[TBC Bank] Terms & Conditions

Other Conditions

Account opening and transactions - free of charge;
Minimum balance on the Term Deposit account is 1,000 USD, GEL, Euro or GBP.
The amount deposited on the term deposit account can not be increased under the same agreement;
In the event of premature cancellation of agreement the deposit will accrue 4% less interest than it would have for the actual period from the date of opening till the date of termination.(Already withdrawn interest yield will be deducted from the principal sum.)
Interest accrued is not subject to taxation, unless the owner of the deposit is a licenced financial institution.

Note!
In order to open Savings or Term Deposit accounts, you need to open a Corporate Current Account first.

After the expiration of the deposit term:

a. You can choose your deposit to be transferred to a special savings account, with the savings account interest rate accrued on it; or
b. You can choose to have your deposit automatically prolonged for another three month term. In this case, you will still be able to withdraw the deposit amount within 2 weeks after the expiration of the term; or
c. You can choose your deposit to be automatically prolonged for the same period as it was initially deposited. In this case, you will still be able to withdraw the deposit amount within 2 weeks after the expiration of the term.
In the instances "b" and "c," the new deposit date will coincide with the date of expiration of the previous deposit, while the interest accrued shall be either capitalized or transferred to a separate account.