Information on the fixed-term deposit account for corporate clients

Special conditions for time deposits

Opening an account

Accounts can only be opened by persons authorised to represent the company (after contacting VakifBank via email at infokoeln@vakifbankde.esme-it.atby telephone on +49 221 280 64 67 0), in our branch office on Alter Markt 54, 50667 Cologne or in our branch, Mainzer Landstraße 69-71, D-60329, Frankfurt am Main  be made in person.

Investment amount

50,000 Euro to 2,000,000 Euro or USD equivalent

Type of deposit and account management

 

• • The deposit is a term deposit with an agreed maturity and a fixed interest rate.

• • Additional payments and partial withdrawals during the term are excluded.

• • The minimum term is 6 months.

• • Unless you give instructions to the contrary up to one working day before the maturity date, the deposit will be renewed on the maturity date with the same maturity and at the interest rate applicable at that time.

• • No charges or fees are charged for account management.
  • The statutory final withholding taxes and, if applicable, church tax are withheld from the interest to be paid out and paid to the tax office if there is no exemption order.

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Interest

 

• • The interest on the deposit is fixed for the agreed term.

• • The settled interest is available to the client on his settlement account.

Account closure

 

• • The deposit is settled and the respective account closed when a written order is received from the client.

• • In the event of early account closure, an interest rate of 0.01% will be paid for the term already invested instead of the agreed interest rate.

General terms and conditions

The following apply in addition General terms and conditions of VakifBank International AG.in the branch office on Alter Markt 54, 50667 Cologne or at the branch on Mainzer Landstraße 69-71, D-60329, Frankfurt am Main.