Term Deposit

Account Opening and Eligibility

• The Term Deposit Account is available in Iraqi Dinar (IQD), US Dollars (USD), or Euros (EUR).
• The account is open to individuals, local and foreign companies, NGOs, and public and private institutions.
• A minimum deposit requirement of 3,000,000 IQD, $2,000, or €2,000 is mandatory.

Account Features

• Deposits can be made for fixed terms of 6, 12, or 24 months, earning competitive interest rates.
• Interest is credited at the end of the deposit term to either a current or savings account, based on the account holder's preference.
• Deposits are automatically renewed upon maturity unless otherwise instructed.
• Additional cash deposits can be made during the savings term, increasing the balance and potential returns.
• Withdrawals are allowed during the term but will result in the loss of any accumulated interest.

Fees and Charges

• No fees for account opening or maintenance.
• Withdrawal of funds before maturity may incur penalties, including the forfeiture of interest earned.

Account Management

24/7 account management is available through:

• Online banking and mobile app.
• SMS banking for real-time transaction updates.
• A network of ATMs.

Customer Obligations

• Customers must ensure all account details provided during the application are accurate.
• Updates to personal or business information (e.g., address or contact details) must be promptly communicated to the bank.

Bank's Rights

• The bank reserves the right to modify terms, interest rates, and conditions with prior notice, in accordance with regulatory guidelines.
• If the account balance falls below the minimum deposit requirement due to partial withdrawals, the account may be closed, or the interest rate adjusted.

Termination of Account

• Customers may close their Term Deposit Account at the end of the fixed term or by providing written notice to the bank.
• Early termination of the account before maturity will result in the forfeiture of accumulated interest.

Governing Laws

• The laws of Iraq and the Kurdistan Regional Government govern term deposit accounts.

Contact Us

For inquiries or further assistance, visit your nearest RTB branch or contact us:

• Phone: 0662110010
• Email: info@rtb.iq