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National Bank of Iraq review

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

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Our verdict

National Bank of Iraq is a straightforward fixed-rate deposit option for savers in Iraq who want a set return on a lump sum. Interest runs at 2.5% to 6.5% on a fixed account, and the deposit stays reachable, so it suits people parking money rather than trading it.

Key facts

Best for
Fixed-rate savers in Iraq who can meet the minimum deposit and want access to the money.
Headline rate
2.5% to 6.5%↗
Rate type
Fixed↗
Term
1 to 24 months↗
Minimum deposit
IQD 5,000,000↗
Access terms
Direct access to deposited funds; return paid monthly or at end of the period; deposit redeemable at any time↗
Account kind
Fixed↗
Legal entity
National Bank of Iraq↗
Headquarters
Iraq↗
Founded
1995↗
Support channels
Email, Phone, Help-centre↗
Pricing model
Fixed rate
Official website
nbi.iq

Loans

Lender type
Direct lender↗
Loan types
Personal, Secured↗

Credit cards

Rewards type
None↗
Card kind
Credit↗

Debit cards

Card type
Debit↗

Mortgages

Purpose
Purchase↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Get the app
App Store
Elsewhere
LinkedIn

Pros and cons

Pros

  • A fixed rate on the deposit account, so the return does not shift during the term
  • The deposit can be redeemed at any time, which keeps the money reachable
  • A minimum deposit of IQD 5,000,000 sets a clear entry point
  • Support runs by email, phone and help centre, giving more than one way to get help

Cons

  • The fixed account locks in a term of 1 to 24, shorter than the typical 36 in the wider savings category
  • The minimum deposit of IQD 5,000,000 is high against a category median of €0.88
  • The card range carries no rewards, with a rewards type of none
National Bank of Iraq

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Scored 9.1 / 10 by SumCue.

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Who it suits

  • Savers in Iraq who want a fixed return and can meet the IQD 5,000,000 minimum
  • Anyone comfortable treating the deposit as money they will not touch for a set period

Who should look elsewhere

  • People saving small amounts each month, since the minimum is IQD 5,000,000
  • Savers who need their money back immediately, as the account runs for 1 to 24
  • Anyone wanting rewards on everyday spending, where the rewards type is none

Rates and terms

The deposit account pays a fixed rate of 2.5% to 6.5%, so the return is set for the whole period rather than moving with market rates. You can place money for a term of 1 to 24, which lets you match the period to how long you plan to leave the funds. The account is a fixed account, and a minimum deposit of IQD 5,000,000 applies.

How National Bank of Iraq compares

Where National Bank of Iraq is available

Available
Iraq, Saudi Arabia

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

Frequently asked questions

What rate does the National Bank of Iraq deposit account pay?+

The deposit account pays a fixed rate of 2.5% to 6.5%. A fixed account means the return is agreed for the period rather than adjusted, so the figure you start with is the figure you keep.

How long do I have to leave my money in the deposit?+

You choose a term of 1 to 24, so the account can be opened for a short period or a longer one. The account is a fixed account, which is a different shape from the easy-access accounts that make up 92.5% of this category.

What is the minimum deposit I need to open the account?+

The minimum deposit is IQD 5,000,000, which is a high bar compared with the category median of €0. Savers building a balance gradually may prefer a provider with a lower starting point.

Can I withdraw my money before the term ends?+

Yes. The access terms give direct access to the deposited funds, and the deposit is redeemable at any time. The return is paid monthly or at the end of the period, depending on how you set it up.

How do I contact the bank if something goes wrong?+

Support runs by email, phone and help centre, so you can reach the bank by email, by phone or through the help centre. Phone support is the most common route in this category, covering 74.4% of listings.

Is my deposit protected by a compensation scheme?+

The terms do not name a protection scheme, so the coverage on your money is worth confirming with the bank before you commit. Rate ranges in this category run wide, from 0% to 105%, so the 2.5% to 6.5% you are offered should be read as part of that spread.

What is the interest like on the wider savings market?+

The median headline rate across this category is 3.06%, with the middle range sitting between 1.5% and 4.5%. Most listings pay a variable rate rather than a fixed one, so a fixed deal is the less common choice.

Do the bank's cards come with any rewards?+

No. The rewards type is none across the card range, so spending earns nothing back. Cashback and points are the more usual arrangements in this category, and card rewards are not part of the deposit account.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Deposit protection.

National Bank of Iraq

National Bank of Iraq

Fixed-rate savers in Iraq who can meet the minimum deposit and want access to the money.

9.1/10See alternatives