International Bank Launches 5-Year Dollar Deposit with Fixed 4.8% Annual Interest

The International Bank has introduced a new five-year dollar deposit product offering a fixed annual interest rate of 4.8%. The interest is paid out monthly at a rate of 0.4%, providing a consistent monthly income for the duration of the deposit. At the end of the five-year term, depositors will receive their principal investment back in dollars.

According to the bank, the new deposit boasts several advantages, including a high, fixed interest rate for five years, monthly interest payments instead of waiting until maturity, and stability due to the fixed rate. It also offers tax exemption on exchange rate differentials and has no associated fees. The deposit's yield is independent of market conditions.

This product is primarily aimed at customers who hold unused dollar balances and those seeking to supplement their monthly income without touching their principal. Customers can open the deposit through the bank's digital platforms, including its website and mobile app, or by visiting a branch.