applicable laws and regulations.) Applicants must be at least 18 years of age or provide a judgment from a competent court declaring them adult,
- presenting the original Birth Certificate and valid National Card, for natural persons,
- Presenting the articles of association or articles of incorporation, the first announcement of company registration printed in the official gazette and the last announcement of company changes published in the official gazette, for legal entities,
- presenting valid job documents such as work permit, commercial card, permanent doctor’s work permit, advocate’s license, certificate of employment and etc. for individual clients,
- submitting valid documents approving the address,
- filling out the application forms,
- providing the minimum required amount for opening a corporate Qard‑al‑Hasanah current account, sufficient to cover the applicable tax stamp duty and related fees.