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FIB review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

FIB pays a fixed rate of 4.5% to 9% on fixed-term deposits from a bank based in Iraq. It suits savers who can leave a deposit of IQD 10,000,000 untouched for 1 to 12, and breaking the deposit early needs bank approval and forfeits interest.

Key facts

Best for
Fixed-rate dinar savings that can sit untouched for 1 to 12.
Headline rate
4.5% to 9%↗
Rate type
Fixed↗
Term
1 to 12 months↗
Minimum deposit
IQD 10,000,000↗
Access terms
Fixed deposit of 1, 3, 6 or 12 months; profit credited monthly or at end of term within one week; breaking the deposit before maturity needs prior bank approval and forfeits part of the interest↗
Monthly fee
IQD 0↗
Account kind
Fixed↗
Legal entity
First Iraqi Bank↗
Headquarters
Iraq↗
Founded
2021↗
Support channels
Email, Phone, Help-centre↗
Pricing model
No monthly fee, Fixed rate
Official website
fib.iq

Facts checked September 26, 2026, 5 sources

Apps and profiles

Elsewhere
facebook.cominstagram.com

Pros and cons

Pros

  • Headline rate of 4.5% to 9% on a fixed account, against a term deposit median of 6%
  • Monthly fee of IQD 0, so the deposit costs nothing to hold month to month
  • Terms of 1 to 12, with profit credited monthly or at the end of the term
  • Regulated by the Central Bank of Iraq, with help by email, phone and a help centre through email, phone and help centre

Cons

  • Access is tight: breaking the deposit before the 1 to 12 term ends needs the bank's approval and forfeits part of the interest
  • A minimum deposit of IQD 10,000,000 puts small savers out of reach
  • Support is limited to email, phone and help centre, so there is no live chat
FIB

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Scored 8.4 / 10 by SumCue.

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Who it suits

  • Savers in Iraq with a lump sum of at least IQD 10,000,000 who can leave it untouched for 1 to 12
  • People who want profit credited monthly rather than waiting for the end of the term
  • Savers who shop term deposits on headline rate and are happy with a fixed commitment

Who should look elsewhere

  • Wise, if an everyday balance matters more than locking money, since FIB commits the deposit for 1 to 12
  • bunq, for the same trade-off: 3.01% is a lower headline rate, and 4.5% to 9% needs the full term to pay off
  • Finteres, if you want a longer commitment, since its rates run 0% to 36%, well past the 1 to 12 term on offer here

The company behind it

The account comes from First Iraqi Bank, a bank founded in 2021 and headquartered in Iraq. Deposits sit with the bank itself rather than with a broker, so the provider holds the savings directly. Support runs through email, phone and help centre, which means help is available by email, by phone and in the help centre, with no live chat listed.

How FIB compares

Where FIB is available

Available
Iraq
Licence in Iraq
Central Bank of Iraq, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does FIB pay on its term deposits?+

FIB pays a headline rate of 4.5% to 9% on a fixed account, with terms running 1 to 12. That covers the full range rather than a single figure, so the rate you get depends on the length of deposit you choose. Profit is credited monthly or at the end of the term.

What is the minimum deposit?+

The minimum deposit is IQD 10,000,000, and the balance has to sit for the full term you pick. The term deposit median minimum in the comparison is €136.88, so this account is aimed at savers holding a lump sum rather than small monthly amounts.

Are there any fees?+

The monthly fee is IQD 0, and the account is sold on a no monthly fee, fixed rate model. So the cost side is simple, with nothing taken each month while the deposit runs. The real cost is the interest you forfeit if you break the deposit before maturity.

Can I get my money back before the term ends?+

Not freely. Breaking the deposit before the 1 to 12 term matures needs prior approval from the bank, and part of the interest is forfeited as a result. Plan for the cash to be committed for the full 1 to 12 and treat the balance as savings you will not touch before then.

Is the bank regulated?+

The account is provided by First Iraqi Bank, which is regulated by the Central Bank of Iraq, and it is held in Iraq. The money sits with the bank as a deposit rather than being pooled into an investment, so it behaves like a bank savings account.

How do I get help?+

Help is available through email, phone and help centre, which covers email, phone and a help centre. Email works for account questions, and the help centre covers the basics of opening a deposit. There is no live chat listed among email, phone and help centre, so phone is the quickest route for anything urgent.

How does the rate compare with other term deposits?+

FIB's range of 4.5% to 9% sits around the term deposit median of 6% and below the upper quartile of 12.2%. Terms of 1 to 12 also match the term deposit median of 12, so the commitment is standard for the category.

Sources

  • fib.iq checked September 26, 2026

    Backs: Headquarters, Licences

    “Address Iraq-Baghdad - AL-Karada”

  • fib.iq/about-us checked September 26, 2026

    Backs: Founded

    “2021 Year of foundation in Iraq”

  • fib.iq/fees-and-charges checked September 26, 2026

    Backs: Legal entity, Pricing model, Monthly fee

    “Fees and Charges of First Iraqi Bank for 2026”

  • fib.iq/how-to-create-account checked September 26, 2026

    Backs: Support channels

    “24/7 Caring Support Team - Got questions or need assistance? Contact us today for prompt and friendly assistance. Looking for Answers? We're Here to Help”

  • fib.iq/term-account checked September 26, 2026

    Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Term

    “If the deposit is broken before maturity, the customer will not earn the full interest that was agreed upon initially. ... In case the deposit is broken, prior approval from the bank must be obtained.”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Deposit protection.

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