Banif Bank has introduced the Biz Flex Account, a limited term deposit offer aimed at the Bank’s corporate and business customers.

The bank said the Biz Flex Term Deposit Account is available in three, six and 12-month terms and allows full and partial withdrawals during the term, for added flexibility. Customers who avail themselves from the withdrawals prior to maturity can still earn interest on both the amount withdrawn and on the remaining amount kept in the Biz Flex Account. The Biz Flex Account can be opened with a minimum balance of €100,000 at an advantageous rate of 2.625% gross p.a. on a 12-month term deposit denominated in euro.

“What really differentiates this product from others is that it addresses the needs of companies and business people who might have extra funds for a limited time period” said Dirk Spiteri Lucas, Head of Product and Strategy Unit, Banif Bank (Malta) plc.

“Clients need not worry about losing a good business opportunity since they have the peace of mind of using their funds if they need to, no questions asked! This flexibility coupled with the rates associated with term deposits makes this product unique in the market.”