FIMBank launches 1,000 Day Deposit Account

13.04.2012

FIMBank announces the launch of the 1,000 Day Deposit, a fixed-term account which pays a competitive interest of 4.25% per annum for deposits of a minimum of €25,000. This new euro-based product allows savers to receive their principal 90 days earlier than a traditional three-year fixed term deposit. Commenting on this new product, FIMBank’s Head Global Deposits Martin Chetcuti stated that: “Feedback from our customers has indicated a preference for higher rates than those available in the two-year market. In response to this, FIMBank has come up with an account with a deposit period of 1,000 days, maturing in two years and nine months and paying an advantageous interest rate.”

“In a further attempt to add value to this innovative product” adds Mr Chetcuti, “FIMBank’s 1,000 Day Deposit allows clients the option of depositing funds from interest received on this account in a FIMBank savings account or receive proceeds directly by cheque.  Clients also have the option to compound interest by adding it to the principal amount and earning interest on the cumulative total”. Interest on the 1,000 Day Deposit is payable every ninety days, while no transaction fees or bank charges are applicable.

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