Term Deposits:-
The bank offers a variety of investment programs by linking short and long term deposits, at competitive rates and accredited rates for the linking period, and in all currencies, along with the possibility of obtaining facilities by the guarantee of linked deposits.
Deposits may be linked according to the currency for a period between the daily, weekly, monthly and annual linking and other periods, where the depositor benefits from the investment and development of his funds, by benefiting from the special and competitive interest rates offered by the bank to its customers.
The term deposits are subject to general conditions for opening accounts, in addition to special conditions for opening term deposits.
Special conditions for the term accounts:-
1- The interest is registered on the account of the customer on the maturity date and according to the linking period
2- Upon maturity, the bank is free to link the amount for another similar period, at the prevailing interest rate or to transfer it to the current account
3- In the event of any additional deposit to the account during the linking period, the bank is free whether to accept the additional deposit in this account or to open a sub-account for this deposit and to link it to the prevailing interest rate
4- The customer authorizes the bank to register on his account any sum that the customer received from the bank in form of bank facilities of any kind whatsoever, and the bank transfers these sums to the account of cash guarantees against banking facilities to guarantee the settlement of the dues by the customer, among the facilities granted to him, in addition to the due debit interests due at the rate that is applied by the bank and any other expenses, provided that the amount remains at the bank until complete settlement of the customer commitments towards the bank
5- If the customer does not honor his commitments to the bank upon the first request of the bank, the customer authorizes the bank to perform the assessment between these commitments and the cash sums seized at the account of cash insurances against banking facilities without having recourse to the customer and with no need for any prior notice or procedures, and the customer may revoke it only upon the written approval of the bank.