Short-Term Deposits Top Bank Maskan Resources

Bank Maskan, the agent bank of Iran’s housing sector, has released the latest report on its resources and expenses, indicating that its customers mostly favor short-term deposits.
According to a report published on HIBNA, the official news outlet of the state-run lender, 62% of all the deposits made with the bank by the end of the fourth month of the current fiscal year on July 22 were short-term deposits with maturity periods of less than one year.
Naturally, short-term deposits legally yield lower interests than their long-term counterparts that need to be entrusted with the bank for a year. 
“The high share of short-term deposits leads to a decrease in expenses when it comes to offering deposit interest rates,” the report said.