With this type of savings, foreign currency amounts are deposited for a fixed term at considerably higher interest rates than with sight deposits. Fixed-term deposits can be contracted at fixed or variable interest rates. The funds can be made available even before the end of the fixed term; however, in this event the interest income is lower because a lower interest rate will apply – the rate applicable to the elapsed term (with standard savings) or the sight deposit interest rate (with Euro Plus savings).
Minimum amounts to be term deposited by currency:
- 1,000.00 EUR, USD, CHF, CAD
- 2,000.00 AUD
- 5,000.00 SEK, DKK, NOK
- 800.00 GBP
- 100,000.00 JPY
Types of Contracts regarding automatic deposit term renewal:
- Contract with automatic renewal (at a fixed or variable interest rate) – after the expiry of the contracted savings term, the account balance (principal + interest) is automatically fixed deposited for the same term, but at the rate prevailing at the beginning of the new fixed term.
- Contract without automatic renewal (at a fixed interest rate) – after the expiry of the contracted savings term, the principal and the interest are transferred to a sight deposit account.