Best Banks to open Fixed Deposit Account in Kuwait

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Which are the best banks to open fixed deposit account in Kuwait?

Below we give details concerning best banks to open a fixed deposit account. The banks are determined based on the interest they award account holders, and operating expenses.

BURGAN BANK

Burgan Bank ranks as the best bank for deposit account holders. The bank is known for giving the best interest rates for fixed account holders. It’s also one of the most stable banks in the country.

Features of the account include:

  • Account can be held in Kuwaiti Dinars or in any other major foreign currency
  • Flexible fixed periods of time available, from as short as one month
  • Minimum balance for account opening is KD 3000 or equivalent
  • Fixed interest rate throughout the deposit term guarantees return
  • Interest accrued daily and paid on maturity date
  • The amount deposited could be mortgaged to benefit from a loan, without losing the interest

BOUBYAN BANK

A customer is required to Invest in Sama Deposit to earn competitive profits with flexible investment terms

Main Benefits:

  • Variable term options of 6, 9, or 12 months
  • Possibility of breaking the deposit before the maturity date without losing the full amount of profits
  • Automatic renewal option is available
  • Deposit is only available in Kuwaiti Dinars
  • Free SMS service
  • Free online banking service to monitor and manage your account

Thousands of customers deposit amounts at Boubyan because it stands out. If you have business that you want to grow, you definitely have to save your profits. Fixed Deposit Account is the most ideal way of saving your money.

GULF BANK

Gulf Bank is mostly preferred because it is a stable bank. Interests offered by their fixed deposit package are attractive.

Benefits of Fixed Deposit Account

  • Attractive interest rates on KWD, USD, GBP and EUR fixed deposits
  • Gulf Bank is offering very competitive rate of interest on Fixed Deposits
  • 100 % secured deposit
  • Interest received can be used for additional investments and returns

Features

  • Opening deposit amount is KD 5,000 or above
  • Available in KD, USD, GBP and Euro currencies

FD : Maturity Interest

 

Days

Deposit Amount (in KD):
5,000 – 49,999 50,000 – 249,999 250,000 – 999,999 1,000,000 – 4,999,999 5,000,000+
<30 Days 1.000% 1.000% 1.000% 1.000% 1.000%
31-90 Days 1.500% 1.500% 1.500% 1.500% 1.500%
91-180 Days 1.625% 1.625% 1.625% 1.625% 1.625%
181-270 Days 1.750% 1.750% 1.750% 1.750% 1.750%
271-359 Days 1.750% 1.750% 1.750% 1.750% 1.750%
360-539 Days 1.875% 1.875% 1.875% 1.875% 1.875%
540-719 Days 1.875% 1.875% 1.875% 1.875% 1.875%
>=720 Days 2.000% 2.000% 2.000% 2.000% 2.000%

FD : Monthly Interest

 

Days

Deposit Amount (in KD):
5,000 – 49,999 50,000 – 249,999 250,000 – 999,999 1,000,000 – 4,999,999 5,000,000+
3 Months 1.625% 1.625% 1.625% 1.625% 1.625%
6 Months 1.750% 1.750% 1.750% 1.750% 1.750%
1 Year 1.875% 1.875% 1.875% 1.875% 1.875%

FD : Interest In Advance

 

Days

Deposit Amount (in KD):
5,000 – 49,999 50,000 – 249,999 250,000 – 999,999 1,000,000 – 4,999,999 5,000,000+
3 Months 1.625% 1.625% 1.625% 1.625% 1.625%
6 Months 1.750% 1.750% 1.750% 1.750% 1.750%
1 Year 1.875% 1.875% 1.875% 1.875% 1.875%

 

JORDAN KUWAIT BANK

Jordan Kuwait Bank has risen to become one of the best banks in Kuwait. Interests offered by the bank are attractive to small and big investors.

Resident and non-resident clients can open Fixed Deposit Accounts in Jordanian Dinars and major foreign currencies at Jordan Kuwait Bank. Interest is calculated on the basis of the daily balance and paid upon its maturity.

Fixed Deposit Accounts at Jordan Kuwait Bank:

  • Can be opened in all major currencies
  • Interest is paid on the basis of the daily balance of the account upon its maturity date
  • Cheque books are not issued for this type of account

DOHA BANK KUWAIT

Benefits

  • Multi Currency Account-Choose the currency that best suits your business needs: KWD, US Dollar, Pounds Sterling or Euro.
  • Auto renewal, so you don’t have to keep track of dates.
  • Fast and efficient processing.
  • Competitive interest rate.
  • Get a Credit Card against your Fixed Deposit.
  • Minimum deposit amount: KWD 1000

BBK

bbkFixed Deposit Account offers one of the brightest interest rates in Bahrain. You can choose to make a deposit from weeks to months and years at a fixed interest rate. Doing this faithfully for aspecific period of time will enable you to support the college education of your child or build your own empire.

Withdrawals or deposits from or to the Fixed Deposit (FD) are not allowed during the term.
However, loans against the FD can be taken without loss of interest. FDs can be made in Bahraini
Dinars or other major currencies.

Features and Benefits

  • Can be maintained in any major international currency, including Bahraini Dinars, Saudi Riyals,
    Kuwaiti Dinars, Omani Riyals, Qatari Riyals, UAE Dirhams, US Dollars, GBP, Euro, Swiss
    Francs and Japanese Yen.
  • Minimum balance required is BD 3,000 or equivalent.
  • Withdrawals or deposits should be at maturity dates.
  • Various choices of Fixed Deposit maintenance from 1 week to 1 year.
  • High interest rates.
  • You can apply for a loan and/or Credit Card against the Fixed Deposit.
  • An excellent way to save! The higher the amount saved, the higher the interest rate you receive.
  • Available to individuals, joint-holders, clubs or associations.
  • Can be opened for minors under the age of 18 by their natural guardian (father or grandfather) or other appointed guardian.

Documents required

  • For Bahrainis:
    Two valid IDs: Original CPR/Smart Card and Passport or Driver’s License.
  • For Non-Bahrainis:
    Original CPR/Smart Card.
    Passport (with Residence Permit for expatriates residing within the GCC).
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