Term Deposit Accounts
Attractive interest rates on fixed-term deposits
Term Deposit Accounts at EMBank
A term deposit account offers a secure and stable way to save money, providing stable return on your deposit.
Who Is An Eligible Candidate for a Term Deposit Account?
The business must be a legal entity, such as a corporation, partnership, or limited liability company to apply for a term deposit account. The business must also have a physical address, and a minimum amount deposited into the account.
These criteria are in place to help protect businesses and to ensure that only businesses that are able to commit to a long-term savings plan are able to open an account. By meeting these criteria, businesses are more likely to be able to follow through on their savings goals and earn a higher interest rate on their deposits.
How to Apply for a Term Deposit Account in the EU?
The process of applying for a term deposit account is generally similar to that of applying for a regular savings account. However, there may be some additional requirements to qualify or documents that need to be submitted.
When applying for a term deposit account, businesses will need to provide some basic information about the company. This includes the company name, registered address, and contact details. The business will also need to provide proof of identification, such as a passport or ID card. In some cases, businesses may also be required to provide proof of business registration or incorporation.
Once the required documentation has been submitted, the next step is to choose the type of term deposit account that best suits the business. There are generally two types of accounts available: fixed-term and variable-term. Fixed-term accounts have a set interest rate and term length, while variable-term accounts have an interest rate that can fluctuate over time. Businesses should carefully consider their long-term and short-term needs before choosing an account type.
Once the account has been opened, the business will need to make regular deposits into the account. The amount that needs to be deposited will vary depending on the account terms. Businesses should make sure that they have enough funds available to meet the account’s minimum deposit requirements.
Term deposit accounts can be a great way for businesses to save money. However, it is important to compare different accounts and choose the one that offers the best interest rate and terms. And again, businesses should always make sure that they are able to meet the minimum deposit requirements.
Advantages:
- A simple and convenient way to grow your savings – over time they increase at a fixed annual rate.
- Different interest rates for different periods.
- Favourable savings period – can be short or long.
Conditions:
- Minimum deposit amount € 10,000
- The term of the deposit agreement is from 1 to 60 months
- Interests paid at the end of the term
- withdrawal is not allowed of the deposit without termination of the contract.
“EMBank” term deposit rates:
| Months | Annual interest rate % |
|---|---|
| 3 | 2.05 |
| 6 | 2.05 |
| 9 | 2.15 |
| 12 | 2.25 |
| 24 | 2.00 |
A minimum amount – 500 EUR
What is the process to open a term deposit?
- Fill in the application form.
- You will go through the KYC procedure and a business account will be opened.
- Sign the term deposit agreement, transfer the deposit funds to the business account and the deposit is active.
Please visit Fees and Commissions page to see the applicable fees.
Apply now!
Please provide the required information and we will contact you within 1 working day.
Frequently Asked Questions
How can I open a term deposit account?
To open a term deposit account with EMBank, you must first become a customer of the bank. (Please fill out the form to apply for customer status) (The link will take you to the application form) If you are already an EMBank customer, you must log in to online banking (web or mobile banking) to open a term deposit account.
Once logged in, you will need to:
- Go to the “Accounts” tab
- Select “Term Deposit – New”
- Select the amount and term/maturity date
- Give your consent to enter into a term deposit agreement
- Submit the application after confirming the term deposit agreement
What happens if the term deposit agreement is terminated early?
To terminate the term deposit agreement before the agreed term, please submit a request signed with an electronic signature via email to [email protected]. The agreement will be terminated after 30 calendar days, and the Bank will transfer the deposit amount to the deposit payout account no later than the last day of the aforementioned period. The customer will be paid only the deposit amount; interest will not be paid. If the customer has chosen to receive interest monthly, the deposit amount paid out is reduced by the interest already paid (the amount of interest paid is deducted).
Can I withdraw funds from a term deposit?
Yes, you can withdraw funds at any time, but please note that if you terminate the agreement before the scheduled maturity date, you will not receive interest on the deposit. You can only withdraw the initial deposit amount.
Can I have more than one term deposit account?
Yes, you can have more than one term deposit.
What are the minimum and maximum amounts for a term deposit?
The minimum deposit amount is EUR 10,000, and the maximum is EUR 1 million.
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