Banif Bank said today that it is offering a Christmas term deposit at an interest rate of 4.5% gross per annum paid quarterly for a 45-month term.
The bank said its offer built on the success achieved in last year's Christmas deposit scheme.
Both the capital and the interest are guaranteed.
Banif said it is also catering for clients who are interested in medium or short-term deposit account solutions which also pay very advantageous interest rates. As in previous years, clients opening euro-denominated Christmas Term Deposit accounts can opt between accounts that pay interest monthly, quarterly or at maturity. Other Term Deposit account solutions, denominated in pound sterling, US dollar and Australian dollar, are also available.
Clients opting for the 45-month term deposit, who have a credit card, savings scheme, Salary Account or any loan, can also make additional deposits during the first year, subject to minimum deposits of €1,000 each time, up to an amount that equals the opening deposit, and still enjoy the same interest rate.
Dirk Spiteri Lucas, Head of Product Strategy remarked: “Our latest Christmas offering is very much in keeping with one of Banif’s core values - Confidence in building long-lasting relationships with our customers”.
Banif’s Christmas Term Deposit, which is valid until December 31, requires a minimum deposit amount of €2,500 and is subject to certain terms and conditions. www.banif.com.mt