Indexed Term Deposit
Do you have any questions?
Find bellow the most frequently asked
questions about BAI Indexed Deposit.
What is BAI Indexed Deposit?
It is a financial investment with capital indexed to the United States Dollar (USD) that safeguards the deposit from the depreciation of the National Currency (MN), additionally guaranteeing the full protection of capital against the appreciation of the kwanza.
In what currency can the deposit be made?
The deposit must be made only in kwanzas (Kz).
What is the minimum subscription amount?
The minimum amount is 2,500,000 Kz (Two Million, Five Hundred Thousand Kwanzas).
What is the target audience?
Individuals and Companies.
What are the advantages of the BAI Indexed Deposit?
The advantages are:
- Security: Safeguard capital from the depreciation of the National Currency (MN);
- Automatism: Automatic renewal for the same period;
- Profitability: The effective interest rate may be higher than that of traditional term deposits;
- Capital Protection: Guarantees the protection of 100% of the initial capital.
Is early redemption allowed?
It is possible; with total loss of exchange benefits.
Does the product allow reinforcements?
No. Reinforcement is not allowed.
How are interest calculated?
Interest is calculated on the Indexed capital at the end of the investment term and paid into the demand deposit account.
Interest is calculated according to the following formula:
I = Capital * Time * Rate / 365 days
How is the return of capital and interest made?
- If the kwanza depreciates against the dollar, considering the USD / Kz exchange rate on the maturity and start dates, then the capital reimbursement will be at the Revaluation Value at the maturity rate plus interest;
- If the kwanza appreciates against the dollar, considering the USD / Kz exchange rate on the maturity and start dates, then the capital reimbursement will be at the Initial Investment Amount plus interest.
Does this application incur associated costs?
Yes. There is a 10% tax on the calculated interest.
What are the necessary conditions for adhesion to the product?
Membership conditions are:
- Being a BAI Client;
- Filling out the Adhesion Contract;
- Gathering a minimum subscription amount;
- Custody of documents at the Customer Service Desk.
Where should the customer subscribe for the product?
The client must do it at the Corporate Service Centers (CAE ́s).
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For further information contact the nearest BAI branch.