Term Deposits. 8.1 From time to time either via its Website or directly to a Client the Bank may make offers for the opening of a Term Deposit. Such offers qualify as "Product Conditions". The Bank is only obliged to open a Term Deposit if the Client has accepted these Product Conditions without reservations In Writing, via the Internetservice or per telephone. In that case the Bank shall as soon as possible open that Term Deposit and shall block the agreed Deposit Amount. Term Deposits are always connected to a Savings Account. The Bank reserves the right to reject Term Deposits below a minimum amount as established by the Bank.
8.2 During the Deposit Term Deposit Interest accrues on a daily basis and is calculated on the basis of 365 days per calendar year, in case of a leap year this is 366 days. Deposit Interest is credited on the interest dates agreed in the relevant Agreement or Product Conditions, in the currency in which the Term Deposit was opened and calculated over the actual Deposit Amount.
8.3 If the Client requests the Bank to cancel the Term Deposit against the last day of the Deposit Term, the Client can freely dispose of the Deposit Amount and the accrued Deposit Interest at the end of the Deposit Term in the currency in which the Term Deposit was opened, except in case of extension or interruption of the Deposit Term.
8.4 In case before the end of the Deposit Term the Bank has not received a request from the Client to release the Deposit Amount, then the Deposit Amount, including any accrued Deposit Interest, will be automatically extended under a new Term Deposit with an equal Deposit Term against the Deposit Interest then offered by the Bank for this kind of Term Deposits. The new Term Deposit can be cancelled with immediate effect within 14 days from the commencement of the new Deposit Term. The Bank is not obliged to notify the Client of the end of a Deposit Term.
8.5 Except in case of the situations described in Clause 8.7, none of the Clients is entitled to cancel a Term Deposit against a date other than the last day of the Deposit Term, nor is any of the Clients, except in case of the below situations, entitled to dispose of all or a part of the Deposit Amount and the accrued Deposit Interest before the end of the Deposit Term.
8.6 In case a Client due to the occurrence of any of the events described in Clause 8.7, wants to dispose of part or all of the Deposit Amount before the end of a Deposit Term, that Client is over that prematurely claimed ...
Term Deposits. Through the Macquarie Individually Managed Account (IMA) you have the ability to invest in term deposits as part of your cash portion of your strategic asset allocation. The below diagram illustrates how term deposits held within the IMA work: Term deposits are held in trust for you by MPPM with the selected term deposit provider. Different maturities are available, with investments made on a weekly basis. Term deposits are held individually, therefore deposits under the cap are covered by the Financial Claims Scheme (FSC) (commonly referred to as the Australian Government deposit guarantee). Further information about the FSC can be obtained from the APRA website at xxxx.xxx.xx and the APRA hotline on 1300 558 849 (or +00 0 0000 0000 if calling from overseas). As part of your Investment Policy Statement you can set the parameters to which an investment in term deposits can be made. This is achieved by setting a maximum allocation to term deposits within your target cash weighting. This is subject to a minimum cash balance of two per cent. MPPM will monitor investments in term deposits to ensure it is within this allocation. Investments into term deposits can be customised by the amount and term (Term Deposit Customisations). To allow for timely investment into term deposits, you authorise your financial adviser to provide these ongoing instructions on your behalf. YOU AND YOUR ADVISER MACQUARIE PRIVATE PORTFOLIO MANAGEMENT The investible amount must be greater than $50,000 per deposit with increments of $10,000 and within your maximum allocation when the instruction is provided. You may invest in one or more term deposits as long as the total amount invested is within your maximum allocation when the instruction is provided. There may be a time when your actual account varies from your target asset allocation by more than the 10 per cent, due to such factors as market movement or cash flows. MPPM may be unable to rebalance your account back to your Strategic Asset Allocation until your term deposits mature. At maturity, MPPM will rebalance your account, which may reduce the amount of cash that is able to be reinvested in term deposits. On maturity of any term deposit, the principal and interest will be credited back to your cash holdings. Your financial adviser will be able to provide further instructions regarding the amount and term to be reinvested in term deposits. The amount to be invested and the term may be different to your previous term deposit ho...
Term Deposits. 23.2.1 The establishment of a term deposit is made by debiting the amount corresponding to the order in the demand deposit account designated for that purpose, subject to the General Terms and Conditions and the specific conditions that are, in each case, agreed upon with the Client, notably in terms of amount, currency, interest rate, start date, due date or period (number of days).
23.2.2 The renewal of a term deposit beyond its due date depends on agreement between the Bank and the Client.
23.2.3 The deposit shall bear interest in favour of the Client at the rate applicable to him under the specific conditions agreed. Interest will be paid at the end of the term of the deposit by crediting the demand deposit account indicated by the Client. Interest shall be calculated in accordance with the Schedule of Charges, the legislation in force, or failing that, according to market practice.
23.2.4 The return of capital plus net interest can only be made at the end of the initial term or any of its renewals.
23.2.5 The mobilization of all or part of the deposit before maturity depends on the Client´s request and the Bank's consent and is subject to what it is established in the Standardized Information Sheet delivered to the Client.
23.2.6 Communication on how the deposit was made contained in the Confirmation Notice serves as proof that the deposit was made.
23.2.7 Term deposits are regulated by these General Terms and Conditions, by those established in the product Standardized Information Sheet delivered to the Client and, when not expressly foreseen in these documents, it are applicable the specific conditions agreed upon with the Client, which prevail in case of any discrepancy.
24. Account Validity and Closing
24.1. The account opening agreement will be valid indefinitely.
24.2. Either of the parties has the right to, at any time, terminate the Account Opening agreement, by notice to the other party made with one month in advance, in case of the Client, and two months in advance in case of the Bank, in relation to the date on which termination shall take effect.
24.3. The Bank can terminate all business relations in force with the Client by means of a shorter prior notice than that stated in point 24.2, or with immediate effect, if the Client does not promptly comply with any of its obligations to the Bank.
Term Deposits. 26.1.1. Term Deposits are available for different durations (for instance 3 months or 1 year), some of which may only be available for you to invest in for a limited time (Limited Issue Term Deposits)
26.1.2. Depositing additional funds during the term of the Term Deposit is not allowed, but you may open additional Term Deposit Accounts.
26.1.3. Your Term Deposit will mature on the relevant anniversary of the date the deposit was opened, or if this is a non-business day, the next business day. If we do not hear from you up to 5 business days prior to the date of maturity, the monies will be rolled over in your name(s) as per your latest instruction held with us or, in the absence of any disposal at maturity instructions, into a new Term Deposit of the same term as the maturing Term Deposit and at the then prevailing interest rates.
26.1.4. The rate of interest will be fixed at the time of issue of the Term Deposit. Interest on the Term Deposit is calculated on the principal investment amount and will not be compounded ( unless you are advised otherwise in writing). Interest will only be paid on the maturity date of those Term Deposits of a period of one (1) year or less. Where the Term Deposits run for a period of above one
(1) year interest will be paid at agreed intervals within the term of the Term Deposit. However, you have the option to have the interest paid on the maturity date upon notifying us of such request.
26.1.5. Early withdrawals from Term Deposits will be permitted on condition that the entire interest accrued will be forfeited. You must however give us one (1) month written notice of your intended withdrawal. We will effect your withdrawal instructions upon the lapse of your notice. Please note that you must withdraw the entire Principal amount as partial withdrawals are not allowed.
26.1.6. All payments, whether of interest or principal will be made by an automated credit into a KCB account in Uganda nominated by you. There may be a charge for any other means of transfer requested by you.
26.1.7. We reserve the right either to decline or open a Term Deposit. For Limited Issue Term Deposits, no applications will be accepted after the closing date, once announced.
26.1.8. You must provide us with any information requested, which we consider pertinent to this, or another, banking service at any time.
Term Deposits.
2.7.1 Changes to Agreement motusbank can add to or change the terms and conditions of this Agreement from time to time, but motusbank will give at least 30 days’ notice of any such additional or amended terms and conditions. We may change this Agreement at any time, and any changes communicated to you at least 30 days before they take effect. Notice of changes to this Agreement may be distributed through our statements, letters and/or posted on the Website. If you access or maintain funds on deposit in the term deposit after the effective date of the change, you automatically accept the change.
Term Deposits. All employees will be allowed to purchase Term Deposits in the minimum amount of One Hundred Dollars ($l00.) and in multiples thereafter.
Term Deposits. 26.1.1. Term Deposits are available for different durations (for instance 3 months or 1 year), some of which may only be available for you to invest in for a limited time (Limited Issue Term Deposits)
26.1.2. Depositing additional funds during the term of the Term Deposit is not allowed, but you may open additional Term Deposit Accounts.
26.1.3. Your Term Deposit will mature on the relevant anniversary of the date the deposit was opened, or if this is a non-business day, the next business day. If we do not hear from you up to 5 business days prior to the date of maturity, the monies will be rolled over in your name(s) as per your latest instruction held with us or, in the absence of any disposal at maturity instructions, into a new Term Deposit of the same term as the maturing Term Deposit and at the then prevailing interest rates.
Term Deposits. 6.1 You may instruct us to invest your funds (or a portion of your funds) in a term deposit.
6.2 The minimum term deposit amount is currently $10,000.
6.3 You have a seven Business Day cooling off period in respect of term deposits starting on the date you take out or re- invest a term deposit. During this period, you may cancel the term deposit or, if the Account Provider agrees, make changes to the principal amount, the term and/or interest payment frequency.
6.4 If you cancel your term deposit during the seven Business Day cooling off period, you will be paid the full amount of your investment without interest.
6.5 Outside of the seven Business Day cooling off period, you can only withdraw all or part of a term deposit if the Account Provider agrees. The Account Provider currently has a 32 day notice requirement for an early withdrawal from a term deposit (unless you are suffering from hardship (as reasonably determined by the Account Provider)). If an early withdrawal is approved, a reduced rate of interest will apply to funds withdrawn or repaid before maturity. The reduced rate of interest will be determined by the Account Provider. For more information on early withdrawals, see the Account Provider’s website.
Term Deposits. I understand that ICICI Bank guarantees repayment at maturity of the principal sum and the interest earned on my term deposit with ICICI Bank (a “Term Deposit”). Unless otherwise instructed by me, at maturity the principal and accrued interest on my investment wi ll automatically be reinvested for a term as may be decided by ICICI Bank and at such rates as may be applicable at the time of reinvestment. For Term Deposit’s of one year or longer and in currencies other than United States Dollars, interest is calculated on the basis of 365 or 366 days and compounded and/or paid annually. When ICICI Bank offers Term Deposits in currencies for terms of less than one year, interest is calculated on the basis of 365 or 366 and paid at maturity. For Term Deposits denominated in United States Dollars and over a one year term, interest is calculated on the basis of 360 days and compounded and/or paid annually. When ICICI Bank offers term deposits in United States Dollars for terms of less than one year, interest is calculated on the basis of 360 days and paid at maturity. The principal amount shall not become payable until the maturity date, unless I have chosen to redeem my Term Deposit prior to its maturity date. The rate of interest paid on a Term Deposit that is cashed prio r to maturity, when permitted, will be adjusted to equal the cashable interest rate agreed to on the original purchase of the Term Deposit. A Term Deposit is not negotiable and may not be assigned by me.
