26. 5. 2010
In a period of decreasing interest rates on savings and term accounts, LBBW Bank CZ comes with an interesting new product offer.
IQ Bonus deposit EUR/CZK: guaranteed structured deposit, a deposit products with attractive additional return. It brings above-average return up to 3.35% p.a. to available funds. This product will be available from 1 June 2010.
IQ Bonus deposit EUR/CZK offers superior appreciation of available funds ensuring guaranteed revenue known in advance with guarantee of min. 100% return on investment and a guarantee in the form of a statutory deposit insurance scheme. In addition to the fixed interest rate of 0.35% p.a., a client can gain attractive additional return, the so-called bonus that is linked to the development of an underlying asset. The underlying asset is in this case the exchange rate EUR/CZK, announced daily by the Czech National Bank (ČNB). The maximum return in one year may be up to 3.35%. IQ Bonus deposit is a suitable alternative to the savings and term deposit.
The product is designed for individual clients: a precondition for buying it is the age of 18 years; valid identity card and a current account with LBBW Bank, which will be provided free of charge (IQ FREE Account).
”This is a product that is designed to be suitable for rather conservative and more experienced clients with an opinion on the EUR/CZK exchange rate development”. Client might, in case of positive development of the EUR/CZK exchange rate, earn up to 3.35% of annual return. In case of adverse development of the EUR/CZK exchange rate, the depositor will not loose his money. The full return of invested funds and fixed interest rate are guaranteed. Thus we bring our clients a secure alternative for their savings appreciation, “explains Henrik Pregel, a Board Member of LBBW Bank.
Detailed information about IQ Bonus deposit:
| Currency: | CZK |
| Minimum deposit: | 100 000 CZK |
| Maximum deposit: | unlimited |
|
Fees for opening and maintenance of the deposit: |
no fees |
| Current account in LBBW Bank: | Yes, will be provided free of charge (IQ FREE Account) |
| Fixed interest rate: | 0,35 % p.a. |
| Bonus:* | 3,0 % p.a. |
| Maximum return: | 3,35 % p.a. |
| Subscription period: | 1.6.2010 - 30.6.2010 |
| Commencement of deposit: | 1.7.2010 |
| Termination of deposit: | 1.7.2011 |
| Settlement of deposit:: | 1.7.2011 |
| Duration of deposit: | 1 year |
Note.: * Bonus will be paid if bonus condition will be fulfilled. Conditions decisive for bonus payment will be specified on www.LBBW.cz after 1. 6. 2010.
Press release for download: IQ Bonus deposit EUR/CZK: Guaranteed structured deposit - new product from LBBW Bank