Foreign Currency Time Deposits

The Bank takes time deposits in EUR, USD and CHF.

Interest rate will depend on the deposit amount and tenor - the most favorable interest rates will be applied to deposits having the longest tenors.

Interest will be calculated by application of compound method. Nominal interest rate is fixed i.e. may not be changed during the fixed deposit period. Interest will be calculated and paid in the deposit currency.

In the depositor‘s name and for his account, the Bank shall make necessary deductions from the gross accrued interest amount in order to pay the interest income tax in conformity with the Individual Income Tax Law.

Deposit Basic Features

Deposit TypeForeign currency deposit with interest calculation and payment upon maturity
Deposit CurrencyEUR, USD or CHF
Deposit AmountEUR 100.00 min or other currency equivalent
Indexation CriteriaNo indexation
Interest rate (NIR-nominaland EIR effective int.r)Fixed at annual level
Charges borne by the client which are recognized in the moment of publishing, to be applied in EIR calculation15.00% Capital (interest) income tax
Charges borne by the client not recognized in the moment of publishingNo additional charges


Interest rates as of 1.1.2020.:

Term 

Currency

EUR

USD

CHF

NIR

EIR

NIR

EIR

NIR

EIR

At sight

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

1 month

0.10%

0.08%

/

/

/

/

3 months

0.50%

0.42%

0.40%

0.34%

0.01%

0.01%

6 months

0.70%

0.59%

0.80%

0.68%

0.01%

0.01%

9 months

0.90%

0.76%

/

/

/

/

12 months

1.20%

1.02%

1.40%

1.19%

0.01%

0.01%

15 months

1.40%

1.19%

/

/

/

/

18 months

1.40%

1.19%

/

/

/

/

24 months

1.50%

1.28%

1.70%

1.45%

/

/

25 months

1.60%

1.36%

/

/

/

/

36 months

1.80%

1.51%

1.70%

1.45%

/

/


Deposit Cancellation Before Deposit Maturity

In case that the client submits his request for deposit cancelation before maturity, the Bank will pay the deposit amount with interest calculated until the moment of cancellation, by application of the fixed nominal interest rate for sight deposits.

Automatic Time Deposit Renewal

At least 15 days prior to time deposit’s expiration the Bank shall inform the Depositor on terms of deposits renewal with the same period and with interest rate valid on the renewal date. The Depositor is entitled to terminate the Deposit Contract within the period of 30 days from reception of Bank’s notice.

Unless the Depositor terminate the Deposit Contract in 30 days from reception of Bank’s notice, the Deposit shall be considered as automatically renewed for the same period and with the interest rate stated in the Bank’s notice.

Time Deposit may be renewed with or without interest.


Deposit Insurance

ALTA banka complies with the mandatory deposit insurance system governed by the laws of the Republic of Serbia

Detailed information available at www.aod.rs.

Savings data are kept as business secret and ALTA Banka guarantees thieir safety of depositef funds and their availability.
+381 11 2205-671
+381 11 2205-672