The shockwaves caused by Kovid-19 and the events in Ukraine worldwide have led to a desire to diversify savings instruments. However, the alternatives do not guarantee the security and predictable returns typical of traditional fixed-rate deposits. Despite the context of unfavorable conditions on deposits in our country, TBI Bank expands its portfolio with a new savings solution for consumers looking for a balance between maturity and profitability.
The Bulgarian clients of the bank will now be able to take advantage of the new 15-month deposit with a market-leading interest rate of 1%, without additional fees and commissions. This is one of the best offers in the country, as the funds up to 100,000 euros are protected by the Bank Deposit Guarantee Fund. The product, available to both new and existing customers, is designed for consumers who do not want a long-term commitment, but are looking for a good return. There are no fees for opening, maintenance and top-up, nor a penalty interest rate if the depositor needs his funds before maturity and chooses early termination.
–
photo: TBI Bank
–
In addition to the new deposit product, customers can take advantage of other competitive offers from TBI, such as the 36-month deposit with 1.3% annual interest, which provides a longer-term opportunity for consumers to take care of their savings. Since April, the tax on interest income for local individuals has been abolished, so what customers see as proposed interest on deposits is what they actually receive.
Our new savings offer comes amid speculation about the “death of the deposit.” Many banks have taken a step back by raising their fees, introducing commissions and zero interest rates, or even phasing out deposits“, said Lucas Tursa, senior vice president of TBI Bank. “As one of the most profitable financial institutions in Bulgaria in recent years, we always strive to offer favorable interest rates on deposits and 2022 will be no exception. Our goal is to be the most preferred place for the savings of Bulgarian investors, providing them with good returns, simple and flexible products, supported by excellent customer service.”
–
photo: TBI Bank
–
In 2021, deposits of individuals in the bank increased by nearly 28% compared to an annual overall market growth of 9% on household deposits, according to BNB data. The past year also marked exceptional financial results in all business areas for TBI, which is traditionally one of the most efficient and profitable banking institutions in the country.
* TBI content
–
