CEC Bank has launched Long-Term Deposits, a new retail saving product in RON in which the bank hold’s on to customers’ money for terms of of 18, 24, 30 or 36 months. The minimum value of the deposit is of RON 500. No fee for cash withdrawal is charged upon the maturity date. With regard to current accounts opened for consumers, CEC Bank does not charge annual administration fees or an opening fee.
The interest rate is updated on a quarterly basis depending on the NBR monetary policy. Thus, for creation periods of 18 and 24 months, the yearly bonus interest is equal to the prim interest rate set by the NBR, plus 0.50 bps, while for 30 and 36 month deposits, the yearly bonus interest is equal to the interest rate of NBR monetary policy plus 0.75 bps.
