Special conditions for term deposits

Account opening

Accounts can only be opened by persons authorised to represent the company (after contacting VakifBank by email at info.termingeld@vakifbank.at or by telephone on +43-1-512 35 20-514) at the branch in Schubertring 2, 1010.

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 issue instructions to the contrary up to one working day before the maturity date, the deposit will be extended on the maturity date with the same term and at the interest rate applicable at that time.
• No charges or fees are charged for account management.
• The statutory capital gains tax (KESt) is withheld from the interest to be paid out and paid to the tax office.

Interest

• The interest rate on the deposit is fixed for the agreed term.
• The settled interest is available to the customer on his clearing account.

Account closure

• The deposit will be settled and the respective account closed if a written order is received from the customer.
• If the account is closed prematurely, an interest rate of 0.01% will be paid for the term already invested instead of the agreed interest rate.

Forms

General Terms and Conditions

In addition, the General Terms and Conditions of VakifBank International AG.at the branch in Schubertring 2, 1010