Term deposit

A term deposit is an account designed to appreciate available money. Your finances are advantageously appreciated and at the same time you are not limited, because it provides the option of early withdrawal before the term elapse. You can also choose a term and a currency you want to use for saving. You can of course make additional deposits into the account at any time.


3 reasons to save in a term deposit

  • you will attractively appreciate your money, currently with even more advantageous interest rates
  • no risk involved, your funds are protected by the Deposit Protection Fund
  • guaranteed yield, your deposit pays a fixed interest rate valid throughout the entire term of deposit

Characteristics

  • free opening and maintenance
  • term of 1, 3, 6, 9*, 12, 18*, 24*, 36*, 42* and 48* months
  • saving in EUR or one of five offered foreign currencies - CZK, GBP, CHF, USD, HUF
  • the option to make additional deposits throughout the term; when the initial deposit is due, all additional
  • deposits are merged with the main deposit and are automatically renewed as one deposit
  • deposited money pays interest depending on the balance and the term
  • for deposits exceeding EUR 70,000 it is also possible to open a term deposit with the term shorter than 1 month
  • the minimum deposit to open a term deposit is: EUR 99 or CZK 2,500, GBP 50, CHF 150, USD 100, HUF 40,000
  • all additional deposits have the same maturity date
  • the option to make early withdrawals (for a penalty fee)
* a term deposit with the term of 9, 18, 24, 36, 42 and 48 months can be opened only in the EUR currency

Price list

For information about prices please see the currently valid price list.

Interest rates

Term deposits in EUR

Interest rates valid from 1 January 2015

Term deposit - natural persons - citizens (in % p.a.) up to 1M 1M 3M 6M 9M 12M 18M 24M 36M 42M 48M
new 1) 1 - 69,999.99 0.01 0.01 0.05 0.10 0.10 0.30 0.30 0.40 0.50 0.50 0.60
>= 70,000*
existing 2) 1 - 69,999.99  0.01 0.01 0.05 0.10 0.10 0.30  0.30  0.40  0.50  0.50  0.60
>= 70,000*
Term deposit - natural persons - entrepreneurs and legal persons (in % p.a.) up to 1M 1M 3M 6M 9M 12M 18M 24M 36M 48M
1 - 69,999.99  0.01 0.01 0.05  0.10   0.10  0.30 0.30   0.40  0.50  0.60
>= 70,000*                      
Kombiproduct 7) - natural and legal persons 12M
1 - 14,999.998)  2.00
>= 15,0008)  2.20
* Interest rates are set individually (IUS) at a branch of VÚB a.s.

In the case of early deposit withdrawal, the penalty involves reduction of accrued interest3) on the withdrawn amount on the withdrawal date, but no more than:

  • for 15 days in the case of a deposit with the term up to 1 month (including)
  • for 45 days in the case of a deposit with the term up to 3 months (including)4)
  • for 90 days in the case of a deposit with the term up to 6 months (including)4)
  • for 135 days in the case of a deposit with the term up to 9 months (including)4)
  • for 180 days in the case of a deposit with the term up to 12 months (including)4)
  • for 270 days in the case of a deposit with the term up to 18 months (including)4)
  • for 360 days in the case of a deposit with the term up to 24 months (including)4)
  • for 1,080 days in the case of a deposit with the term up to 36 months (including)5)
  • for 1,260 days in the case of a deposit with the term up to 42 months (including)6)
  • for 1,440 days in the case of a deposit with the term up to 48 months (including)5)
  •  

Additional information

1) New investment means a newly opened 6, 9, 12, 18 and 24-month term deposit from 26 April 2014 with "new money". "New money" is client’s money deposited in a newly opened term deposit which is not transferred from other client’s deposit products at VUB.

2) An existing deposit is a 6 and 24 -month term deposit renewed after 31 August 2012 and a 9, 12 and 18-month term deposit renewed after 30 April 2013.

3) In the case of deposits with the interest rate agreed for more than 1 year, the bank is entitled to deduct the penalty fee for early withdrawal (amounting to gross interest) from the principal, if the interest was credited before there actually was entitlement to the interest.

4) In the case of term deposits opened before 30 November 2012, the penalty for early withdrawal involves loss of accrued interest, i.e. 30 days for the 3M deposit, 60 days for the 6M deposit, 75 days for the 9M deposit, 90 days for the 12M deposit, 100 days for the 18M deposit and 240 days for the 24M deposit.

5) For term deposits with the term of 36M and 48M opened before 31 August 2012, the penalty for early withdrawal involves loss of accrued interest for max. 360 days for the 36M term and max. 540 days for the 48M term.

6) For term deposits with the term of 42M opened before 30 September 2013, the penalty for early withdrawal involves loss of interest for max. 630 days.

7) Combined investment in 12M term deposit in EUR and VUBAM mutual funds (except for Euro Fund, CP Guaranteed Fund I and Bank Deposit Fund). The condition for advantageous interest rate in the term deposits is the minimum investment of EUR 1,000 divided using the 50:50 ratio between the term deposit and a selected VUBAM mutual fund.

8) Deposit amount in the term deposit pays the corresponding interest rate during the first term of the term deposit and represents 50% of the investment in Kombiproduct. After the elapse of the first term of the term deposit, this deposit pays the standard interest rate for a 12 month term deposit. In the case of redemption from mutual funds during the first term of the term deposit, the interest rate will be changed to the interest rate applicable on the day of the term deposit opening.

Term deposits in EUR

Interest rates valid from 1 January 2015

CZK* (in % p.a.) up to 1M 1M  3M  6M**  12M 
2,500 - 1 759,999.99  0.00  0.01 0.15  0.20  0.25 
 >= 1 760,000 ***
GBP* (in % p.a.) up to 1M 1M  3M  6M**  12M 
50 - 55,999.99  0.00  0.10 0.20  0.40  0.60 
>= 56,000 ***
CHF* (in % p.a.) up to 1M 1M  3M  6M**  12M 
150 - 83,999.99  0.00  0.00 0.00  0.00  0.00 
>= 84,000 ***
USD* (in % p.a.) up to 1M 1M  3M  6M**  12M 
100 - 69,999.99  0.00  0.05 0.10  0.20  0.25 
>= 70,000 ***

In case of early withdrawal, the interest on the withdrawn amount is reduced:

  • for 15 days in the case of a deposit with the term up to 1 month (including)
  • for 45 days in the case of a deposit with the term up to 3 months (including)1)
  • for 90 days in the case of a deposit with the term up to 6 months (including)1)
  • for 180 days in the case of a deposit with the term up to 12 months (including)1)

    up to the amount of accrued interest

    At a branch of VÚB, a.s., it is possible to open a term deposit in HUF with the term of 1, 3, 6 or 12 months with the minimum initial deposit of HUF 40 000. * Interest rates for term deposits in HUF are set individually at a branch of VÚB a.s.

    * deposit accounts for the population and legal entities in other FCYs pay credit annual interest of 0.00% p.a
    ** The interest rates are valid also for 9M term deposits not sold anymore.
    *** Interest rates are set individually (IUS) at a branch of VÚB a.s.
    1) In the case of term deposits opened before 30 November 2012, the penalty for early withdrawal involves loss of accrued interest, i.e. 30 days for the 3M deposit, 60 days for the 6M deposit and 90 days for the 12M deposit.

FAQ

What interest is paid on my money during the specified period?

Money in a term deposit is appreciated over the whole period with the same interest rate valid at the date of deposit opening. The interest rate depends on the deposit amount as well as the period for which the money is in the deposit term. The longer the term and the higher the amount, the higher the interest rate.

How can I withdraw the money early?

Money from a term deposit can be withdrawn at any time and it is not necessary to report the withdrawal in advance, unless you are withdrawing a high amount. However, banks charge fees for withdrawals during the term of a deposit. VUB calculates the fee for early withdrawal from the interest accrued on the early withdrawn amount on the date of withdrawal - for example, in the case of one-year deposit, the fee is equal to the interest on the withdrawn amount for 180 days, up to the amount of accrued interest. In practice, this means that if there is for example EUR 5,000 in your one-year term account and you want to withdraw EUR 1,000 after two months of the account opening, you will only lose interest on the withdrawn amount for the two months. If you withdraw the money after 9 months, you will lose interest for 6 months (180 days) and you will keep the remaining interest.




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