Automatic overnight deposit

The product is destined to capitalize highly on the funds available at the end of each calendar day in the current account(s)/sub-account(s) of customers, performed automatically by the bank on the grounds of the mandate given by the former. The product addresses current account holders in lei and/or foreign currency at BCR, certified individual customers, legal person customers.

Advantages

  • Flexibility
  • superior management of the available funds
  • added value for those who deposit more, since the interest rate is differentiated on value groups depending on the overnight deposit balance
  • possibility to establish an overnight deposit by transferring from the funds associated with several current account/sub-accounts indicated by the customer, under the same currency
  • possibility to establish a cap for the amount in each current account/sub-account depending on which bank performs the automatic transfer into the overnight deposit account of amounts that exceed this limit
  • time saving as a consequence of a simplified and more efficient management process for deposits (automatic establishment and settlement operations)
  • security provided by the guarantee of the Deposit Guarantee Funds for amounts deposited 

Features

The product is destined to capitalize highly on the funds available at the end of each calendar day in the current account(s)/sub-account(s) of customers, performed automatically by the bank on the grounds of the mandate given by the former.

The product addresses current account holders in lei and/or foreign currency at BCR, certified individual customers, legal person customers.

Currency: LEI, USD, EUR

Minimum amount for establishment:

  • 100,000 RON
  • 35,000 EUR
  • 50,000 USD

Length of the automatic overnight deposit: 1 calendar day

Banca Comercială Română takes part in the Deposit guarantee fund of the Romanian banking system, being on the list of credit institutions taking part in the Deposit guarantee fund of the Romanian banking system, under which depositors benefit from guaranteeing their deposits, through the payment of compensation, within the ceiling established periodically by the fund. This list can be examined directly on the internet page of the Deposit guarantee fund of the Romanian banking system,
www.fgdb.ro.

Interests

  • fixed for every automatic overnight deposit established
  • differentiated on value groups depending on the deposit balance
  • variable during the Automati overnight deposit framework agreement, but no less than the interest applied by the bank for available funds

Value groups:

1. for automatic overnight deposits in LEI:

  • over   100,000 LEI and under            500,000 LEI
  • over   500,000 LEI and under 1,000,000 LEI
  • over   1,000,000 LEI and under 5,000,000 LEI
  • over 5,000,000 LEI

2. for automatic overnight deposits in EUR:

  • over   35,000 EUR and under 150,000 EUR
  • over   150,000 EUR and under 300,000 EUR
  • over   300,000 EUR and under 1,500,000 EUR
  • over 1,500,000 EUR

3. for automatic overnight deposits in USD:

  • over   50,000 USD and under 250,000 USD
  • over   250,000 USD and under 500,000 USD
  • over   500,000 USD and under 2,000,000 USD
  • over   250,000 USD and under 1,000,000 USD

Establishing an overnight deposit is performed automatically by the bank at the end of every calendar day by transfer through the current account(s)/sub-account(s) indicated by the customer, in the same currency, into the automatic overnight deposit account, in compliance with the minimum amount for establishment set by the bank.

The overnight deposit is automatically settled on maturity, by exclusive transfer to the current account(s)/sub-account(s) from which the overnight deposit was established.

Upon request from the customer, the bank can set an amount limit for each current account/sub-account indicated in the Automatic overnight deposit framework agreement, based on which the automatic transfer is performed into the overnight deposit account, as such:

  • if the balance of the current account/sub-account is higher than the amount limit set by the customer, the bank will automatically transfer the amount exceeding this limit into the overnight deposit account
  • if the balance of the current account/sub-account is lower than or equal to the amount limit set by the customer, the bank will make no automatic transfer into the overnight deposit account

You might also be interested in

×
George
Download