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Savings Accounts

A Savings Account is a product with which Municipal Bank  collects funds from an individual without a specific term, in a specific currency against the issuing of a personal bank book, granting them the right to receive the agreed interest at the end of each calendar year or upon closure of the Account.

Municipal Bank  opens savings accounts in BGN and foreign currency to local and foreign individuals (not including sole proprietors) and local Groups of Citizens Without BULSTAT Registration. The person in whose name the account is opened is the account holder (depositor).

Upon opening the Account, the account holder is provided with General Terms and Conditions of Savings Accounts and General Terms and Conditions for Single Payment Transactions and Providing Information Related to Them and each movement at the account is reflected in the bank book of the account holder provided by the Bank.

Documents needed for opening:

  • ID/Passport;
  • Sample request for opening a bank account to individuals (the request).

Municipal Bank  opens the following types of Savings Account:

  • Savings Deposit - opened only for the benefit of legal majors in person by the account holder, or a third party;
  • Deposit in Favour of Children - opened for the benefit of an under age or minor individual jointly or severally by his/her parents, and a third party, or personally by a minor individual pursuant to the internal banking regulations on depositing. The disposal of the funds under the deposit may be done in accordance with the legislation in force in the Republic of Bulgaria;
  • Conditional Deposit - opened for the benefit of a legal major, minor, or under age individual, by a third party, the latter stating in the request the condition(s) for the account holder toreceive the amount. The conditions may not run counter to the laws in the country, may not contain ambiguities, that might hamper the payment of the amounts deposited, be connected to business deals, inheritance issues and the like. The conditions may be rescinded by a written request of the party to have made the conditions.

Minimum amount required for opening: : equal to the minimum available balance required by the Bank for this type of deposit as provided under the Bulletin of Interests Accrued by Municipal Bank PLC – Appendix 1 to the Tariff of Terms and Conditions Applied by Municipal Bank PLC for Its Operations (the Tariff).

Payment transactions possible for a Savings Account Only the following exhaustively listed single payment transactions are possible pursuant to the Law on Payment Services and Payment Systems, namely:

  • Depositing cash at the Account;
  • Withdrawing cash from the Account;
  • Credit transfer to another account/deposit opened in the name of the Account holder in the Bank’s system;
  • Credit transfer upon Account closure;
  • Ancillary services (foreign exchange services, etc.).

The Bank makes single payment transactions and provides information on the depositor pursuant to the General Terms and Conditions for Single Payment Transactions and Providing Information Related to Them.

Placing amounts: cash or by a credit transfer, as follows:

  1. At a Savings Deposit – personally by the depositor or a third party;
  2. At a Deposit in Favour of Children – by the lawful representatives of the Account holder or a third party;
  3. At a Conditional Deposit – only by the depositor, who has opened the Account and set the condition.

Withdrawing amounts: in person by the account holder, via a legal representative, or a duly authorised individual, against a Bank book and an identification document. Withdrawal from a Conditional Deposit may de done upon meeting the condition(s), with no need of the depositor's approval, and against a document, certifying the condition(s) has/have been met.

Management and disposing of the amounts at a Conditional Deposit is not allowed to individuals with power of attorney to do so.

The Bank accrues interest on the fundsunder the Savings Account, at the end of the year or upon deposit closure on the basis of 360/360 days. The Bank shall not pay interest on Savings Account, where the funds have remained with the deposit for less than 7 calendar days, as of the deposit opening date.

The Bank does not accrue interest on residual Savings Account balances lower than the minimum available balances required as per the Tariff.

The Bank does not charge opening and placing amounts at Savings Accounts.

The Bank charges for withdrawing amounts in cash and/or making credit transfers from Savings Accounts exceeding a certain level in accordance with the Tariff in force as at the time of collection.

The amounts at the deposits with Municipal Bank PLC are secured by the Deposit Insurance Fund, at the statutory levels. 

De Luxe Plus Demand Deposit

A De Luxe Plus Demand Deposit is a product with which Municipal Bank  collects funds from an individual at special conditions concerning the interest accrual on the accounts kept, without a specific term, in a specific currency against the issuing of a personal bank book, granting them the right to receive the agreed interest at the end of each calendar year or upon closure of the Deposit.

Municipal Bank PLC opens De Luxe Plus Demand Deposits in BGN/EUR/USD to local or foreign individuals having capacity (not including sole proprietors) and local Groups of Citizens Without BULSTAT Registration. The person in whose name the deposit is opened is its holder (the depositor).

Upon creating the deposit the Bank issues a personal bankbook reflecting each movement at the deposit and General Terms and Conditions are presented the depositor, along with General Terms and Conditions for Single Payment Transactions and Providing Information Related to Them and each movement at the account is reflected in the bank book of the account holder provided by the Bank.

Deposit opening: done personally by the account holder or by third parties

Documents needed for opening:

  • ID;
  • Sample request for opening a bank account to individuals.

Minimum amount required for opening: equal to the minimum available balance required by the Bank for this type of deposit as provided under the Bulletin of Interests Accrued by Municipal Bank  – Appendix 1 to the Tariff of Terms and Conditions Applied by Municipal Bank PLC for Its Operations (the Tariff).

Payment transactions possible for a De Luxe Plus Demand Deposit

Only the following exhaustively listed single payment transactions are possible pursuant to the Law on Payment Services and Payment Systems, namely:

  • Depositing cash at the Deposit;
  • Withdrawing cash from the Deposit;
  • Credit transfer to another account/deposit opened in the name of the Account holder in the Bank’s system;
  • Credit transfer upon Deposit closure;
  • Ancillary services (foreign exchange services, etc.).

The Bank makes single payment transactions and provides information on the depositor pursuant to the General Terms and Conditions for Single Payment Transactions and Providing Information Related to Them.

Placing amounts: possible both in cash and via a credittransfer, without limitation on the amount size and number of additional placements.

Withdrawing amounts: in person by the account holder against a bankbook and an identification document, or via a duly authorised individual against presentation of a notarized power of attorney.

Interest on the amount under this Demand Deposit accrues annually on the basis of 360/360 days. Interest is calculated daily for each day the amounts have remained at the Bank, each month being considered as consisting of 30 days and a year of 360 days. The daily De Luxe Plus Deposit balance accrues interest in accordance with a progressive interest scale reaching 0,30 % for BGN, 0.25% for EUR and 0.60% for USD. Depending on the type of currency at the Deposit, the scale consists of six intervals with different interest rates and amounts. With this way of accruing interest, each part of the total balance bears different interest rate in accordance with the interest rate for the respective interval in which the respective part of the balance falls. The Bank shall not pay interest on Demand Deposits, where the funds have remained with the deposit for less than 7 calendar days, as of the deposit opening date. The Bank shall not accrue interest on residual balances at De Luxe Plus Demand Deposits with amounts less than those specified in the Tariff as minimum balances required for opening and maintaining saving deposits. The Bank does not charge opening and placing amounts at the Deposit. The Bank charges for withdrawing amounts in cash from De Luxe Plus Demand Deposit exceeding a certain level and/or for non-cash payments in accordance with the Tariff in force as at the time of collection.

The amounts at the Deposits with Municipal Bank  are secured by the Deposit Insurance Fund, at the statutory levels.

Exchange Rates 19.2.2018

Buy 1.94620
Sell 1.96000
BNB Fixed Rate 1.95583
Buy 1.56380
Sell 1.58780
BNB Fixed Rate 1.56918
Buy 1.66190
Sell 1.73190
BNB Fixed Rate 1.69762
Buy 2.17400
Sell 2.24400
BNB Fixed Rate 2.20244

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02/93 00 181
24/7 telephone No. for our cardholders