Gradual Growth Savings Account
Key benefits of Gradual Growth Savings
• To term-deposit your savings, you need to open a separate sight (a vista) foreign currency account • Minimum initial agreed monthly payment: EUR 20 • Maximum initial agreed monthly payment: EUR 1,000 Interest • If all conditions are met, an annual nominal interest rate and BONUS interest are calculated and paid out after the end of each 12-month calculation period • In the case of early withdrawal, the interest paid for previous calculation periods remains on your account. For the calculation period during which the withdrawal occurs, the applicable sight (a vista) deposit interest rate (valid at the time of withdrawal) is applied, calculated from the start date of the calculation period to the withdrawal date • Interest is calculated and paid at the end of each calculation period. The bank deducts and remits capital income tax (withholding tax) to public revenue accounts in accordance with applicable regulations. The net interest amount is made available to the client by depositing it into a dedicated sight (a vista) foreign currency account. To earn the BONUS interest: • A fixed amount of savings, determined and agreed upon with the bank in advance (within the minimum and maximum range), is deposited each month • The agreed monthly deposit amount cannot be changed (increased or decreased) during the term of the agreement • No more than one deposit may be made within a calendar month • If you fail to make one monthly deposit or deposit an amount smaller than the agreed monthly deposit over a specific calculation period, you lose the right to BONUS interest for that calculation period • Eligibility for BONUS interest is assessed at the end of each calendar month, and the BONUS interest is paid at the end of the 12-month calculation period for the preceding 12 months
Monthly deposits into the Gradual Growth Savings Account in EUR are made exclusively via a standing order at AIK Banka from a sight (a vista) foreign currency EUR account to the Gradual Growth Savings Account. Deposits into the sight (a vista) foreign currency account may be made as follows: • Activating a specially agreed standing order for purchasing EUR from an RSD account, at the NBS middle exchange rate • Via AIK Banka's electronic and mobile banking services by transferring from foreign currency accounts or RSD accounts (with EUR purchased at the applicable exchange rate for foreign exchange transactions) • Depositing at AIK Banka's multifunctional ATMs located in branches with 24/7 Zones • Cash deposits in EUR at an AIK Banka branch
The total interest rate on Gradual Growth Savings Accounts in EUR consists of the following: ✓ Nominal Interest Rate ✓ BONUS interest, calculated and paid if the client meets the conditions for its accrual. The condition for receiving BONUS interest is the payment of the agreed monthly amount every calendar month during the calculation period. Example of a Gradual Growth Savings Account in EUR, provided in the table below:
| Monthly contribution amount | EUR 100 per month | ||||||||||||||||||||||||||||||
| Term | 60 months | ||||||||||||||||||||||||||||||
| Nominal Interest Rate (NIR) per annum (fixed, calculated using the proportional method) |
*he condition for earning the bonus interest is the payment of the agreed monthly amount every calendar month during the calculation period, as specified in the Agreement. | ||||||||||||||||||||||||||||||
| Accrued gross interest in EUR | EUR 453,26 | ||||||||||||||||||||||||||||||
| Total payout amount in EUR (after tax deduction) | EUR 6.385,28 (RSD 747.253,36) | ||||||||||||||||||||||||||||||
| EIR (per annum) | 2,52% | ||||||||||||||||||||||||||||||
| Indexation Criteria | None | ||||||||||||||||||||||||||||||
| Costs borne by the client known at the time of advertising and included in the Effective Interest Rate calculation | |||||||||||||||||||||||||||||||
| Tax obligation – Withholding tax 15% | EUR 67,98 | ||||||||||||||||||||||||||||||
Online Fixed-term Savings
Frequently Asked Questions
Unfortunately, no. For Gradual Growth Savings you are required to open a special sight (a vista) EUR account.
No. Maintaining this account is free throughout the duration of the Gradual Growth Savings Agreement.
If you signed the agreement on 18 September and made the initial cash deposit, the next month's deposit can be made anytime from 1 October to 31 October 31, and so on. You will not lose your right to the BONUS interest if you deposit, for example, on 31 October. The key is to ensure the agreed deposit is made each calendar month.
Unfortunately, no. Only one deposit per calendar month is permitted.
Unfortunately, no. Only the exact agreed amount may be deposited—neither more nor less.
The standing order from the RSD to the foreign currency account will not be executed. However, you can make a cash deposit in EUR to the foreign currency account, which will then transfer the funds to Gradual Growth Savings.
Yes, you can. For example, part of the deposit may be made in cash, and another part transferred from a different foreign currency account held at AIK Banka via electronic banking. The deposit to Gradual Growth Savings will occur once you have provided the full agreed monthly deposit amount.
