Raiffeisen Bank 

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Infoline: 800 900 900

Time deposits on a deposit account

A time deposit offers attractive interest for your free funds. Your money grows and meanwhile is safely stored to secure your future needs.

Benefits

  • independent account, without the need of having a current account
  • attractive interest rates compared to current accounts
  • flexible maturity dates enabling optimal timing for the use of your funds
  • no fees for establishing or keeping an account
  • management of the account through the internet and by telephone
  • the deposit may be increased without visiting the bank
  • another authorized person may manage the deposit
  • possibility of negotiating individual rates for higher deposit volumes

Types of time deposits

  • one-time time deposit, i.e. a deposit for a fixed period
  • renewable time deposits, i.e. a deposit which automatically renews on the maturity date of the deposit for a previously specified period
  • we offer time deposits in CZK, USD, EUR, GBP, CHF, SKK and other currencies based upon individual agreements
  • you may select the duration of the deposit. We offer time deposits which mature in 1 week, 2 weeks, 1 month, 2 months, 3, 6, 9, 12, 18 and 24 months
Interest rate

The interest rate depends on the amount of the deposit and the maturity date.

During the course of a time deposit the interest rate remains unchanged, the rate is updated depending on developments on the inter-bank market, only on the maturity date of the deposit.

For higher amounts (i.e. more than 5 million CZK or foreign currency equivalent to this amount) it is possible to arrange an individual interest rate.

Current interest rates for time deposits are published in the Overview of Raiffeisenbank interest rates and are available at all bank branches.

Crediting interest

Interest is credited on the maturity date of the deposit. According to the wishes of the client it is either added to the deposited amount thus increasing the overall deposit for a further period, or the interest may be credited to a personal account held at RB.

In the event of time deposits with maturity dates greater than 6 months interest may be credited quarterly.

Fees

Time deposits are worthwhile at our bank because

  • There are no fees to establish and keep an account, and regular statement are free.
  • Cash and non-cash deposits and withdrawals are free
Deposits and withdrawals
  • deposits can be made in cash, by a single non-cash transfer, or in the form of permanent orders
  • deposits may be made no sooner than 5 days before renewing the deposit
  • it is possible to withdraw interest and principal, in cash or by transfer to an account

Conditions for establishment

  • submission of identification – valid citizen‘s ID card, possibly travel documentation
  • a concluded contract
  • a minimum deposit of 10,000 CZK or the equivalent in a foreign currency

The account is intended for citizens over 15 years of age.

Manners of establishment
  • personally when visiting a branch office
  • through internet banking or by telephone, provided that you have a personal account at RB.

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