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MY PLAN - Time Deposit

MY PLAN

Product Description

My plan is a saving plan, a term deposit that allows for unlimited number and amount of deposits during the term period without extending the term period or stoping it.

Comparative Advantages

  • UNLIMITED ADDITIONAL DEPOSITED FUNDS IN NUMBER AND AMOUNT
  • 2 options for interest disbursement: monthly or at the end of the term 
  • Secure and stable bank, bank of trust 
  • Account overview using e-banking

Currency

Euro or MKD

Minimal deposit required

100 EUR or 6.000 MKD

The minimal deposit is only set for the initial deposit, when opening the deposit. All the following deposits are unlimited in number and amount.

Term periods

Term deposit on 12, 24, 36, 48 and 60 months

Client category
Residents or non-residents, individuals
Interest disbursment
When opening the deposit the client may choose between two methods of interest disbursment:
  • at the end of period or
  • monthly

Interest rates

 

 

 

Interest calculation methods

When the interest is disbursed at the end of period

The interest is calculated and disbursed at the end of the term and transfered to a different account of the client and the disbursement amount is available for use.  

When the interest is disbursed monthly
The interest is calculated monthly and transfered to a different account of the client and the disbursement amount is available for use.
In this case the client has the interest available after the day of the interest calculation and on the same date monthly

Renewal policy

 

The deposit (the principal) shall be automatically renewed under the terms and conditions valid at the date of the renewal. The client may dispose with the funds at any time, according to the policy for premature deposit withdrawal.

Additional deposits
The client can make unlimited number and value of fund deposits during the term period without extending the term period or stoping it. The additional deposited funds are upgrading the base for interest calculation from the moment of the additional deposited fund until the end of the term.
Policy for term cancelation

The client can cancel the deposit before the agreed period end, at which point SB calculates and disburses sight interest rate calculated until the date of early cancelation and if the deposit is with monthly interest payment corrected amount of interest is reduced from the initial deposit amount.

Authorization

The owner of the deposit has the liberty to authorize another adult to manage the deposit. The authorization can be issued at the moment of the term creation or at any other time.

Documentation required

  • The client is oblidged to identify him/herself during the opening of the account by presenting a valid ID or passport
  • After the deposit is opened the client receives a:

- Contract concerning the deposit and
- A saving book at clients's request

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