GROWING INTEREST RATE is a deposit account for individuals with a 12-month term, four quarterly interest rate periods and an increasing interest rate in each subsequent period.
Term
12 months
Currency:
BGN, EUR, USD
Minimum balance
1000 BGN, EUR, USD
Interest rates:
| Interest rate period | BGN | EUR | USD |
| First quarterly | 0.20% | 0.20% | 0.10% |
| Second quarterly | 0.30% | 0.30% | 0.20% |
| Third quarterly | 0.80% | 0.80% | 0.60% |
| Fourth quarterly | 2.00% | 2.00% | 2.70% |
Interest accrual
The interest on the deposit is accrued on the maturity date.
Additional deposits
Additional deposits are not allowed
Withdrawals
Upon the end of each quarterly period, on the date of the interest rate change, a portion of the deposited amount may be withdrawn without changes to the terms and conditions thereon. If the date falls on a non-working day, withdrawal is allowed on the first working day thereafter. Other transactions with the deposit, including such on a date other than the date of the interest rate change, shall be deemed early termination of the deposit and conditions for terminations will be applied as described below.
On the maturity date
On the maturity date the deposit is automatically renewed to a 12-month standard deposit with the interest rates applied by BACB as of the renewal date.
Termination
The deposit may be terminated at the end of each quarterly period, whereby the Depositor shall receive the total interest accrued over the respective past periods.
Upon other cases of deposit termination (not on the maturity date) the Depositor shall receive the total interest accrued over the past periods and the interest for the current period, calculated applying the interest rate for the last preceding period.
Fees
No fee is applied for cash transactions on maturity dates. All other transactions are determined according to BACB List of terms and conditions.
Open a deposit
Open your deposit in any BACB office or through the Virtual Bank BACB Plus
