Banif Bank has launched new products to coincide with the Malta Trade Fair, among them a four-year term deposit with a guaranteed interest of four per cent gross per annum if funds are kept till the end of the term.
The Flexible Four Term Deposit allows clients the flexibility to withdraw the money deposited before the end of term without losing any capital. Active bank customers are able to deposit additional funds during the first year of the term, not exceeding the amount of the initial deposit made. A minimum balance of €2,500 is required on opening and the maximum amount held in each account cannot exceed €250,000. The offer closes at the end of July.
A special 15-month term deposit paying 3.5 per cent gross per annum is also on offer.