Bancherul - BANCI / ENGLISH / Millennium Bank offers term deposits with monthly interest payment

Millennium Bank clients who want to save on long term can now benefit from the new “12 winning months” deposit, which provides monthly payment of the interest. The gains from the interest rate are transferred automatically by the bank in the current account indicated by the client. The deposit is available in lei, with a 12 month maturity, and can be created with a minimum amount of 1,000 lei, said the bank in a statement.

The fixed annual interest rate is 6.25% for deposits created via Internet Banking or 6% for those opened in branches or through Call Center, for amounts larger than 20,000 lei. The amounts of up to 20,000 lei benefit from an interest rate of 6% for deposits created via Internet Banking, or 5.75% for those opened in branches or through Call Center. The deposit opening and administration are free.

“Our strategy is to become a consistent saving partner for our clients by providing a diversified portfolio, that matches their needs. In line with this strategy, we are broadening our product offer this year. The «12 winning months» deposit is a first step in this direction. This long term saving instrument was created for clients who want to have a steady monthly income, while putting money aside”, Eliza Erhan, Head of Retail Product Development with Millennium Bank Romania, stated.

Millennium Bank’s saving portfolio includes classic term deposits with fixed interest rate, Ascendent Deposit with progressive interest rate that reaches 10% per year for the sixth month, saving accounts, as well as Dual Package, a saving and investment instrument, made of a three-month lei deposit with 10% annual interest rate and an investment fund with moderate risk.