Long – term (time) Investment Deposit Account:

Minimum deposit required for opening long – term (time) investment deposit accounts:

1.  100,000 Rials for One – year investment deposit account

2.  100,000 Rials for Two – year investment deposit account

3.  200,000 Rials for Three – year investment deposit account

4.  500,000 Rials for Four – year investment deposit account

5.  500,000 Rials for Five – year investment deposit account

- Opening time deposit accounts for 1 to 5 year periods is possible.

- Every time investment deposit account holder is given a paper of time investment deposit.

- Withdrawing a portion of deposit before the maturity and without complete cancellation subject to application of the holder considering the conditions of interest adjustment of the withdrawn deposit is possible.

- The interest of time investment deposit account is calculated at the end of each month and is transferred to the account introduced by the holder in the first working day of the next month.

- Payment of interest is as payment on account (Ala – Alhesab) and after the declaration of definite interest rate and in case the definite interest is more than payment on account, the balance of the interest is paid to the account holder.

- If the account is cancelled before 30 days from the opening date , it will earn no interest.

- If the time deposit account is cancelled after 30 days from the opening  date but before 6 months, it is taken as a regular short – term deposit account , and it will gain an interest rate equivalent to 0.5 % less than the interest rate for regular short – term deposit account.

- If the account is cancelled after 6 months and before 1 year from the opening date , it is taken as a special short – term deposit account , and it will earn an interest rate equivalent to 0.5% less than the interest rate for special short – term deposit account (6 – month account).

- If  2 , 3 , 4 , and 5 – year deposit accounts are cancelled after one year and before two years , they are taken as one – year deposit accounts , and they will gain an interest rate equivalent to 0.5% less than the interest rate for one – year deposit account.

- If  3 , 4 , and 5 – year deposit accounts are cancelled after two years and before three years, they are taken as two – year deposit accounts, and they will gain an interest rate equivalent to 0.5% less than the interest rate for two – year deposit account.

- If   4 , and 5 – year deposit accounts are cancelled after three years and before four years, they are taken as three – year deposit accounts , and they will gain an interest  rate equivalent to 0.5% less than the interest rate for three – year deposit account.

- If  a 5 – year deposit account is cancelled after four years and before five years, it is taken as a four – year deposit account , and it will gain an interest rate equivalent to 0.5% less than the interest rate for four – year deposit account .

Interest Rates for long – term (time) investment deposit accounts as payment on account (Ala – Alhesab) :

14% (Per year) for one – year Investment deposit account