The Bank of Cyprus adds value to its customers' deposits by creating the new 18-month Term Deposit product “Step-Up”. Specifically, the ''Step-Up'' is addressed to adult individuals and businesses and concerns deposits from €100,000 to €500,000, with a graduated interest rate of up to 1.40%.
The product is offered only in euros and carries a higher interest rate, compared to the other deposit products offered by the Bank of Cyprus, which increases incrementally every six months. The interest is calculated based on the interest rate of the specific period. Up to 6 months the interest rate is 0.40%, from 6 to 12 months to 0.90% and from 12 to 18 months the interest rate is 1.40%. The average annual interest rate of the time deposit is 0.90%.
A key advantage of the Step-Up is also the fact that the customer receives the interest every six months automatically in a linked account of the choice of.
The new 18-month “Step-Up'' term deposit product from Bank of Cyprus is offered through the Bank's branches.
For more information, you can contact the Branch Network or on the Bank of Cyprus website.
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