Common use of Term Deposits Clause in Contracts

Term Deposits. 8.1 From time to time either via its Website or directly to a Client the Bank may make offers for the opening of a Term Deposit. Such offers qualify as "Product Conditions". The Bank is only obliged to open a Term Deposit if the Client has accepted these Product Conditions without reservations In Writing, via the Internetservice or per telephone. In that case the Bank shall as soon as possible open that Term Deposit and shall block the agreed Deposit Amount. Term Deposits are always connected to a Savings Account. The Bank reserves the right to reject Term Deposits below a minimum amount as established by the Bank. 8.2 During the Deposit Term Deposit Interest accrues on a daily basis and is calculated on the basis of 365 days per calendar year, in case of a leap year this is 366 days. Deposit Interest is credited on the interest dates agreed in the relevant Agreement or Product Conditions, in the currency in which the Term Deposit was opened and calculated over the actual Deposit Amount. 8.3 If the Client requests the Bank to cancel the Term Deposit against the last day of the Deposit Term, the Client can freely dispose of the Deposit Amount and the accrued Deposit Interest at the end of the Deposit Term in the currency in which the Term Deposit was opened, except in case of extension or interruption of the Deposit Term. 8.4 In case before the end of the Deposit Term the Bank has not received a request from the Client to release the Deposit Amount, then the Deposit Amount, including any accrued Deposit Interest, will be automatically extended under a new Term Deposit with an equal Deposit Term against the Deposit Interest then offered by the Bank for this kind of Term Deposits. The new Term Deposit can be cancelled with immediate effect within 14 days from the commencement of the new Deposit Term. The Bank is not obliged to notify the Client of the end of a Deposit Term. 8.5 Except in case of the situations described in Clause 8.7, none of the Clients is entitled to cancel a Term Deposit against a date other than the last day of the Deposit Term, nor is any of the Clients, except in case of the below situations, entitled to dispose of all or a part of the Deposit Amount and the accrued Deposit Interest before the end of the Deposit Term. 8.6 In case a Client due to the occurrence of any of the events described in Clause 8.7, wants to dispose of part or all of the Deposit Amount before the end of a Deposit Term, that Client is over that prematurely claimed part of the Deposit Amount only entitled to receive Deposit Interest against a percentage as was offered by the Bank at the opening of that Term Deposit for a Deposit Term equal to the period between the date of opening of that prematurely terminated Term Deposit and the date on which the Client requested for premature release of (a part of) the Deposit Amount. In case that period amounts to X years and less than or exactly 6 months, then this period for the recalculation of the Deposit Interest will be rounded of to X years. In case that period amounts to X years and more than 6 months, that period will be rounded of to the next number of whole years. 8.7 Only in case any of the below exception events occurs, is the Client (or in case of a Joint Savings Account one of the Clients) or its heirs, after a written request to the Bank (and together with submission of the below documents of evidence) entitled to freely dispose of the Deposit Amount as soon as possible, over which amount the Bank shall credit the Deposit Interest calculated in accordance with Clause 8.6 up to the date of that written request: (i) purchase of a house for own use, to be evidenced by a copy of a signed irrevocable purchase contract; (ii) marriage, to be evidenced by a copy of the marriage deed; (iii) death, to be evidenced by a copy of the death certificate (also see below under ▇▇▇▇▇▇ 9); (iv) work disability, to be evidenced by a doctor's statement; and (v) unemployment, to be evidenced by a statement from a social security organization.

Term Deposits. 8.1 From time to time either via its Website or directly to a Client the Bank may make offers for the opening of a Term Deposit. Such offers qualify as "Product Conditions". The Bank is only obliged to open a Term Deposit if the Client has accepted these Product Conditions without reservations In Writing, via the Internetservice or per telephone. In that case the Bank shall as soon as possible open that Term Deposit and shall block the agreed Deposit Amount. Term Deposits are always connected to a Savings Account. The Bank reserves the right to reject Term Deposits below a minimum amount as established by the Bank. 8.2 During the Deposit Term Deposit Interest accrues on a daily basis and is calculated on the basis of 365 days per calendar year, in case of a leap year this is 366 days. Deposit Interest is credited on the interest dates agreed in the relevant Agreement or Product Conditions, in the currency in which the Term Deposit was opened and calculated over the actual Deposit Amount. 8.3 If the Client requests the Bank to cancel the Term Deposit against the last day of the Deposit Term, the Client can freely dispose of the Deposit Amount and the accrued Deposit Interest at the end of the Deposit Term in the currency in which the Term Deposit was opened, except in case of extension or interruption of the Deposit Term. 8.4 In case before the end of the Deposit Term the Bank has not received a request from the Client to release the Deposit Amount, then the Deposit Amount, including any accrued Deposit Interest, will be automatically extended under a new Term Deposit with an equal Deposit Term against the Deposit Interest then offered by the Bank for this kind of Term Deposits. The new Term Deposit can be cancelled with immediate effect within 14 days from the commencement of the new Deposit Term. The Bank is not obliged to notify the Client of the end of a Deposit Term. 8.5 Except in case of the situations described in Clause 8.7, none of the Clients is entitled to cancel a Term Deposit against a date other than the last day of the Deposit Term, nor is any of the Clients, except in case of the below situations, entitled to dispose of all or a part of the Deposit Amount and the accrued Deposit Interest before the end of the Deposit Term. 8.6 In case a Client due to the occurrence of any of the events described in Clause 8.7, wants to dispose of part or all of the Deposit Amount before the end of a Deposit Term, that Client is over that prematurely claimed part of the Deposit Amount only entitled to receive Deposit Interest against a percentage as was offered by the Bank at the opening of that Term Deposit for a Deposit Term equal to the period between the date of opening of that prematurely terminated Term Deposit and the date on which the Client requested for premature release of (a part of) the Deposit Amount. In case that period amounts to X years and less than or exactly 6 months, then this period for the recalculation of the Deposit Interest will be rounded of to X years. In case that period amounts to X years and more than 6 months, that period will be rounded of to the next number of whole years. 8.7 Only in case any of the below exception events occurs, is the Client (or in case of a Joint Savings Account one of the Clients) or its heirs, after a written request to the Bank (and together with submission of the below documents of evidence) entitled to freely dispose of the Deposit Amount as soon as possible, over which amount the Bank shall credit the Deposit Interest calculated in accordance with Clause 8.6 up to the date of that written request: (i) purchase of a house for own use, to be evidenced by a copy of a signed irrevocable purchase contract; (ii) marriage, to be evidenced by a copy of the marriage deed; (iii) death, to be evidenced by a copy of the death certificate (also see below under ▇▇▇▇▇▇ Clause 9); (iv) work disability, to be evidenced by a doctor's statement; and (v) unemployment, to be evidenced by a statement from a social security organization. 8.8 In case the Client (or in case of a Joint Savings Account one or more of the Clients) dies, the Bank is entitled to terminate the Term Deposit before the end of the Deposit Term with immediate effect against the date of death of the Client, or against any other later date chosen by the Bank. In that case the Bank is only obliged to pay the Deposit Interest up to and including the date of termination of the Term Deposit by the Bank.

Term Deposits. 8.1 From time to time either via its Website or directly to a Client the Bank may make offers for the opening of a Term Deposit. Such offers qualify as "“Product Conditions"”. The Bank is only obliged to open a Term Deposit if the Client has accepted these Product Conditions without reservations In Writing, via the Internetservice or per telephone. In that case the Bank shall as soon as possible open that Term Deposit and shall block the agreed Deposit Amount. Term Deposits are always connected to a Savings Account. The Bank reserves the right to reject Term Deposits below a minimum amount as established by the Bank. 8.2 During the Deposit Term the Bank shall credit the Deposit Interest accrues on a daily basis and is to the Term Deposit calculated on over the basis of 365 days per calendar year, in case of a leap year this is 366 daysactual Deposit Amount. Deposit Interest is credited on the interest dates agreed in the relevant Agreement or Product Conditions, Conditions and in the currency in which the Term Deposit was opened and calculated over the actual Deposit Amountopened. 8.3 If the Client requests the Bank to cancel the Term Deposit against the last day of the Deposit Term, the Client can freely dispose of the Deposit Amount and the accrued Deposit Interest at the end of the Deposit Term in the currency in which the Term Deposit was opened, except in case of extension or interruption of the Deposit Term. 8.4 In case before the end of the Deposit Term the Bank has not received a request from the Client to release the Deposit Amount, then the Deposit Amount, including any accrued Deposit Interest, will be automatically extended blocked under a new Term Deposit with an equal Deposit Term against the Deposit Interest then offered by the Bank for this kind of Term Deposits. The new Term Deposit can be cancelled with immediate effect within 14 days from the commencement of the new Deposit Term. The Bank is not obliged to notify the Client of the end of a Deposit Term. 8.5 Except in case of the situations described in Clause 8.7, none of the Clients is entitled to cancel a Term Deposit against a date other than the last day of the Deposit Term, nor is any of the Clients, except in case of the below situations, entitled to dispose of all or a part of the Deposit Amount and the accrued Deposit Interest before the end of the Deposit Term. 8.6 In case a Client due to the occurrence of any of the events described in Clause 8.7, wants to dispose of part or all of the Deposit Amount before the end of a Deposit Term, that Client is over that prematurely claimed part of the Deposit Amount only entitled to receive Deposit Interest against a percentage as was offered by the Bank at the opening of that Term Deposit for a Deposit Term equal to the period between the date of opening of that prematurely terminated Term Deposit and the date on which the Client requested for premature release of (a part of) the Deposit Amount. In case that period amounts to X years and less than or exactly 6 months, then this period for the recalculation of the Deposit Interest will be rounded of to X years. In case that period amounts to X years and more than 6 months, that period will be rounded of to the next number of whole years. 8.7 Only in case any of the below exception events occurs, is the Client (or in case of a Joint Savings Account one of the Clients) or its heirs, after a written request to the Bank (and together with submission of the below documents of evidence) entitled to freely dispose of the Deposit Amount as soon as possible, over which amount the Bank shall credit the Deposit Interest calculated in accordance with Clause 8.6 up to the date of that written request: (i) purchase of a house for own use, to be evidenced by a copy of a signed irrevocable purchase contract; (ii) marriage, to be evidenced by a copy of the marriage deed; (iii) death, to be evidenced by a copy of the death certificate (also see below under ▇▇▇▇▇▇ 9); (iv) work disability, to be evidenced by a doctor's ’s statement; and (v) unemployment, to be evidenced by a statement from a social security organization.