Deposit
Progresso deposit

Benefits of Progresso Deposit

The Progresso deposit on 1 year or 3 years in LEI, EUR or USD allows you to save money, in accordance with your needs, while benefitting from a progressive interest rate from one interval to the next one, guaranteed by the contract until the end of the period.

_{Note: one interval = 180 days}

- The minimum required amount for opening a deposit is of LEI/EUR/USD 500

- Progressive interest rate in LEI, EUR or USD: the interest rate increases on every interval and it is capitalized at the end of each 180 days interval

- Withdrawing money: In case you need the amount saved before the due date of the deposit (1 year, 3 years), you can withdraw money without losing the interest related to the concluded intervals and the standard current account interest for the on-going interval

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

- The Progresso deposit is available only in BRD branches.

- Interest tax regime

In accordance with the Romanian tax legislation, the Bank is obliged to withhold at source the tax on interests paid to its Private Individuals customers - resident or non-residents for tax purposes in Romania - as well as to its Legal Entities - non-resident for tax purposes. The tax is calculated and withheld at the time of interest payment and subsequently transferred by BRD to the National Tax Administration Agency ("ANAF"). The applicable tax rates are as follows:

- 10% of the gross interest for Individual customers, resident in Romania, in the EU or in countries with which Romania has concluded double taxation conventions;

- 16% of the gross interest rate for clients who do not fall under the above conditions.

Starting with 2023, Individuals may additionally owe CASS (social security health contributions) at the rate of 10% for interest income, if the amount of this income, together with the non-wage income from other activities (e.g. income from self-employment/ intellectual property rights/ other sources/ assignment of the use of assets/ investments - such as dividends, gains from the transfer of securities etc.) exceeds the equivalent of 6 minimum wages (currently). This contribution is paid directly by the Individual beneficiary after the completion and submission of the Single Tax Return on income tax and social contributions directly to ANAF.

BRD does not offer tax advice to its clients, the above details are for general information purposes only. For further details, please contact the tax authorities directly.

Interest calculator

Applied interest rates