Want to Deposit your Money for a Fixed Term?
How does it work?
Opening an Easisave Fixed Term Deposit can only be done online. In order to open an Easisave Fixed Term Deposit you must already have an activated Easisave Savings Account.
Once logged onto your online account, you must (i) choose from which Easisave Savings Account (in case you have more than one) you will retrieve the funds to be placed into your Fixed Term Deposit, (ii) enter the amount which you want to place into your Fixed Term Deposit (minimum amount of €1000/$1000), (iii) select the duration you want to invest your money for (Fixed Terms for 3 months, 6 months, 9 months, 1 year, 2 years or 3 years are available), (iv) select whether you want to receive your interest quarterly, annually or on maturity as applicable and (v) agree to the Easisave and FIMBank's Terms and Conditions.
On maturity, the funds placed in your Fixed Term Deposit will be sent back to your linked Easisave Savings Account. If upon opening your linked Easisave Savings Account you had requested that tax on interest be withheld, then the interest payable on your Easisave Fixed Term Deposit will also have tax deducted.
If upon maturity, you want to re-invest your money for another fixed period, you will need to open a new Easisave Fixed Term Deposit by following the procedure listed above in (i)-(v).
Details of an Easisave Fixed Term Deposit:
|Currency||€ (EUR)/ $ (USD)|
|Type||Individual or Joint Fixed Term Deposit|
|Interest rate||Fixed (Rates offered may be changed at FIMBank’s discretion)|
|Applicable interest rate||Dependent on term funds are being fixed for|
|Interest payable||Quarterly, Annually or on Maturity as applicable|
|Withholding Tax||Dependent on the declaration made when opening the Easisave Savings Account which is being used as source of funds for the Easisave Fixed Term Deposit|
|Maximum amount||Not applicable|
|Withdrawals||No breakages of term deposits are allowed|
|Incoming transfer of funds||From Easisave Savings Account & Free of Charge|
|Outgoing transfer of funds||To Easisave Savings Account & Free of Charge|