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12/13 Deposit

About the product

Features

  • 12 months deposit term with 13 months interest revenue
  • The customer invests in a 12-month time deposit with a fixed interest rate for the term period, with SB calculating interest for one additional month, i.e. a total for 13 months.
  • The bonus interest is paid to the customer upon the maturity of the deposit, i.e. together with the payment of the interest for the 12th month.
  • When making a time deposit, the customer has the possibility to opt for:
    • Deposit WITH capitalization and monthly accumulation of the accrued interest to the initial deposit allowing higher interest rate or,
    • Deposit WITHOUT capitalization of interest – allows monthly withdrawal of accrued interest
  • Individuals, residents and non-residents
  • 12 months deposit term
  • Currency MKD and EUR
  • Minimum amount of deposit
    • EUR 500
    • MKD 30,000
  • Interest payment method: monthly or at the end of the term

Benefits

  • BONUS INTEREST for one additional month
  • Guaranteed interest rates for the deposit term
  • Safe and stable bank, trusted bank
  • Checking the balance using alternative channels

Authorization

  • The holder of the deposit account may authorize another adult person to operate the account. The authorization may be issued at the time of opening of the deposit account or at any time afterward.

Policy of automatic renewal and cancellation

When concluding the agreement, the customer may opt for:

  • Renewal of the principal (for deposits without capitalization)
  • Renewal of the principal and the interest (for deposits with capitalization)
  • The deposit is renewed under the terms and conditions valid at the date of renewal. The customer may withdraw the funds at any time, in accordance with the policy of early withdrawal of the deposit
  • The depositor may also terminate the agreement prior to the expiration of the deposit term, whereby SB shall calculate and pay sight interest for the period from the opening of the time deposit or its renewal until the moment of early termination of the agreement.

Interest rates

Annual interest rates, guaranteed for the entire term of the deposit

Calculation and payment of interest is done:

  • WITH capitalization
    • Interest is capitalized and added to the deposit whereby the amount of accumulated interest remains on the time deposit account and thereby increases the interest-bearing capital on a monthly basis.
    • In this case, the customer may withdraw the interest upon maturity of the deposit i.e. on the same day upon the expiry of the 12th month
  • WITHOUT capitalization
    • SB calculates monthly interest and transfers it to another account for monthly interest withdrawal.
    • In this case, the customer may withdraw the interest monthly, i.e. on the same day after the day of calculation of interest for the specific month.

Current interest rates are available at the following link.

Documents

  • When opening an account, the customer presents a valid identification document (ID card or passport)
  • After opening the account the customer receives:
    • Deposit account agreement and
    • A passbook at customer's request
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