BAI Increasing Yield
Do you have any questions?
Find bellow the most frequently asked
questions about Term Deposit Increasing Yield.
What is Increasing Yield?
Increasing Yield is a financial investment, with guaranteed capital, which remunerates the investor at an increasing interest rate, according to defined term echelons.
What is the target audience?
Private Customers and Companies.
What are the main advantages of Increasing Yield?
The advantages are:
- Security: the Bank guarantees the return on invested capital;
- Convenience: interest paid quarterly on the current account;
- Profitability: Rate increasing according to the application term.
In what currencies can deposits be made?
Increasing Yield can be made in Kwanza and US Dolars.
What is the application term?
The application term is up to 12 months, it being parameterized in a number of days, 365 days for Kwanzas and 360 days for Dollars.
Why is interest calculated in Kz 365 days and USD 360 days?
Interest in Kwanza is based on BNA laws for TBC’s and interest in USD is based on international regulatory laws.
Why does the fee table have different term echelons, if the application is for 12 months?
Interest in National Currency (NC) is based on BNA laws for TBC’s and interest in Foreign Currency (FC) is based on international regulatory laws.
How to calculate interest?
Interest is calculated as follows:
I = Capital * Time * Rate / 365 days or 360 (based on the currency chosen)
Example: 90 day echelon: 100.000.00*90*9,50%/365= Kz 23 424,65
How are Interest payments made?
Interest is paid at the end of each echelon in the Customer’s Current Account.
Does this application incur associated costs?
Yes. There is a 10% tax on the calculated interest.
If the customer makes an early redemption, is there any penalty?
Yes. Less than 90 days terms require no payment of interest. To receive interest for the period you are in, you must always complete the respective quarter. If the redemption is in the first period (0-9 days), it does not receive interest, it only receives the capital applied, since in this case there is no previous period.
How can the customer subscribe?
The customer must complete the Model for diverse orders. The Manager / Clerk must inform the customer about all product characteristics; fees, term, method of interest payment and early redemptions. After the operation is done, the customer must bring the slip duly signed, with the description of the Increasing Yield operation.
Can the Client re-apply or give permanent instructions?
Yes, the Client can re-apply, but cannot give Permanent Instructions.
Are the applications made on the DMF or on the Network?
Applications must be made on the Network.
What are the differentiating characteristics compared to other Bank applications?
||Private and Corporate
||Private and Corporate||Private|
|Minimum amount||Minimum Kz 100 000,00 Kz and USD 500,00||Kz 50 000,00 or equivalent in USD||Minimum Kz 30 000,00 Kz and USD 300,00|
||Yes, with interest penalty
||When the beneficiary turns 18|
3rd Month - 9,50%
6th Month - 11,00%
9th Month - 16,00%
12th Month - 20,00%
1st Month - 5,00%
2nd Month - 6,00%
3rd Month - 8,00%
6th Month - 11,00%
12th Month - 13,00%
Luibor 12M + 0,75% a.a.
3rd Month - 2,00%
6th Month - 2,40%
9th Month - 2,75%
12th Month - 4,00%
1st Month - 1,00%
2nd Month - 1,10%
3rd Month - 1,30%
6th Month - 1,90%
12th Month - 2,00%
US 3,25% a.a.
||1,2,3,6 and 12 months
||Until 17 years, depending on the beneficiarys age|
||Sim||Kz 5 000,00 or the equivalent in USD|
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