TheTime Depositaccount is a form ofhigh-return investment, with a level ofcustomisationwe call “tailored”. Options are available for minimum investments ofEUR 1 millionand forvarious terms and, on maturity, both initial capital and interest are paid out.
It is not a product but rather an ad hoc solution, to be configured and built based on corporate needs and expectations.
The time deposit earns interest for the non-withdrawal term, at an interest rate agreed together before entering into the contract. On the deposit natural maturity date, we return the initial amountandroll overinterest accrueddirectly to an Ifis Impresa current business account, which is required to be opened before the Time Deposit may be activated. The return depends on the capital invested, on the term of the deposit and on the type of solution chosen: fixed-term capital (Time Deposit Vincolato) or with no fixed-term (Time Deposit Flessibile), which allows early release of amounts on providing 33 days’ advance notice.
You may open several Time Depositsimultaneously, each with different constraints, features and returns. The deposit period is extremely variable and may also have very short terms: from a minimum of 3 months to a maximum of 18 renewable months. The deposit may be in euros or in the main currencies traded by Banca Ifis.
You can choose betweenTime Deposit VincolatoandTime Deposit Flessibile. A Time Deposit Vincolato does not provide for the option of early closure and cash out of deposited sums, and payment of interest is provided only on maturity of the fixed-term. A Time Deposit Flessibile provides the option for funds to be cashed out early, after a minimum deposit period of 3 months, after the deposit activation date, and on providing 33 days’ advance notice.
But the real flexibility lies in the return: the certificate of deposit may be customisedaccording to the features of the selected time deposit accounts.
Banca Ifis is a member of theInterbank Deposit Protection Fund which guarantees up to EUR 100 thousand per customer and per bank. Please also note that, since 2 July 2015 the Italian Parliament has enacted a law introducing harmonised rules in all European countries to prevent and managebank and investment company crises (download thefull bail-in document, here).
How it works?
We get to know each other
We set up a fact-finding meeting. Together, we can discuss investment amounts, features and term constraints.
We agree on what you are looking for
We customised your Time Deposit contract. We will then open an Ifis Impresa Conto Corrente. And we will sign the contracts.
And you're all set!
We will receive the locked mount via wire transfer. The Time Deposit earns interest from the date the deposit starts to run.
We manage it together
If you have opened a Time Deposit Flessibile, you can request early cash out, by providing 33 days’ advance notice.
Cashing out funds
If the Time Deposit is not renewed, at maturity, the locked amounts will be rolled over to your Ifis Impresa Conto Corrente, net of revenue duty.
Advertising message for promotion purposes only. For Time Deposit contractual terms and conditions, please consult the key information sheet available at branches and in theTransparencysection of the websitewww.bancaifis.it.
The extremely flexible and customisable features of this investment option mean that it is not possible to open a Time Deposit account online. Contact your nearest branch.