A term deposit is the holding of a specific amount of money, fixed at the date of the deposit agreement, in the bank for a chosen period of time, with the possibility of an increase in the interest rate paid by the bank. The amount of interest and the frequency of payments are determined on the day the deposit is made.

Any person with an account at Urbo Bank can make a term deposit. If you are not yet a customer of our bank, you can become a customer remotely.

You can conclude a deposit agreement in the following ways:

• By visiting the nearest Urbo Bank branch;
• By logging in to the Internet bank.

• Deposits are accepted in Euros (EUR), US Dollars (USD) or British Pounds Sterling (GBP);
• Minimum deposit amount is (EUR/USD/GBP) 100.

Interest is paid at a frequency of your choice:

• Every month (for the previous calendar month);
• Every three calendar months;
• Every six calendar months;
• Yearly;
• At the end of the deposit agreement;

Interest starts to accrue on the day after the deposit is made.

On the last day of the term of the deposit, interest will not be charged.

• Interest starts to accrue on the day after the deposit is made and is not charged for the last day of the deposit term;
• The deposit can be automatically renewed for the same term at the annual interest rate in force at the bank on the renewal date;
• The amount cannot be reduced or increased by additional instalments;
• The deposit is not repayable in instalments before the contractually agreed maturity;
• No interest is payable if the deposit is withdrawn before the due date;
• The depositor must notify the bank in writing or via the Internet Bank at least 5 working days in advance of withdrawing the deposit before the contractual deadline;
• Once the deposit has been placed via the Internet Bank, the depositor has the right to withdraw from the deposit agreement within 14 calendar days from the date of conclusion of the agreement, to change the renewal method, to opt for an automatic renewal or to opt out of it by the end of the fixed term of the deposit.

The detailed information about the terms and conditions of deposit insurance, cases when deposits are not insured and when restrictions on deposit insurance payouts apply, is provided on the website of the public institution "Deposit and Investment Insurance".

For more information you can read here.