High-Yield Savings Account
A higher tiered rate for larger balances you do not need every day.
Savings accounts
Build your rainy-day fund, one dinar at a time.
Earn 3.25% p.a. interest on every dinar in the Regular Savings Account, paid every quarter, with your money always within reach.
Applications are not possible: this is a fictional test website.
Key benefits
3.25% p.a. interest
Calculated daily on your balance and credited every quarter.
Start with JOD 50
A small first deposit is all it takes.
Access when you need it
Move money back to your current account instantly in the app.
Automatic saving
Set a monthly standing order on payday and forget about it.
Who it's for
For people who want their savings to grow without locking them away.
- Families building a 3-to-6-month emergency fund
- Young professionals saving for a car or a wedding
- Anyone who keeps spare money in a current account earning nothing
Features
- Interest calculated daily, paid quarterly
- No notice needed to withdraw
- Round-up saving from your debit card
- Monthly standing order from any account
- Linked to the app's savings goals
- Joint accounts available
Rates and figures
| Balance | Interest rate | Paid |
|---|---|---|
| Any balance from JOD 50 | 3.25% p.a. | Quarterly |
Variable rate; the bank may change it with 30 days' notice. Fictional figures for software testing.
Fees and charges
| Monthly maintenance | Free |
|---|---|
| Balance below JOD 50 for 3 months | JOD 1 per month |
| Account closure within 3 months | JOD 5 |
Eligibility
- Aged 18 or over
- Valid national ID or residence permit
- Minimum opening balance JOD 50
Documents you need
- National ID or passport with residence permit
- Proof of address
How to apply
- Open in the app or at a branch
- Choose how much to save each month
- Make your first deposit of JOD 50 or more
- Watch interest arrive every quarter
Frequently asked questions
How is interest calculated?
Daily on the end-of-day balance at 3.25% p.a., added to your account at the end of March, June, September and December.
Can I withdraw at any time?
Yes. There is no notice period and no penalty.
Is the rate fixed?
No. It is a variable rate. We will tell you 30 days before any change.
I prefer not to earn interest. Is there an alternative?
Yes. The Mudaraba Savings Account shares investment profit instead of paying interest.
Can I open one for my child?
Choose the Little Lanterns Youth Savings account, designed for children.
Related products
Term Deposits
Lock your money for 1, 3, 6 or 12 months at a fixed rate.
Mudaraba Savings Account
Share in the bank's investment profits instead of earning interest.
Lanternvale Bank is fictional. Figures are examples for software testing. Products would be subject to local banking regulation.