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| Home>Medium Companies>Time deposits |
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| Apply for a time deposit and obtain better returns for your available funds. Companies can set up a time deposit easily and at any time by transferring funds from a Citibank current account. |
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- Any number of time deposits for various maturities can be created.
- A time deposit is set up by the client via internet banking.
- A time deposit can be created in CZK or foreign currencies.
- The minimum period for all time deposits - including time deposits in CZK – is seven days.The maximum period for a time deposit is one year.
- The interest rates for various time deposit maturities are regularly updated (current rates are available in our internet banking). Upon agreement with a personal banker, you may set an individual rate for a time deposit of a higher amount. Interest rates are fixed for the entire period of the time deposit.
- At any time during this period, the client may completely or partially cancel a time deposit.
- Advance payment of income tax for entrepreneurs is automatically charged from the credited interest. The tax rate is currently 15%.
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| Citibank offers two kinds of time deposits for companies: flexible non-revolving time deposits and flexible revolving time deposits. |
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| Flexible non-revolving time deposit |
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- Upon maturity, the deposit and interest will be transferred to the Citibank current account of your choice.
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| Flexible revolving time deposit |
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- Depending on your instructions, the deposit and the interest can be automatically renewed, or the interest can be credited to your Citibank current account.
- Interest is credited on the day of renewal.
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| The major advantage of these flexible time deposits is that you may withdraw any amount prematurely. The residual balance remains deposited and bearing interest. |
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| Cancellation of a time deposit |
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| At any time during this period, the client may completely or partially cancel a time deposit using one of the following methods: |
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- Make a request for partial or complete cancellation of a time deposit by sending a message via internet banking.
- Make a request for partial or complete cancellation of a time deposit via the CitiPhone customer line.
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| A penalty for partial or complete cancellation of a time deposit is applied as specified in the pricelist. |
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