Time Deposit Accounts

Time Deposit Accounts

Overview

If you are planning for a future outflow such as your children's education or perhaps a new business project; a product with a fixed maturity date, such as a term deposit, could be a useful investment option.

• Time deposit interest rates are based on the latest money market rates or higher
• Rates are fixed for the term of the deposit.
• The minimum deposit is USD20,000 or currency equivalent
• Available in selected foreign currencies
• The Time Deposit is available for a term of up to 12 months. Longer terms are available on request.
• An Early Termination Fee will apply for early closure of your time deposit.

Features

• A secure investment for your money with high interest rates
• Time-Deposit your money for 1, 2, 3, 6 or 12 months and save as much as you like in a choice of up to 3 currencies (EUR, GBP, USD)
• Available roll-over for existing Time Deposits, for who want to roll-over their capital and/or interest into the same Time Deposit.

Terms

• Interest rates
  Time deposit interest rates are fixed for the entire term of your deposit and are calculated on annual basis per currency. Interest will accrue daily and will be credited only at maturity.
• Making a deposit
  Your deposit must be made by a funds transfer from your personal bank accounts.
• Term
  The term of the Account is as agreed with you on your Account opening, and the maturity date will be the first business Day following the end of that term.
• Early Termination
  If you terminate your Time Deposit before the maturity date, you will incur a charge (except where the account is closed following the death of the account holder). That charge will reflect the cost we reasonably expect to incur at the time you notify us that you will be terminating your Time Deposit, as a result of having to replace your deposit at the rate then available in the market for deposits of that size.