Raiffeisen Bank 

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Infoline: 800 900 900

Term deposit in a standalone deposit account

A term deposit provides the opportunity to valorise available funds. The money increases and is securely deposited in order to cover your future requirements.

 

Advantages

  • an independent account, i.e. there is no need to hold a current account   
  • better interest rates than a current account
  • different possible periods of notice allowing for the optimally timed utilisation of the financial resources  
  • statutory insurance of deposits
  • no fees for opening and holding the account  
  • all cash and non-cash deposits and withdrawals free of charge
  • free statements of account
  • management of the account by internet and telephone 
  • the deposit can be increased without visiting the bank
  • another authorised person can dispose of the deposit
  • the possibility of arranging individual rates for higher volumes of deposit  

Types of term deposits

  • single term deposit, i.e. a deposit for a fixed period of time         
  • term deposit with renewal, i.e. a deposit which is automatically renewed on the maturity date by a period of time arranged in advance
  • we offer a term account in CZK , USD, EUR, GBP, CHF, SKK and other currencies on the basis of individual agreement
  • you can decide for yourself on the term of the deposit. We offer term deposits with terms of 1 week, 2 weeks, 1 month, 2 months, and 3, 6, 9, 12, 18 and 24 months 

Interest rate

The interest rate depends on the level of the deposit and the maturity term.   

It remains unchanged during the course of the deposit, and is updated depending on the situation on the interbank market, only on the maturity date of the deposit. 

An individual interest rate can be arranged for larger amounts (i.e. upwards of CZK 5 million or its equivalent in a foreign currency).

The current interest rates of term deposits are given in the Raiffeisenbank Summary of Interest Rates (LINK) and are available at all branches of the bank.    

Interest rate applied to term deposits

Interest is credited on the deposit’s maturity date. Depending on the client’s wishes it is either credited to the amount already deposited and thus increases the overall deposit for the next period, or can be credited to a personal account held at RB.        

In the case of term deposits with a maturity term longer than 6 months interest can be credited on a quarterly basis.   

Fees

It makes sense to open a term deposit at our bank since we offer

Opening and managing the account and regular statements free of charge. 

Cash and non-cash deposits and withdrawals free of charge

 

Deposits and withdrawals

  • deposits can be made in cash, by a single non-cash transfer or in the form of a standing order
  • it is possible to make a deposit 5 days at the earliest prior to renewal of the deposit
  • the principal and interest can be withdrawn either in cash or by transfer to an account
  • withdrawals are possible   

Conditions of establishing a deposit account

  • submission of an ID document – valid ID pass or passport  
  • concluding a contract
  • a minimum deposit of CZK 10,000 or its equivalent in a foreign currency

The account is designed for persons older than 15 years. 

Methods of opening a term account  

  • in person at a branch of the bank
  • using internet or telephone banking if you have a personal account with RB  

 

Additional information

  • Pricelist (LINK)
  • General Commercial Terms and Conditions (LINK)
  • Contractual Terms and Conditions Applying to a Term Deposit (LINK)
  • Interest rates (LINK)

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