Time Deposits. 2.5.1. Time Deposit is a type of account where the principal sum, not being less than an amount announced by the Bank, is subject to interest over a rate of interest applied by the Bank as of the end of a predetermined maturity. If it is requested to withdraw money from Time Deposit Accounts at any time before the end of maturity thereof and this request is accepted by the Bank, then, without prejudice to the obligations and liabilities arising out of the applicable laws and regulations, the Bank will be entirely authorized to or not to apply interest over the money withdrawn from and/or the money left in the account, and if interest is applied, to apply the rate of interest applied for Demand Deposit Accounts as of that time or any other rate of interest deemed suitable therefor, and to determine different rates of interest according to the time of withdrawal and/or the amount withdrawn from the account. For amounts remaining below the amount announced as above, the Bank will have the right not to open a Time Deposit Account. The Bank will in its sole discretion be entitled not to open a Time Deposit Account for amounts below the threshold amount announced in relation therewith.
Time Deposits. (a) This is a type of account in which the principal which is not less than the amount declared by the Bank is valued by an amount of interest calculated at a rate of interest applied by the Bank at a prescribed due date.
Time Deposits. 2.5.1. Time Deposit Account is a type of account in which an amount of principal not less than the threshold designated and published by the Bank is accreted for a predetermined term by the Bank over an interest rate to be calculated over the rate applied by the Bank. In case of a request of withdrawal from a time deposit account before the end of its maturity and such demand is found acceptable by the Bank, without prejudice to the liabilities and obligations imposed by the applicable laws and regulations, the Bank shall be authorized to decide whether or not to continue to apply and accrue any interest on the moneys withdrawn from and/or left in the account, and if accrued, to apply and accrue over the rate of interest applied on demand deposit accounts or other interest rates deemed fit by the Bank, and to determine and apply different interest rates according to time of withdrawal and/ or amount withdrawn from the account. The Bank reserves the right not to open time deposit accounts for amounts less than the threshold published by the Bank.