| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
Banque Saudi Fransi - Time Deposit
|
Minimum Deposit Required: SAR 50,000 | Annual Return: 1.55% | Annual Fee: SAR 0 | Choice of Terms: - | Features: Multiple Currencies |
The time deposit allows you to save and grow your money for a set period of time.
Features & Benefits:
- A higher return than other types of account
- Guaranteed rate of return*
- Various possible terms and the option of extending the term on maturity
- No maximum amount
- Account in Saudi Riyal or foreign currencies
- Two business days notice to prevent account rollover
- Authorised Letter of Credit (LC) and Letter of Guarantee (LG) facilities
Requirements:
- A valid ID.
- Fill in the current account opening form.
- Fill in the term deposit application.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
