First International Bank Launches 5-Year Dollar Deposit With 4.8% Interest
First International Bank launched a 5-year dollar deposit offering a fixed annual interest rate of 4.8% paid monthly, providing steady income and tax exemptions.
First International Bank announced a major move today (Tuesday) by launching an innovative dollar deposit for a five-year period, paying a high, fixed annual interest rate of 4.8%.
The bank explains that the interest is paid monthly at a rate of 0.4%, effectively providing a steady monthly income throughout the entire five-year lifespan of the deposit. At the end of the five years, the saver also receives the original principal in dollars.
According to the bank, the new deposit offers a range of advantages: a high and fixed interest rate for 5 years, monthly interest payouts without waiting until the end of the term, a steady monthly income, long-term stability, exemption from exchange rate differential taxes, no commissions, and a yield independent of market conditions.
In fact, the new deposit is primarily suited for customers holding unused dollar balances in their accounts for the near term, as well as those wishing to increase their monthly income without touching the principal. Customers can join the deposit digitally via the bank website and app, or through the branches.
