Deposit the money for a fixed period of time and get great interest rates.
· Account can be in SYP, USD, or EURO
· The account balance is fixed (no withdrawals) and the sum is tenured for a specific agreed-upon time period.
· Rates are also fixed.
The minimum is 100,000 SYP or 100,000 USD or75,000 EURO.
· Single or joint account
Features:
· Certificate of deposit
· Withdrawal at maturity only
o If drawn before maturity all accrued interest is forfeited
· Automatic renewal for the deposit (with or without interest) at prevalent interest rate
o Or no renewal and the ability to transfer sum + interest to a current account
§ Written prior instructions required for not renewing (5 days at a minimum before maturity)
