Single Term Deposits
What is this?
Time deposits are a source of capital for the medium to long term funding of the Bank. These accounts are based on agreements between the bank and the depositor for the deposit of a specific amount for a certain period and a certain interest rate. Their duration can be a single day or even, in some cases, surpass a year. At the end of the fixed period, the customer receives the amount deposited plus due interest. Time deposits are also offered in foreign currency.
FEATURES
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Beneficiaries
Beneficiaries of the account may be either legal entities (SA, GP, SP, LTD, NPID, NPDD) or individuals with commercial activity.
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Interest Rate
The rate is negotiable and applies to the entire amount of the deposit. It is defined daily according to the Current Interbank rates Market.
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Interest Charge
Interest income is subject to tax (currently 15%).
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Renewal
Upon its expiry, the time deposit may be renewed in accordance with the instructions of the client. It may be renewed with capitalization of interest or not.
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Early Repayment
There is the possibility of early partial or total repayment, only with the Bank's consent and approval.
