Why so much difference in Fixed deposit Interest rates?
Hi Can anyone suggest which is the best bank in Qatar to make a Fixed deposit for 6 months. I have just sold my car and need to park money for 6 months before I buy next car.
I also see huge difference in interest rates for same duration - (much higher from Doha bank & Ahlibank while much lower from CBQ/QNB/IBQ)
I dont understand this - the rates at Dohabank/Ahlibank are almost double than other banks! Any possible reasons for such differences? ... THANKS
Think of it this way, if you were broke, you would pay through your teeth to get money from someone to survive, if you were a rick bloke, you would be more conservative in what you are willing to give. Same goes for banks, Doha, Ahli bank are not in great shape and as such are paying through their teeth to get deposits from customers.
As a customer I always play safe and deposit with the respectable banks like CBQ, BNP Paribas.
Rgds,
J.J
Buy Gold instead of depositing money.