18-Month Term Deposit
Looking for a secure way to grow your savings? The 18-Month Tiered-Interest Term Deposit is the ideal choice for you because your interest rate increases gradually throughout the term of the deposit.
Why Choose This Deposit?
Earn more over time. This deposit gives you the opportunity to maximize your savings as time goes on. Your interest rate steps up every 6 months, so the longer your money stays deposited, the higher your return.
Smart medium-term saving. The 18-month term is a great option when you are saving for a near-term goal while taking advantage of growing interest rates.
Key details
- 18-month term
- Interest rate increases every 6 months
- Interest paid directly to your account every 6 months
- Minimum opening deposit: 500,000 ALL or 500 EUR
- No maximum deposit limit
Interest rates
| LEK | The First 6-Month Period | The Second 6-Month Period | The Third 6-Month Period |
|---|---|---|---|
| Up to 5,000,000 Lekë | 0.50% | 0.70% | 3.90% |
| Over 5,000,000 Lekë | 0.60% | 0.80% | 4.30% |
| EUR | The First 6-Month Period | The Second 6-Month Period | The Third 6-Month Period |
|---|---|---|---|
| Up to 50,000 | 0.10% | 0.50% | 1.20% |
| 50,001-100,000 | 0.35% | 0.55% | 2.70% |
| Over 100,000 | 0.55% | 0.75% | 3.00% |
Interest earned on this deposit is subject to withholding tax in accordance with applicable legislation.
What You Need?
- Valid ID card or passport
Other Terms & Conditions
- Early Closure: If you close the deposit before maturity, you will only earn interest for any fully completed 6-month periods. No interest is earned for incomplete 6-month periods.
- Partial Withdrawals: Partial withdrawals of the deposited amount are not allowed during the deposit term.
- Additional Deposits: The account can only be funded at the time of opening; no additional deposits can be made during the term.
- No Automatic Renewal: The deposit does not renew automatically. At the end of the 18-month term, your principal along with the interest earned during the final 6-month period will be credited to your current account.
Deposits of individual clients at OTP Bank Albania are insured up to the amount of 2,500,000 (two million five hundred thousand) ALL by the Deposit Insurance Agency (ASD) in accordance with Law No. 53/2014 "On Deposit Insurance" – http://asd.gov.al