Time deposit is the deposit with fixed amount of money placed on bank account for the definite period of time with monthly charge and remuneration payment during the whole deposit period.
The main advantages of the deposit:
If you failed to come to the Bank after the expiration of bank deposit agreement, the deposit would be automatically extended for a similar period of time under the same conditions with accrual of interest at the rate applicable on the date of the extension of the agreement.
- Deposit maturity - from 1 to 13 months;
- Minimum deposit amount in the national currency is KGS 1,000, in US dollars – USD 20;
- Accrued interest does not increase the amount of deposit on which interest is accrued;
- Interest payments are made on a monthly basis and/or upon the expiration;
- Acceptance of additional payments is not provided;
- Partial cash withdrawal is not conducted.
Interest rates on fix-term deposits of individuals (pdf)