Standart Time Deposit

Standard Time deposit 

 

Every individual customer of Tirana Bank, who is registered in the TiBank Platform, can open a term deposit at anytime and anywhere.

 1 - What deposits can you open on the TiBank platform?

On the TiBank platform you can open two types of deposits: Term Deposit and Monthly Income Fixed Deposit.

 2 - What are the criteria to open a deposit on the TiBank platform?

You must be registered on the TiBank platform and have sufficient funds in your account.

If the account is in the name of more than one beneficiary, the opening order for the Term Deposits will be enabled only for the joint account with the option "OR" selected by the beneficiaries according to the rules set out in the account opening documentation.

 3 - What are the characteristics of deposits opened in TiBank?

Term Deposit.

  • The minimum amount required for the Deposit is EUR 1,000/USD; ALL/100,000; GBP 1,000; CHF/1,000.
  • The Deposit holder is entitled to increase the amount of the Deposit (i) by 1 (one) month term only once; and (ii) for a period of three (3) months not more than three (3) times. For Term Deposits with 6, 12 and 25 months, the increase of the amount is not allowed.

Monthly Income Fixed deposit

  •  The minimum required Deposit amount is EUR/1,000; USD/1,000; ALL/100,000. Fixed Deposit does not provide with the opportunity to alter the amount locked in the deposit.
  • The deposit cannot be withdrawn before the deadline by the Deposit holder.
  • The Term of the Deposit is fixed for a period of 12 (twelve) months and shall not be renewed upon its expiration/maturity.

 4 - Can I renew the deposit on the maturity date?

Only the Term Deposit opened at Tirana Bank provides with the opportunity to automatic renewal.

 5 - Can I prematurely withdraw from a deposit account in TiBank?

  • Only Term Deposit opened through the platform can be withdrawn prematurely, only upon physical presence of the client at the Bank.
  • Monthly Income Fixed Deposit does not provide with the opportunity to prematurely withdraw.

 6 - When can you open a term deposit in TiBank?

You can open either of the two types of term deposit accounts on the TiBank platform at any time.

 7 - Are deposits opened at TiBank insured by ASD (Deposit Insurance Agency?

Deposits in Tirana Bank are insured by the Deposit Insurance Agency (www.asd.gov.al) pursuant to law no. 53/2014 "On deposit insurance", amounting to ALL 2,500,000 or the equivalent of this amount in foreign currency.

For further information kindly contact our branches throughout Albania or call InfoBank toll free number 0800 68 68