Looking for a safe way to increase your surplus funds in Czech crowns? Do you want to know the exact yield on your deposits and when your money will be available for withdrawal? Choose the IQ MAXI Deposit.
What is IQ MAXI Deposit?
The IQ MAXI Deposit is a term deposit that will appreciate your surplus funds during a term of your choice. The IQ MAXI Deposit is a flexible savings solution designed to meet your midterm savings needs over a period of one to five years with no opening or administration fees. It only depends on the term length you choose.
You can close your IQ MAXI Deposit early and have your money available immediately. At the end of the agreed term, you can freely access your funds, including the accrued interest. We offer two variants of the IQ MAXI Deposit, which differ by the interest rate and the conditions for early termination.
Who is the IQ MAXI Deposit designed for?
The IQ MAXI Deposit is intended for private individuals as a secure means for making lump-sum deposits for periods ranging from one to five years.
Information on both variants of the IQ MAXI Deposit:
|Opening and administration:||Free of charge|
|Minimum deposit:||CZK 100.000|
|Deposit currency:||CZK only|
|Term length:||1, 2, 3, 4, or 5 years|
|LBBW Bank current account:||Yes (free of charge)|
|Interest:||Credited at the end of the deposit term|
|Number of deposits per person:||Unlimited|
IQ MAXI Deposit Variant No. 1:
|Interest on any balance:1)||Up to 2.5 % p.a.|
|Early termination fee:||1.25 %3) of deposited sum; interest accrued during the deposit term will be credited.|
IQ MAXI Deposit Variant No. 2:
|Interest on any balance:1)||3.00 % p.a. for a five-year
term - special offer2)
|Early termination fee:||The agreed interest rate will not be paid in the event of early termination of the deposit, only the principal will be paid (i.e. the original sum deposited by the client).|
1) from CZK 100 000
2) This special offer applies to deposits with a maturity period of five years and the option where early termination of a deposit, if applicable, cancels the right to the agreed interest. The Bank reserves the right to extend or cancel the validity of this special offer at any time.
3) In case of termination before the maturity date, a charge of 1.25 % of the principal is applied for deposits made from 14. 6. 2010. For deposits before 14. 6. 2010, there is a penalty fee of 2 % of the deposit.
- Above-average yield (high interest rate)
- No opening and administration fees
- Guaranteed yield on maturity is known in advance
- Safety and security (funds are insured in accordance with the law)
- Current account is offered free of charge
- An unlimited number of deposit accounts can be opened
One advantage is that, if necessary, you can terminate your deposit early. With early termination, you will either lose your entitlement to accrued interest or pay a penalty fee. It depends on what option you chose when opening your term deposit.
Requirements for opening an IQ MAXI Deposit:
- Must be over 18 years of age
- Valid identification
- LBBW Bank current account
- Current interest rates (page 2 of the list of interest rates for Private and Personal Banking)
- Table of Fees and Commissions - IQ MAXI Deposit
How do I obtain an IQ MAXI Deposit?
Call our customer service line at 844 844 822 (8:00 - 19:00 on business days), and our staff will contact you within 24 hours to arrange a personal meeting. You can also visit any LBBW Bank branch selected branches are open at weekends.