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Flexi Certificate of Deposit

Grow your money with the flexibility of partial withdrawals with Flexi CD and Flexi CD Premium.

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Competitive expected profit rates

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Available in multiple currencies

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Partial redemption allowed

Account details

Profitable growth

  • Profitable growth: Get payouts quarterly and earn high expected profits throughout the entire term.
  • Consistent returns: Continue receiving profits at the expected rate, even after making a partial withdrawal (on the remaining amount).

Flexibility & convenience

  • Flexible withdrawal: Redeem up to 50% of your deposit without any penalty charges.
  • Easy management: Book and redeem a part of your Flexi CD anytime via the QIB Mobile App.
  • Customizable tenure: Choose a term of 1, 2, or 3 years to suit your financial goals.
  • Currency choice: Open your Flexi CD in Qatari Riyal or USD, as per your preference.

Subscription and profit structure

You can open a Flexi CD with one of two subscription options -

  • Premium Flexi CD: Requires a minimum deposit of QAR 500,000 or USD 125,000. You may increase the amount in fixed multiples of QAR 20,000 or USD 5,000.
  • Standard Flexi CD: Requires a minimum deposit of QAR 100,000 or USD 25,000. You can increase the deposit in fixed multiples of QAR 20,000 or USD 5,000. However, the total amount invested cannot exceed QAR 480,000 or USD 120,000.

Expected annual profits for Standard Flexi CD are as follows:

Tenor Expected rate (QAR) Expected rate (USD)
1 Year 3.25% 3.00%
2 Years 3.00% 2.75%
3 Years 2.75% 2.50%

Expected annual profits for Premium Flexi CD are as follows -

Tenor Expected rate (QAR) Expected rate (USD)
1 Year 3.50% 3.25%
2 Years 3.25% 3.00%
3 Years 2.75% 2.75%

General terms

  • Flexi CDs are non-tradable and non-transferable. They are cashable at QIB counters and only payable to the Flexi CD owner.
  • You can open a Flexi CD with 2 minimum subscription amounts as follows:
  • The minimum balance required to open a Flexi Certificate of Deposit Premium is QAR 500,000 or USD 125,000 + multiples of QAR 20,000 or USD 5,000.
  • The minimum balance required to open the Flexi Certificate of Deposit is QAR 100,000 or USD 25,000, and the maximum amount is QAR 480,000 or USD 120,000 + multiples of QAR 20,000 or USD 5,000.
  • Flexi CD duration is for 1, 2, and 3 years.
  • Expected Profit is credited to client's account after quarter ends.
  • In the absence of client's instructions for renewal, the proceeds shall be credited to his/her account at the final maturity date of the Flexi CD.
  • Flexi CD's profit or redeemed value will be paid during the bank's working days. If the maturity date falls on a vacation date, payment will be executed on the next working day.
  • Flexi Certificate of Deposit issuance and Profits calculation shall be after five working days from date of investing in the Flexi Certificate of Deposit.

Shari'a compliance & investment structure

  • Flexi CDs are invested in abidance with Islamic Shari'a regulations, and the bank will act as the Mudareb to invest on behalf of the owner (Rab al Mal) as per the Mudaraba contract, and the fund will be placed in the general deposit pool of the Bank.
  • Share of the Mudareb (QIB) will be 95% and the share of Rab Al Mal (Flexi CD owner) will be 5% as per Mudaraba terms. If the return of the Mudaraba achieves the Expected Profit Rate (EPR), the remainder will serve as an incentive to QIB.
  • Each party is entitled to a share of the profits. The Mudareb may donate part of its share to the Flexi CD owner (Rab Al Mal) in case the share of the Flexi CD owner (Rab Al Mal) is lower than the expected profits.
  • QIB (Mudareb) shall not bear any loss which may arise unintentionally or violation or default. The same shall be solely borne by the customer (capital owner) in case it takes place (God forbid that).
Redemption & early exit
  • In case of redemption, or finance against the pledge of the Flexi CD, the original Flexi CD or replacement (in case of loss) has to be presented.

Early exit from Flexi Certificate of Deposit:

  • Partial redemption will be allowed a maximum of 2 times for the full tenor of the Flexi CD.
  • The total value of both partial redemptions cannot exceed 50% of the original Flexi CD value.
  • No penalty charges for partial redemptions.
  • Quarter-end profit payment will be calculated on the Average balance of the deposits.
  • In case of total redemption, at any time, the current terms and penalty clause will apply on the principal investment amount.

Early exit from Flexi Certificate of Deposit:

  • In case any client wishes to early exit his/her Flexi CDs prior its maturity, and conditioned 6 months has elapsed, the original EPR on the Flexi CDs will not be applied but rather the profits will be based on the period that the client kept his/her money with QIB, and the profit rate will be the profit rate applied for the subject period at the time of breakage of Flexi CD, accordingly QIB will break the Flexi CD and the outcome of the early exit will be the Flexi CD notional amount plus the actual profit rate that was achieved till the period of breakage minus a 0.10% of notional redemption fee.
  • In case of early exit from Flexi CD before a 6-month period, the outcome of the early exit from Flexi CD will be the Flexi CD notional amount minus 0.10% of the notional amount as a redemption fee.
  • In case of redemption before Flexi CD's maturity date, the month on which the redemption takes place will not be calculated.

Financing against CD

  • Financing facilities against this Flexi CD up to (95%) of its nominal value possible at a rate not less than (1.5%) over the applicable Flexi CD profit rate.
  • Financing tenors against the Flexi CDs shall not exceed the tenors of the Flexi CDs.

Bank rights & legal clauses

  • The bank has the right to close the subscription in the Flexi CD's once the objective is reached and as per the bank's discretion.
  • The bank, in future, may issue Flexi CDs under different denominations and conditions as per the bank's discretion.
  • QIB may put aside the deposits transferred to the customer's accounts in case of suspicions inclusive of money laundering, financing terrorism, or terrorist organizations.
  • In case of any dispute arising between the two parties (God forbid that) relating to execution or interpretation hereof, the same shall be settled amicably. But in case of impossibility of that, the matter shall be referred to the competent courts in the State of Qatar to decide on it.

  • Login to the QIB Mobile App to open a Flexi Certificate of Deposit instantly.

Or,

  • Click here to apply for your new Flexi CD account.
  • Visit your nearest QIB branch if you want to open an account through one of our associates.
  • Call 44448444 to get additional information on the Flexi CD or ask about any queries you may have.
Open a Flexi CD in 4 easy steps
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  • Step 1
    Get started
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    Step 1

    Download the QIB Mobile App. Tap “Open a New Account Instantly”. Select “Savings Account”. 

  • Step 2
    Update Personal Information
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    Step 2

    Scan your QID (and passport if expat), review your details and take a quick selfie for verification.

  • Step 3
    Provide your details
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    Step 3

    Update your residence, email, and income information. Capture your signature and choose your preferred branch.

  • Step 4
    Activate your account
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    Step 4

    Enter your name for the Debit Card. Choose a delivery option, fill in the tax declaration form, set your mobile banking login and validate with OTP.

  • Step 1
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    Step 1

    Login to the QIB Mobile App. Tap 'More' on the footer menu. Select 'Apply for Products.'

  • Step 2
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    Step 2

    Tap 'Open Additional Account' under 'Account Products.' Choose ‘Savings Account’.

  • Step 3
    Funding screen showing amount entry field, source account details, and a next button.
    Step 3

    Choose your currency. Select the account to fund your Savings Account. Enter the amount.

  • Step 4
    Confirmation screen displaying account details summary with a confirm and activate button.
    Step 4

    Review all details carefully. Accept the Terms & Conditions. Confirm to open the Savings Account.

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Frequently asked questions

It is a Shari’a-compliant investment that allows flexible withdrawals, delivers quarterly earnings, and directly funds development.

QIB has an expert team that invests funds on your behalf in ventures and projects, generating profits. A part of the profits is paid out to your deposit account till it achieves the Expected Profit Rate.

Standard CD: QAR 100,000 or USD 25,000 (max QAR 480,000 or USD 120,000)

Premium CD: QAR 500,000 or USD 125,000 (in multiples of QAR 2

Profits are calculated quarterly and credited to your account after each quarter ends.

QIB (Mudareb) receives 95%, and the investor (Rab Al Mal) receives 5% of the profits. QIB may donate part of its share if the investor’s share is lower than the Expected Profit Rate.

Yes. You can make up to 2 partial redemptions, not exceeding 50% of the original amount, without penalty.

Yes. You will continue to earn profits on the remaining balance at the expected.