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Time Deposit Accounts
Characteristics of Time Deposit Accounts:
- Time Deposit Accounts are available in all major currencies, mainly: LBP, USD, and EURO.
- They can be:
- A joint account.
- Opened by individuals or Companies/Institutions.
- Opened by residents or non-residents.
- Opened for minors by their legal guardians.
- Free online and mobile banking.
- No passbook is provided for withdrawing or depositing funds into the account. Instead, the Time Deposit Account holder shall be given an advice specifying the transaction.
- Attractive interest rates are offered, along with the flexibility to choose the maturity date best suited to your needs. The account shall yield interest pursuant to the rate agreed upon. Accrued interest will be added to the capital at maturity date, or in a separate account.
- Time Deposit Accounts are automatically renewable and are available in one, three, six, twelve month periods, or more, depending on your requirements.
- A statement of account is provided every 6 months.
- A summary sheet of last 10 transactions can be provided.
*Final conditions are set in executable agreements and documents.
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