Bulgarian-American Credit Bank

Interest rates

Flexible 12-month deposit

The following annual interest rates apply:

During the first 4 months of the deposit term, the Depositor may deposit any amount over the principal and may withdraw amounts for the total amount of 30% from the initially deposited principal, without breaking the deposit terms and without falling under the minimal requested deposit’s balance. Any other transactions are considered as a termination of the deposit contract and the Bank applies the interest rate for current accounts.

The interest is paid on maturity.

At maturity the deposit is automatically rolled over as a Standard 12-month deposit at interest rate valid for the standard 12-month deposit in the respective currency at the date of the renewal.

The promotion is valid for deposits opened till July 31st, 2012 including.

6-month deposit with increasing interest

The following annual interest rates apply:

At the end of each two-month period the deposit can be decreased without breaking of the deposit terms. Any other decrease before maturity on date different than the end of each two-month period is considered as a termination of the deposit contract. At the end of each two-month period the whole deposit can be terminated and the Depositor receives the whole amount of the interest accrued for the respective past periods.

In case of termination of the deposit under conditions different than those set forth in the previous paragraph, the Depositor receives the whole amount of the interest accrued for the past periods as well as the interest for the current period calculated at the interest rate applicable for the past preceding period. In case the deposit is terminated during the first two-month period of the deposit (i.e. before the end of the second month since the opening of the deposit) the Bank applies the interest rate for current accounts.

4-month promotional deposit with advance payment of the interest

The following annual interest rates apply:

The interest is paid in advance upon opening of the deposit on the current account of the Depositor in the currency of the deposit.

At maturity the deposit is automatically rolled over as a Standard 1-month deposit at interest rate valid for the standard 1-month deposit in the respective currency at the date of the renewal.

In case the deposit is terminated prior to maturity the advance paid interest is deducted form the principal of the deposit.

The promotion is valid for deposits opened till May 31st, 2012 including.

Promotional deposit

The following annual interest rates apply:

At maturity the deposit is automatically rolled over as a Standard one with the same term at interest rate valid for the standard deposit in the respective term and currency at the date of the renewal.

In case the deposit is terminated prior to maturity the Bank applies the interest rate for current accounts.

The promotion is valid for deposits opened till July 31st, 2012 including.

Standard deposit

The following annual interest rates apply:

At maturity the deposit is automatically rolled over at the same term at interest rate valid for the standard deposit in the respective term and currency at the date of the renewal.

In case the deposit is terminated prior to maturity the Bank applies the interest rate for current accounts.

For deposits exceeding 30,000 BGN/USD/EUR the interest rates and other details (term, period of interest accruals etc) may be negotiated directly with Treasury Dept on the following telephone numbers: +359-2-8157201 or +359-2-8157202. This option will not be applied for promotional deposits.

Minimum balances for deposits - 500 BGN/EUR/USD

Others

The interest rate on deposits shall be calculated at base 30 interest bearing days per month and 360 days per annum unless otherwise agreed under an agreement in writing entered between the Bank and the Depositor.

The Bulgarian-American Credit Bank AD (“the Bank”) reserves its right to change the above interest rates. The new interest rates for the deposits shall be effectively applicable to the existing deposits starting from the date of the first maturity following the date the change has taken effect. 

The deposits of individuals and legal entities opened with the Bank shall be guaranteed as per the regulations of the Law on Bank Deposit Guarantee according to which the Deposit Insurance Fund shall guarantee the full payment of funds in the deposit accounts, opened in the name of one individual/entity with the Bank regardless of their number and size, up to the amount of BGN 196,000. The above guaranteed amounts shall not be repaid in the case of deposits opened in the name of individuals/entities under preferential interest terms different than the conditions set forth by the Bank in this Interest Rates Term and the General Terms and Conditions of BACB applicable to deposits, which are applicable to all depositors in the Bank.