FX term deposits can be opened with at least US$ 1000 or its equivalent to other valid currencies.
This deposit is opened for period of 1,2,3,6 months and 1 year and it will be extendable if the depositor demands for it.
The profit of all kinds of deposits is calculated according to LIBOR rate plus specific margin (with respect to deposit term).
Deposit Profit rate is calculated on the basis of the LIBOR rate of the placement date and if the deposit is extendable ,the profit rate of the new term is calculated in accordance with the rate of the first date of the extension term. If the deposit cancelled after one month, regardless of the deposit duration, the profit will be calculated based on the LIBOR rate, appropriate to the period that the deposit has been with the bank and it will be paid to the depositor .
Depositors may provide the bank with the deposit contract as a security for receiving bank's facilities or FX and Rial guarantees or opening L/Cs so while they receive the profit of their deposit , they also provide the necessary security .
Required Documents Of Opening Fx Deposit :
A) Opening this account is possible for all individuals and legal ( non-governmental )entities individually and jointly in case there is no legal prohibition .
B)If the depositor doesn’t have account with the considered branch , he should complete the form of deposit contract and present his deposit request and refer to the branch personally with the original copy of pictured birth certificate and its copy (in case of joint deposit , the presence of partners and their birth certificates is obligatory ).
If the depositor has another account with the considered branch, for opening the new account , he should complete the deposit form and present his request .