Features of Time Deposits
- Customers receive deposit revenue at the date of maturity (i.e. upon the termination of the deposit’s term)
- Customers who withdraw any sum of their deposit before the date of maturity will lose interest on the withdrawn part.
- Customers who withdraw all the sum of the deposit before the date of maturity will lose all the interest.
- Customers can add to the sum of their deposit if they wish to do so.
- Term deposit accounts can be opened in any of the following currencies: ILS, USD, JD or Euro.
- Competitive interest rates.
- Range of savings terms – choose from 3, 6, 9, and 12 months.
- Term deposits will be renewed automatically from the date of maturity as per the original terms and conditions.
- Depositors can withdraw any sum of their deposit after consulting with the teller at the bank.
- Bank’s customers targeted for current or saving accounts
- Firms (saving funds and end of service benefits)
- Institutions and associations
Requirements for Receiving the Service.
- Depositor must be 18+ and hold a valid ID.
- The minimum amount for a term deposit is USD 1,000, or Jordanian Dinar 700, or EURO 1,000, or ILS 5,000. There is no maximum amount for term deposits.
- The depositor acknowledges that the rates of interest declared in the bank as of the date of signing the application vary according to the global interest rates and the rates of the local market. The bank shall be bound to the rate interest agreed upon at the time of the deposit assessment only, and upon renewal or re-assessing the deposit another interest rate shall be agreed upon according to the rates declared at the time.
- Submittal of a deposit application at any of the Bank of Palestine branches or offices.