The product “TOP DEPOSIT +” offered by CIBANK PLC is a fixed-term deposit where the interest is paid in advance in the current account of the holder on the day of deposit opening.
Currency:
* Bulgarian levs (BGN)
* EURO (EUR)
* U.S. Dollars (USD)
Minimum amount required for opening an account:
* 1 000 (one thousand) BGN
* 500 (five hundred) EUR
* 500 (five hundred) USD
Term:
* 1 month
* 3 months
* 6 months
* 12 months
Interest accrual and interest payment:
Interest shall be charged in advance and paid in a lump sum on the day of deposit opening by transfering the due amount in an account opened at the Bank in the name of deposit account holder.
In case the client fails to dispose of the deposited funds within the agreed term, the contract shall be automatically renewed at maturity, for a new period, equal to the initially agreed one, with the existing at that time interest rate.
Additional depositing/ withdrawal of amounts:
Additional depositing or withdrawal of amounts is not allowed before the maturity of the deposit.
Upon requested withdrawal of amounts on a day, different from the maturity date, the deposit is terminated early and the Bank shall charge less than the agreed annual interest on the deposited amount for the actual number of days stay in the deposit account. The difference between the interest paid in advance and the lower interest charged on the day of early termination of the deposit, shall be deducted from the amount of the deposit prior to its payment.
The sums deposited by the holder and accepted by CIBANK PLC, regardless of their amount and currency, are guaranteed through the Bank’s participation in the Deposit Insurance Fund in Bulgaria, up to BGN 100 000 incl. principal and accrued interest, under the Law on Bank Deposit Guarantee.
Client’s deposits in BGN and in foreign currency in CIBANK EAD regardless of their number and amount of the funds, are guaranteed by the Bulgarian Deposit Insurance Fund for amounts of up to BGN 196 000 in accordance with the Law on Bank Deposit Guarantee.
