Compare Bank Deposit Rates in Saudi Arabia

The Saudi Arabian economy with a population of 27 Million (Est 2010) ranks 23rd in the world with a GDP PPP of 622 billion and GDP PPP per capita of 23,826 vs 47,284 (United States) according to the IMF in 2010. Its currency is the Saudi Riyal (SAR). Bank deposits held for a fixed term in Saudi Arabia are called time deposits. According to CIA.gov the inflation was 5.1% in 2009 and 5.7% in 2010.

Bank Deposit Accounts in Saudi Arabia

Savings Account Account Details Currency Intro Rate p.a.

Riyad Bank Savings Account

The interest rates below are in the Saudi Riyal currency and are available to local Saudis as well as expatriates.

Balance                                             Interest Rate

From 0 to SR 1499                                  0%

Greater then SR 1499 to SR 25,000           1%

Greater then SR 25,000                            1.5%


SAR1.50%Oct, 2014