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