Citi Handlowy Enriches Its Offer with ’TurboPercent Time Deposit’
Warsaw – In line with its earlier announcements, Citi Handlowy introduces yet another innovation to its deposit offer. The holders of the one-month TurboPercent Time Deposit can increase the basic interest rate of their deposit from 4% to as much as 18% per annum by making non-cash transactions with the use of their debit cards linked to their personal accounts. With each PLN 500 spent (US$150) in the form of non-cash transactions the interest rate on the deposit is increased by 1 percentage point.
That’s a unique solution in the Polish market. “We reward loyal and active customers using their personal accounts with Citi Handlowy with percentage points on the ’Lokata TurboProcent,’” said Iwona Brzozowska, Head of Retail Products Management and Brokerage Services Division. “The interest rate offered by the new deposit largely depends on the customers themselves. It is up to them to decide how much they want to earn on their deposit at maturity.”
The basic interest rate on the ’Lokata TurboProcent’ is 4% per annum. Additionally, with each PLN 500 spent in the form of non-cash transactions booked during the term of the deposit and made with a debit card linked to a personal account, the interest rate on the ’Lokata TurboProcent’ increases by 1 percentage point per annum.
“If the customer spends PLN 1,500 on the debit card linked to his personal account, the interest rate on his deposit increases to as much as 7% per annum. Each subsequent payment made with his debit card contributes to increasing the interest rate by more percentage points,” explained Iwona Brzozowska.
The maximum interest rate on the ’Lokata TurboProcent’ is 18% and cannot exceed the fourfold lombard rate of the National Bank of Poland.
“A debit card linked to a personal account with Citi Handlowy gives a ’turbo boost’ to the new deposit,” said Iwona Brzozowska. “We encourage our customers to change their habits and to use their debits cards linked to their personal accounts to pay for purchases as often as possible. As a result, their profit from the Lokata TurboProcent can very quickly reach the maximum, i.e. 18% per annum. That’s a perfect solution, especially for those Citi Handlowy customers who have a joint account with their spouse or children, as payments made with additional debit cards linked to the personal account can considerably accelerate the process of earning percentage points on the one-month deposit.”
The customers of Citi Handlowy can open the Lokata TurboProcent in Citi Handlowy branches. The minimum investment amount is only PLN 500. The maximum investment amount for the Lokata TurboProcent is capped at PLN 10,000. Cash withdrawals as well as transactions made in casinos, via the Internet and abroad do not contribute to increasing the interest rate on the deposits. The time covered is one month. Upon maturity, the ’Lokata TurboProcent’ can be automatically renewed.
Deposits made with Citi Handlowy (Bank Handlowy w Warszawie S.A.) are guaranteed by the Bank Guarantee Fund. Interest Rate Tables are available at www.citihandlowy.pl.
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