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Term Deposit Sample Clauses

Term Deposit. 10.2.1 A term deposit limits the access of the depositor to the funds placed in the deposit account for the period determined by the agreement. The depositor cannot withdraw the amount or add to the initial balance. 10.2.2 The interest rate is accrued on the balance existing in the deposit account. 10.2.3 The interest rate accrued on the term deposit is transferred to the respective account at the beginning of the term, monthly or at the end of the term of the deposit, commensurate with the deposit agreement executed between the depositor and the Bank. 10.2.4 The Bank is authorized not to allow withdrawal of the deposit amount or its part by the depositor prior to expiry of the effective term of the deposit, unless otherwise established by the relevant agreement. 10.2.5 In the event the depositor requests return of the deposit prior to the expiry of the effective term of the deposit and the Bank does not exercise the authority determined in clause 10.2.4., the interest rate shall be accrued on the deposit according to a different (reduced) interest rate determined by the respective agreement. Furthermore, if the depositor has already withdrawn the interest amount, the portion of interest pre-paid from the deposit (the difference between the already received and to be received interest) shall be deducted. 10.2.6 If the agreement is terminated prior to date, under the initiative of the Bank or for the reason of a disagreement with the client with the amendments offered by the Bank consistent with clause 18.3, the interest rate shall be accrued on the term deposit commensurate with the actual number of days of using the term deposit, according to the interest amount established by the Bank for the respective period. 10.2.7 The Bank is entitled to notify the depositor on expiry of the effective term of the deposit via SMS or in another form envisaged by this agreement. The notification shall be sent to the depositor at the mobile telephone number recorded in the application submitted to the Bank at the moment of the client’s opening a deposit. The client is committed to notify the Bank of any change to their number, otherwise the Bank shall bear no responsibility for the consequences.
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Term Deposit. 10.2.1. term deposit, limits the access of the depositor to the amount placed at the deposit account for the period determined by the agreement. The depositor cannot withdraw amount or add amount to the initial balance. 10.2.2. the interest rate is accrued to the balance existing at the deposit account. 10.2.3. interest rate accrued to the term deposit is transferred to the respective account at the beginning of term, monthly or at the end of term, commensurate with the deposit agreement executed between the depositor and the bank. 10.2.4. the bank is authorized not to allow withdrawal of the deposit amount or its part by the client prior to expiry of the effective term of the deposit, unless otherwise established by the relevant agreement. 10.2.5. in the event the depositor requests return of the deposit prior to expiry of the effective term of the deposit and the bank does not exercise the authority determined in clause 10.
Term Deposit. 10.2.1. Term deposit, limits the access of the depositor to the amount placed at the deposit account for the period determined by the agreement. The depositor cannot withdraw amount or add amount to the initial balance. 10.2.2. The interest is accrued to the balance existing at the deposit account. 10.2.3. Interest accrued to the term deposit is transferred to the respective account monthly or at the end of term, commensurate with the deposit agreement executed between the depositor and the bank. 10.2.4. The bank is authorized not to allow withdrawal of the deposit amount or its part by the client prior to expiry of the effective term of the deposit, unless otherwise established by the relevant agreement. 10.2.5. In the event the depositor requests return of the deposit prior to expiry of the effective term of the deposit and the bank does not exercise the authority determined in clause 10.2.4., the interest shall be accrued to the deposit according to different (reduced) interest rate determined by the respective agreement. Furthermore, if the depositor has already withdrawn the interest amount, the portion of the interest amount pre-paid from the deposit (the difference between already received and to be received interest) shall be deducted. 10.2.6. If the agreement is terminated prior to date under the initiative of the bank or for the reason of disagreement by the client with the amendments offered by the bank consistent with clause 18.3, the interest rate shall be accrued to the term deposit commensurate with the actual number of days of using the term deposit, according to the interest amount established by the bank for the respective period. 10.2.7. The bank is entitled to notify the depositor on expiry of the effective term of the deposit via SMS or in other form envisaged by this agreement. The notification shall be sent to the depositor to the mobile telephone number recorded in the application submitted to the bank by the moment of opening the deposit by the depositor. The client is committed to notify the bank on change of such number, otherwise the bank shall bear no responsibility for the consequences.
Term Deposit. 7.1. The Customer hereby agrees that no Term Deposit shall be cashed before its maturity. The Bank may, however, at its own discretion consider the payment of a Term Deposit before its maturity and in which case the interest rate applicable will be the prevailing rate for the period for which the Term Deposit has actually been held with the Bank less a penalty fee as stated in the Bank ’s Tariffs and Commissions. 7.2. The Term Deposit shall be renewed on maturity for identical period at the prevailing floating interest rate, unless otherwise specifically advised by the Customer before maturity date. Such automatic renewal will discontinue after seven years. The Term Deposit will thereafter be treated as abandoned funds, in which case it will be remitted to the Bank of Mauritius as per the applicable regulations. 7.3. In case of Term Deposit in joint names the depositors herewith expressly authorise that pledging of the Term Deposit for the purpose of securing credit facilities to either of them/third party may be made by anyone of them, which may be considered as a valid discharge. 7.4. In case the Term Deposit is in foreign currency, the interest rate may vary from time to time according to fluctuations in the international money market.
Term Deposit i a. A minimum deposit amount in Ringgit or foreign currency shall be as determined by the Bank. b. Duration of placement is subject to a minimum of 1 month and a maximum of 60 months. Placement by cheque is subject to clearance of the cheque. c. On placement, the deposit must be debited from the Customer’s savings/current account and information on the deposit will be included in the Customer’s account statement. The Customer consents to the Bank utilising any part of the deposit placed for investment purposes before the execution of Commodity Murabahah Transactions.
Term DepositThe following provisions are applicable to any term deposit with the Bank: 3.3.1 The Bank shall only accept term deposits in such currency, of such minimum deposit amount, for such deposit period and shall pay interest on such term deposit at such interest rate, as the Bank may, at its discretion, specify from time to time. 3.3.2 If the Bank shall issue a receipt or confirmation for a term deposit placed by the Account Holder, such document shall only be evidence of deposit and not a document of title. 3.3.3 Any term deposit accepted by the Bank will be subject to the provisions of this Agreement and to such terms and conditions as may be set out in the receipt or confirmation issued by the Bank therefore. If there is any conflict between this Agreement and such receipt or confirmation, the latter shall prevail. 3.3.4 Upon the withdrawal or any drawing of any term deposit, the Bank is entitled (but not obliged) to require delivery of the original receipt or confirmation, if any, issued by the Bank therefor. 3.3.5 Unless otherwise agreed by the Bank, a term deposit can only be withdrawn on or after its maturity date or the expiry of its term. 3.3.6 No term deposit deposited with the Bank by the Account Holder shall be assigned or transferred to any other person. 3.3.7 Unless otherwise agreed or prior written Instructions are received before the maturity date of a term deposit, the Bank may (but shall not be obliged) to, at its discretion, automatically renew the principal balance of that term deposit, together with the interest accrued thereon, upon that maturity date and upon each successive maturity date for a like term at the Bank’s prevailing interest rate for deposits in the currency of that account and for that term. No interest shall accrue or be payable on any term deposit which is not renewed. Where it is agreed that there shall not be any automatic rollover of a term deposit upon maturity, the principal balance together with all accrued but unpaid interest of the term deposit will be deposited into a savings account in the same currency that is maintained by the Account Holder with the Bank or which the Bank may open for such purpose. 3.3.8 If the interest rate applicable to a term deposit for a particular period is an agreed rate above the term deposit rate, such agreed rate shall only apply to that term deposit for that period. That term deposit shall not be rolled over automatically but shall terminate upon maturity and the proceeds thereof sha...
Term Deposit i a. A minimum initial deposit amount shall be as determined by the Bank. b. Duration of placement is subject to a minimum of 1 month and a maximum of 60 months. Placement by cheque is subject to clearance of the cheque. c. 2Q SODFHPHQW WKH GHSRVLW PXVW EH GHELWHG IURP WKH LQIRUPDWLRQ RQ WKH GHSRVLW ZLOO EH LQFOXGHG LQ WKH consents to the Bank utilising any part of the deposit placed for investment purposes before the execution of Commodity Murabahah Transactions.
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Term Deposit. The Licensee(s) agree to secure the said locker with such amount in form of a term deposit (as mentioned in above table) as may be prescribed by RBI from time to time at the time of locker allotment by the bank.
Term Deposit. 10.2.1. Term deposit, limits the access of the depositor to the amount placed at the deposit account for the period determined by the agreement. The depositor cannot withdraw amount or add amount to the initial balance. 10.2.2. The interest is accrued to the balance existing at the deposit account. 10.2.3. Interest accrued to the term deposit is transferred to the respective account monthly or at the end of term, commensurate with the deposit agreement executed between the depositor and the bank. 10.2.4. The bank is authorized not to allow withdrawal of the deposit amount or its part by the client prior to expiry of the effective term of the deposit, unless otherwise established by the relevant agreement. 10.2.5. In the event the depositor requests return of the deposit prior to expiry of the effective term of the deposit and the bank does not exercise the authority determined in clause 10.2.4., the interest shall be accrued to the deposit according to different (reduced) interest rate determined by the respective agreement. Furthermore, if the depositor has already withdrawn the interest amount, the portion of the interest amount pre-paid from the deposit (the difference between already received and to be received interest) shall be deducted. 10.2.6. If the agreement is terminated prior to date under the initiative of the bank, the interest shall be accrued to the term deposit commensurate with the actual number of days of using the term deposit, according to the interest amount established by the bank for the respective period. 10.2.7. The bank is entitled to notify the depositor on expiry of the effective term of the deposit via SMS or in other form envisaged by this agreement. The notification shall be sent to the depositor to the mobile telephone number recorded in the application submitted to the bank by the moment of opening the deposit by the depositor. The client is committed to notify the bank on change of such number, otherwise the bank shall bear no responsibility for the consequences.
Term Deposit an amount of money that customers deposit at OCB for a certain period of time as agreed between the customer and OCB on the principle of fully returning principal and interest to customers.
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