Make the most of the savings month with the most favourable interest rates
08.11.2006
In the attempt to stimulate additionally the savings growth and improve the tenor of these deposits, Banca Intesa Beograd improved once again the conditions for time savings in euro for all existing savings categories, which differ by time deposit periods and amount of the savings deposit. Taking into account that it was found by analysis that in the previous period citizens mostly saved amounts up to 10.000 euro, mainly time deposits on shorter periods, the Bank introduced three new savings categories – for deposits up to 2.000, from 2.001 to 5.000 and from 5.001 to 10.000 euro and mostly increased the interest rates in these categories. The stimulating interest rates, which in some cases exceed 6 percent, shall be applied till the end of November.
After the National Bank of Serbia reduced the rate of obligatory reserve on dinar deposits from 18 to 15 percent, Banca Intesa Beograd increased its interest rates on dinar savings on the average for 3 index points. The highest interest rates on dinar time deposits are ranging up to 19 percent now.
More favourable saving conditions already resulted with additional time deposits of 12 million euro, gathered only in the first five days of the savings month, said Dejan Tešić, member of the Executive Board of Banca Intesa and Head of the Retail Division and added that more than 40 percent of the newly gathered deposits were of long-term character which clearly pointed out that the volume and structure of savings were moving to the desired direction.
When turning savings into time deposits for periods longer than 6 months, Banca Intesa Beograd offers citizens, as an additional advantage, the opportunity of buying euros by a stimulating rate which is lower than the selling exchange rate of the NBS for effective money. Also, as another novelty in the offer, Banca Intesa sums up the deposits of citizens when making them time deposits with the same tenor and enables them in that way the automatic switch to the category with a higher interest rate. By opening at-sight or FX time deposit accounts with a min. deposit of 250 euro, clients get entitled to a free of charge Visa electron payment card.
The owners of the FX savings deposits in Banca Intesa Beograd may effect payments abroad, receive funds from abroad, cash foreign checks, buy American Express travellers checks.
According to the savings volume Banca Intesa Beograd is one of the leading banks at the Serbian market, with the FX deposits amounting to 393 million euro, and dinar deposits of 250 million dinar, as of October 30th 2006.
The Bank’s deposit potential increased significantly since the end of 2005, so that Banca Intesa Beograd kept the leading position by the amount of total corporate deposits and strengthened its position in the field of retail operations, which is also confirmed by the growth of the FX savings for 45% and dinar savings for even 120% in regard to the end of 2005. The fact that the total number of deposits in Serbia is constantly growing is a clear sign that the confidence of the citizens into banks and the banking system is being restored.
„SAVINGS MONTH“ CAMPAIGN
INTEREST RATES IN NOVEMBER 2006.*
| Interest group | Range of the savings in EUR | Demand savings | FX time savings | |||||
| 1 | 3 months | 6 months | 12 months | 24 months | 36 months | |||
| 1. | Up to 2.000 | 1% | 3% | 4% | 4,5% | 5% | 5,4% | 5,8% |
| 2. | 2.001 – 5.000 | 1% | 3% | 4% | 4,5% | 5,1% | 5,4% | 5,8% |
| 3. | 5.001 – 10.000 | 1% | 3% | 4,3% | 5% | 5,2% | 5,6% | 5,9% |
| 4. | from 10.001 to 25.000 | 1% | 3% | 4,3% | 5% | 5,4% | 5,6% | 5,9% |
| 5. | from 25.001 to 50.000 | 1% | 3% | 4,5% | 5,3% | 5,5% | 5,7% | 6% |
| 6. | over 50.000,01 | 1% | 3% | 4,5% | 5,3% | 5,6% | 5,8% | 6,3% |
