Wednesday May 25, 2022

Citibank’s new term deposit promises you a return

Citibank offers its clients a unique opportunity to evaluate their temporary free pension. The bank called the novelty Structured Term Deposit and is setting it up in two currency versions, the euro and the koruna. Clients lk on your return.

A structured term deposit is nothing but a term term hidden under one contract. For the client, this means that he invests at least 500,000 crowns or 20,000 euros. The bank itself deposited the pension immediately divided into three parts of 20, 30 and 50% with different maturities.

In the case of a koruna deposit, set aside the first 20% for one month, another 30% for three months and the remaining 50% for half a year. For euro deposits is divided the same, only the type of deposit, ie 30% of the deposit, the maturity of the city t msc only two.

You can buy the product here at the bank’s branch, and moreover, provided that you are the owner of the bank here at Citibank (over 500 thousand crowns of the deposit, the bank keeps it for free). If you don’t have to go to this bank, you have to set it up.

Through this account, all transactions take place, ie both deposits on the Structured term deposit and the return of the transfer after the completion of individual so-called tran (deposit). Therefore, you simply do not have to transfer pensions to another bank directly for another term deposit in Citibank.

Only the owner can manipulate it without sanctions

Only the owner of the deposit can dispose of the pension without fines and after the individual deposits have been completed. For example, with 20% of the deposit after one msce. It is not possible to make a first disposition of term deposits in Citibank, perhaps with only one exception. If the pensions are transferred from the one who owns the owner, then this co-ownership also passes to a structured term deposit.

“The client may temporarily terminate one, two or all hundreds at any time at once or gradually, independently of each other. The rest of the deposit b dl. There are no withdrawal of individual tranches of the deposit, ”explains Pavel Vlek, Citibank press release.

Income from the deposit volume of CZK 500,000
Trane deposit Trane volume (%
of the total deposit)
Deposit time years rate
(v % p.a.)
A 20 1 msc 4,00
B 30 3 msce 3,00
C 50 6 msc 0,61
Zdroj: Citibank, pay as of June 11, 2009
Income from the deposit volume of 20,000 euros
Trane deposit Trane volume (%
of the total deposit)
Deposit time years rate
(v % p.a.)
A 20 1 msc 4,00
B 30 2 msce 1,50
C 50 6 msc 0,49
Zdroj: Citibank, pay as of June 15, 2009

However, if you decide to withdraw any of the deposit for early withdrawal, pay a contractual penalty of up to 1% of the principal. The year you receive for the end of the period is determined as the difference between the years of the rate valid on the day of the creation of the deposit corresponding to the deposit and the period for which this deposit was deposited and 1% of the penalty year.

Do not expect reversible inputs

The bank promises a safe and at the same time above-standard appreciation of finances in comparison with the situation when it splits its pensions into three separate term deposits. He points out, in particular, that the euro structured product in euros provides one of the highest years in the Czech banking market.

However, you may have had a survey on the Internet to verify that the day-to-day vision of Citibank’s structured term deposit cannot be expected. You will also find suitable offers on the market.

For example, for a euro deposit with a minimum amount of 20,000 euros, you will get a cumulative year of EUR 52.83 at Citibank (after the first tranche you will receive 13.33 euros, after the second month 15 euros and after the sixth month from the last tranche you will get 24, 50 euros – before rent).

If you want a unified product and see the term of the purchase at Volksbank, you can get the year 56 euros under the same conditions. And even with a far-reaching contribution of individual t – 0.30 and 1% ron (for the first monthly deposit you get 1 euro, for two months 5 euros and for the other 50 euros).

Significantly better results, however, you will achieve a term term deposit with the renewal, which you enter in the crushing Zion Fio. If we keep the same rules this time as well, let’s get a cumulative deposit of 212.03 euros (a year from 3.28 to 3.36% pa and revenues from individual deposits of 10.93 euros per month, for a two-month deposit of 33.10 euros and 168 euros).

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