Want to deposit your savings, but you are not sure what is the best solution for you? We offer you a few simple steps by which you cannot go wrong.
1. Check Bank’s Advertisement
Whether this ad banks broadcast in the media or at the entrance to the branch office, be sure to read every word printed on them. Usually in this part is what is on the edge of the applicable regulations, and you may not find answer. Compare these advertisements with what the bank said on its website. It should not have differences.
2. General Terms and Conditions
In order not to lose time, we recommend the website of the bank to find general terms and conditions and understand them, especially in the part related to time deposits. Notwithstanding the special benefits during the Savings Week, depositing conditions should not differ from those of general business conditions.
3. What Happens if Early Termination of Deposit?
It’s good to know what impact the principal has a premature termination of the term deposit. If it has, it does not say in general terms of business, or commercial, look for a response from the bank. The recommendation is to look for information in written form. This should prevent nasty surprises when you need it time deposits a prior to maturity.
Some banks, in the case of early termination, the equity attributable to the interest savings deposits (“a vista” is the technical term for this type of savings). With regard to the offer of some banks that may have certain percentage of equity before the deadline, it is necessary to complete information bank, what exactly happens with the part to be withdrawn (whether decreases or remains in nominal terms), and what happens to the rest of funds (whether interest remains the same or changes).
4. What Interest is Important for Savings?
Do not forget that all the interest on term deposits annually.
If the offered bank for savings week, stated interest rate on a monthly basis, we suggest that the banking officials look for the level of the interest on an annual basis.
5. Interest rate Variability During Period Term
Before you sign anything, read the contract. It is not good for the client if the bank reserves the right to change the interest rate during the term. It is particularly unfavorable to the variability of interest rates is dependent on the indefinable elements.
6. Check what you are signing
We remind that the banks are obliged to you, before signing made available to the contracts, general conditions, copied in part related to term deposits and deposit schedule.
As for the possibility that the client requires that the period for acceptance of the offer is more than indicated in the draft agreement. We should bear in mind the provisions of the Law on Obligations to offer. It is necessary to ensure that the customer has time to study the terms offered. And also to seek the necessary explanations before he accepts an offer.