Term Deposits
Lock your money for 1, 3, 6 or 12 months at a fixed rate.
Savings accounts
Best savings rate in town. Up to 5.05% p.a.
Your spare cash is sleeping in a current account. The High-Yield Savings Account wakes it up with tiered rates that rise as your balance grows, and no fixed term.
Applications are not possible: this is a fictional test website.
Up to 5.05% p.a. on JOD 100,000+: that is better than Dunmarrow Bank's 3.90% p.a.
Key benefits
Rates that climb with you
4.10% p.a. from JOD 5,000, rising to 5.05% p.a. from JOD 100,000.
No lock-in
Unlike a term deposit, your money is never tied up for months.
One free withdrawal a month
Take money out once a month at no cost, and keep the rate.
Interest every month
Interest is credited monthly, so you see it working.
Who it's for
For people holding more cash than they spend.
- Savers with JOD 5,000 or more sitting idle in a current account
- Business owners parking personal profits between investments
- Families holding a house deposit for the next year or two
- Customers comparing rates across banks
Features
- Tiered interest: the whole balance earns the rate of its tier
- Interest calculated daily, credited monthly
- 1 free withdrawal per month; additional withdrawals cost JOD 10
- Instant top-ups from any Lanternvale account
- Rate alerts in the app
- No fixed term
Rates and figures
| Balance | Interest rate |
|---|---|
| JOD 5,000 – 24,999 | 4.10% p.a. |
| JOD 25,000 – 99,999 | 4.60% p.a. |
| JOD 100,000+ | 5.05% p.a. |
Variable rates. Fictional figures for software testing.
| Bank | Top savings rate |
|---|---|
| Lanternvale High-Yield Savings | 5.05% p.a., better than Dunmarrow Bank |
| Dunmarrow Bank savings (fictional competitor) | 3.90% p.a. |
Comparison with a fictional competitor for software testing only.
Fees and charges
| Monthly maintenance | Free |
|---|---|
| Second and further withdrawal in a month | JOD 10 each |
| Balance below JOD 5,000 | Rate drops to 3.25% p.a. until topped up |
Eligibility
- Aged 18 or over
- Minimum opening balance JOD 5,000
- An existing Lanternvale current or salary account to link
Documents you need
- National ID or passport with residence permit
- Proof of address
- Source of funds declaration for deposits above JOD 50,000
How to apply
- Link your current or salary account
- Move JOD 5,000 or more
- See your tier and rate in the app
- Top up any time to reach the next tier
Frequently asked questions
Is the whole balance paid at the higher rate?
Yes. When you reach a tier, your entire balance earns that tier's rate.
What if I make two withdrawals in a month?
The second one costs JOD 10. Your rate is not affected.
Is it really the best rate in town?
This page is a fictional test page. Rates are examples only.
Should I choose this or a term deposit?
Choose High-Yield for flexibility. A 12-month term deposit pays a fixed 5.25% p.a. if you can lock the money away.
Is there a Sharia-compliant version?
Yes. The Wakala Investment Deposit pays an expected profit instead of interest.
Related products
Wakala Investment Deposit
The bank invests your money as your agent for an expected profit.
Mutual Funds
Four professionally managed funds from cautious to growth.
Lanternvale Bank is fictional. Figures are examples for software testing. Products would be subject to local banking regulation.