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Millennium Bank launches package with 10% annual interest rate RON deposit and investment fund

Autor: Bancherul.ro
2010-07-09 13:05

Millennium Bank launches Dual Package, a saving and investment instrument for individuals, made of a special interest rate RON deposit and an investment fund, said the bank in a press release.

The deposit has a three-month maturity and offers a special interest rate, of 10% per year, and Integro is an open-end investment fund managed by Pioneer Asset Management. Integro is a fund with moderate investment risk, thanks to the investments portfolio, consisting of both fixed income instruments - bank deposits, bonds, state bonds - and listed shares.

“It’s the first time such a product is promoted as a mass-market package, through an outdoor and indoor advertising campaign. Dual Package gives our clients the possibility of placing money in an advantageous way in two different products and, thus, diversify their saving and investment portfolio”, stated Eliza Erhan, Head of Retail Product Development at Millennium Bank. “The investment funds market is still in an early phase in Romania, but we are well prepared and eager to offer such products to our clients and, thus, contribute to their introduction in this field”, Eliza Erhan added.

The minimum investment amount for Dual Package is RON 1,000, 50% of the total amount is placed in the term deposit and the other 50% in the investment fund. Clients can withdraw their money from the fund at any time, with no penalty fee, but the recommended investment period is of at least two years. The money placed in the bank deposit receives 10% annual interest, the calculated amount being paid at the maturity date in the current account of the customer.

With the launch of Dual Package, Millennium Bank enters the market of investment funds distribution and offers its clients two Pioneer open-end funds: Integro and Stabilo.

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