December 10, 2022

Six-month EIBOR up to 0.681 % on April 1

ABU DHABI, The six-month interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) booked on April 1st a significant rise to 0.681 pct, exceeding other terms, primarily the one-year EIBOR, which grew to 0.506 pct, according to the Central Bank of the UAE’s figures.

The new hike encourages more investors seeking quick gains in the shortest time possible to utilise this key investment vehicle under the current trying times.

In the meantime, investors purchased AED23 bn in 3-6 month deposits from November 2020 until the end of January, as they proved to be the highest-yield investment tool in comparison to other term deposits.

 

Source: Emirates News Agency