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Progresso deposit

Deposit
Progresso deposit

Progressive interest saving product.

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Increase your earnings progressively!

The PROGRESSO DEPOSIT includes a wide range of banking and extra-banking products and services.

PROGRESSIVE INTEREST RATE

increasing quarterly, guaranteed throughout the agreement period

WITHDRAWING MONEY

you have the possibility to withdraw money without losing the interest for the previous concluded quarters

GRATUITIES

in banking operations

SAFETY

your savings are guaranteed through the Deposit Guarantee Fund for individuals, up to the limit established by the law

Why to have the Progresso deposit?

The Progresso deposit in LEI or USD allows you to save money for three years, while benefitting from a progressive quarterly interest rate, guaranteed by the contract until the end of the period.

For the progresso deposit you have part of:

- Attractive interest rate for savings in LEI or USD: the interest rate increases quarterly and it is capitalized every quarter

- Withdrawing money: In case you need the amount saved before the due date of the deposit (3 years), you withdraw money without losing the interest related to the quarters concluded and the standard current account interest for the quarter

- Free: Most of the banking operations are free of charge: deposit account opening, current account opening (linked to the deposit), deposits and cash collections (except for the inter-banking fees), automatic transfer on the due date

- Automatic transfer: The amounts saved are automatically transferred from the deposit into your current account on the maturity date

Interest revenues: according to the legislation in force, for the revenues resulted from interests (saving products), the Bank has the obligation to calculate, withhold at source and pay to the State Budget the related tax. The applicable withholding tax rate is as follows:

  • 10%*, in the case of revenues obtained from interests by individuals resident in Romania;

  • 10%, in the case of revenues obtained from interests by individuals resident in a country member of the European Union or in a country with which Romania has concluded a Double Tax Treaty; at the same time, in this situation, if the non-resident customer presents a valid certificate of fiscal residence (valid at the date of interest payment), in original or certified copy, accompanied by an authorized translation into Romanian, the more favorable tax rate provided in the Double Tax Treaty becomes applicable;

  • 16%, in the case of individuals resident in a country that does not fall into any of the above-mentioned categories.

*starting with 1st of January 2018

General information note: For incomes obtained from investments realized starting with 2018, the taxpayers determine their tax obligations regarding the social contributions in accordance with the Fiscal Code’s provisions and with the instructions for filling in the 212 Form - Unique declaration on income tax and social contributions payable by Individuals. To establish your situation, please contact the Tax Administration office to which you belong.

Interest rates

See the list of commissions download
See the list of interest rates download

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