Low-interest facilities up to grabs for long-term depositors

Low-interest facilities up to grabs for long-term depositors

Ayandeh Bank has unveiled a new banking product, Kariz, to provide its long-term depositors with low-interest facilities, its public relations department announced on Monday. 
Customers who have opened long-term accounts after December 11, 2017, are eligible for the plan. 
Customers can receive facilities equal to 20%, 30%, and 40% of their deposits with interest rates of 4.5%, 7%, and 10%, respectively. 
Kariz facilities can be returned either entirely after 12 months or over 24 months. Applicants other than depositors themselves are eligible for the facilities only if confirmed and guaranteed by depositors.