Time Deposit Accounts. 2.5.1. Time Deposit Account refers to any account in which any principal amount specified by the Bank not to be less than the limit announced by the Bank is deposited and on which interest is accrued by the Bank on a maturity date and at an interest rate specified before by the Bank. In case of withdrawal of any sum from the deposit accounts, the Bank shall be free to accrue or not to accrue interest on the amount withdrawn and/or balance of the account or if accrues any interest, to apply the interest rate that is applicable for the Deposit Accounts as per the related laws and regulations and to determine different rates of interests at the time of withdrawal and based on the withdrawn amount. The Bank is also entitled not to open Time Deposit Account for amounts less than the specified limit.
Time Deposit Accounts. If there is no customer-initiated activity on your CD account, it will be considered inactive for purposes of determining whether the property is deemed abandoned from the first maturity date. If your account is a traditional IRA account, the time period after which your account is considered inactive begins after you reach the age of 70½ and varies in length by state law. Xxxx IRAs are never considered inactive. If your account is a Xxxxxxxxx Education Savings Account, the time period after which your account is considered inactive begins after you reach the age of 30 and varies in length by state law.
Time Deposit Accounts. 4.3.1 A time deposit account is the type of an account in which an interest over the principal, not less than the amount declared by the Bank, is accrued at the rate provided by the Bank at the end of a predetermined period.
Time Deposit Accounts. 2.5.1. Withdrawing funds in part or in full before the end of maturity determined between the Bank and the Client shall be subject to the Bank's permission. If funds are withdrawn from time deposit accounts before the maturity date, the Bank shall be authorized to determine whether interest will be accrued for the funds withdrawn and/or to be left in the account, if accrued, to apply the interest rate applicable to demand deposit accounts or any other interest rate to be deemed appropriate, and to determine different interest rates on the basis of the time of withdrawal and/or withdrawn amount. The Bank shall be entitled not to open Time Deposit Accounts for the amounts falling below the announced amount.
