Municipal Bank PLC opens deposit accounts to legal entities in BGN and foreign currency - USD, EUR, GBP and CHF, and in other currency - subject to agreement, with the following terms:
- 7 days (with the exception of GBP and CHF);
- 14 days (with the exception of GBP and CHF);
- 1 month;
- 3 months;
- 6 months;
- 12 months.
A term of your choice is possible to set, depending on your specific needs, at an interest rate subject to agreement.
Minimum sum required for opening: equal to the minimum balance required by the Bank for this type of deposit - 500 currency units.
Placing additional amounts: possible at all times without change in the term of the contract and the deposit's interest.
The interest on the deposit, unless otherwise specified, shall be accrued on the maturity date on the basis of 360/360 days. Only the interests on deposits with original term shorter than 30 days shall accrue on the basis of 365/365 days.
On maturity the interest may be:
- Cashed in;
- Placed at a specified account;
- Added to the initially deposited amount. If the deposit is not closed upon expiry of the contracted term, the interest is capitalized, accruing interest on the newly formed amount in this way for the following automatically renewed term.
In case of breaching the negotiated term:
- The Bank shall accrue interest on the deposit equal to 50% of the interest on the current accounts in the respective currency;
- The Bank shall not accrue interest to deposits, when the amounts have remained at the deposits for less than 7 calendar days, as of the deposit opening date.