Bank of Palestine provides distinguished revenues on savings deposits.The specified term of the savings deposits is 2-5 years.
Features of Savings Deposits
- Customers receive a monthly return on deposits.
- Customers can withdraw a sum of the deposit before the date of maturity without losing the interest on the withdrawn sum. The interest is recalculated according to the publicly declared ordinary brackets of term deposits on the date it was held or on the maturity date whichever is less.
- If a customer withdraws the whole amount before maturity, then the interest will be recalculated according to the regular segments announced to the public on the date it was held or on the maturity date whichever is less.
- Possibility to open a deposit account in three currencies: ILS, USD and JD.
- Special rate on the revenue of savings deposits.
- Commission-free access to online banking and SMS services.
- Customers will be granted a VISA-MasterCard with a deposit security and a credit ceiling 90% of deposit value with a maximum amount of USD 10,000.
- The VISA- MasterCard will be cancelled upon the withdrawal of the deposit.
- The credit card will be permanently exempt for the first year.
- Customers can borrow up to a maximum of 90% of the deposits’ value according to credit policy.
- The longer the term of the deposit the higher the revenue.
- 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/Commodity
- Depositor must be 18+ and hold a valid ID.
- The minimum amount for a savings deposit is USD 10,000 or its equivalent in other currencies.
- 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.
- Customers must have a current or saving account, and they can open a deposit account. The interest will be deducted from the current or savings account.
- Submittal of an application at any of the Bank of Palestine branches or offices.