"Rising Interest Rate" Deposit over a term of 12 months for individuals, with four interest rate periods of three months each, and an increasing interest rate in each subsequent period.
Term: 12 months
Currency: BGN, EUR, USD
Minimum balance: 1000 BGN, EUR, USD
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Interest charged on: The interest on the deposit is charged on the maturity date.
Additional fund deposits: Additional fund deposits are not allowed.
Withdrawals: After the end of each quarterly period, on the date of change of the interest rate, a portion of the deposited amount may be withdrawn without changes in the terms and conditions thereon.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 change of the interest rate, shall be deemed early termination of the deposit (see item „Termination“).
On the maturity date: On the maturity date the deposit is renewed automatically as a 12-month standard deposit at the interest rates applied by the Bank as at the date of the renewal.
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 termination of the deposit as exception of the above situation (not on the maturity date) the Depositor shall receive the total amount of the interest accrued over the past periods and interest charged for the current period, calculated applying the interest rate prevailing during the most recent past period.