The CD interest will only be deposited into your account if you do not make any financial transactions with your CD funds. If any financial transactions are made with your CD funds before your CD matures, your CD interest will be void. Interest is paid out at the time that your chosen CD interest paid option plan ends.

The current Warka Investment Bank CD interest paid option plans are as follows:


-> A 3 month 13% percent interest CD.

--> A 6 month 14% percent interest CD.

---> A 12 month 15% percent interest CD.

----> A 24 month 17% percent interest CD.


Below is the CD request/consent form; copy, paste, or download and print it out. You can download and print the CD (certificate of deposit) request form by clicking the attachment at the bottom of this post. Fill it and signed it. Now scan and save it as a jpg image or pdf file. Attach that jpg or pdf file into your CD request eMail and send it to IFRD@Warka-Bank-Iq.com

Here’s an example eMail for a Warka Investment Bank CD request:


Hello,

Please note that attached to this eMail is a CD (Certificate of Deposit) request/consent form to be applied to my IQD savings account as stated in the attached form.

Thank you,


If you don't have a scanner, please go to your nearest copy/printing shop and they can help you save it onto a disk:


I, _________________________ authorize Warka Investment Bank to withdraw ____________ Dinars from my IQD Savings Account #__________ to open a _____ month _____ percent interest CD (Certificate of Deposit) on my behalf.


Party in full agreement, signed below.



____________________________________ Date_____________
Legal Account Owner & Investor


> Below is an example of how the above CD request form is used:


I, (Your Name) authorize Warka Investment Bank to withdraw (1,000,000) Dinars from my IQD Savings Account #__________ to open a (3) month (13) percent interest CD (Certificate of Deposit) on my behalf.


Party in full agreement, signed below.



_____________(Your Name)____________ Date_____________
Legal Account Owner & Investor

Attached Files

CD (Certificate of Deposit) Request Form.txt (365 Bytes, 141 views)

__________________

Is there any location to determine the current CD rates at Warka? I cannot find this information on the website.

Thanks!!

P.S. Links would be great.

Do i need one of these? i have an account and dinar in it.

__________________
FREE CHANCE TO WIN 10'000 EURO CLICK HERE

In my opinion, and it is only worth 24.3 Dinar, is that you cant go wrong with earning 13%-15% percent interest while you wait. Remember though that you cant touch the money until the end of the CD period. If you put your money in a 2 year you will earn 15%, but you cant touch it for 24 months. If you do, you lose ALL the interest. If you think you will need access to some money, put some in 3 month CD's they will earn 3.25% every 3 months.

Look at this post.
http://www.investorsiraq.com/showthread.php?t=66387
It's the most current note form Mr. I about Cd rates.

does it mean 13 percent every 3 months or every month for the next 3 months......basing it on 3 month cd

CD's are quoted Yearly Percentage Rate (YPR) so it would be 13% if you kept putting it in for a year. It is actually 13%/4 = 3.25% If you have 1,000,000 IQD you would recieve 32,500 Dinar every quarter.

Here is a calculator you can use:
http://www.bankrate.com/brm/calc/cdc/CertDeposit.asp

Thank you James,

I thought that is what this said:
http://www.warka-bank.com/?pid=pages&pageid=52&lan=en

But it is corrupt. I sent an email to Mr. I to report it.

And for all reading..It is NOT a translation page, it is an english version of the page, so it is corrupt.

If this thing R.V.s, do you really care about the interest? Are youy gonna wait 3 months or more to touch your millions. No, you are gonna pull it out and forfeit the %.

At 15% Interest I double my money every 4.8 years. If I had 1 Million, I would have 2 in 4.8 years. I would wait until the end of the period. But that is me.

Can I make a CD with 300,000 IQD and 150 USD that have to be on every account as a minimum balance? Because I don't see any point just having this money on my account not put into a CD...

Does anyone know if the Interest on Warka savings account
is still at 11% annually ? Thanks.

ND

The Current interest is 9% for savings.
CD Rates are:
3 month 10%
6 month 11%
1 Year 12%
http://www.warka-bank.com/inner.php?type=0&id=5 (This is the commissions page if they change the page id) Down at the bottom.

The CD does count as your minimum balance. This came from Mr I.
So, If you have a CD, you can run your savings acct to whatever level you want.
(I just keep enough to cover fees (online etc)

Thanks for the info I AM,

So, with a 3 month CD... Would you earn the 9% + 10% for the duration of a 3 month CD.

My point is that if you sacrifice the 9% just to gain 1% more is it worth the trouble? If there is more to the equation that I might be missing here please, some help out here. Thanks as always.

ND

If I understand you question, If you had a 3 Month CD and did not renew it, you would get 10% APY for 3 months and 9% APY for the remaining 9 Months. If you had 1 Million IQD as above you would receive 92499.99 IQD at the end of 12 Months. (1,000,000*10%)/12 *3 =>CD PLUS (1,000,000*9%)/12 *9.

To Answer you second question, If I had 10,000,000 the difference between 9% and 10% would be 25,000 IQD every 3 Months.


I personally invest in the longest CDs available. Currently 1 year, but last year you could invest in a 17% CD for 24 Months. This is no longer available.

As Stated in a post earlier this year, If I invest in a 12%CD and keep rolling the money over, I will double my investment every 6 years.

Hope this helps!!