Rendimento time deposit is a financial instrument exclusively in Kwanzas with guaranteed interest rate.
• Individual customers: Kz 500,000;
• Companies and institutionals: Kz 1,000,000.
The amounts deposited in Rendimento accounts may be increased by minimum amounts of Kz 250,000 or multiples of this amount.
Rendimento deposits may be set up with the following terms:
• 30 Days;
• 60 Days;
• 90 Days;
• 180 Days;
To open a Rendimento account customers are required to fill in an "Investment Intent Form" form with the chosen maturity, the interest rate and the amount of the investment.
VALUE DATE OF THE INVESTMENT
The bank sets as the value date of the investment a day falling within a maximum period of six days after the Investment Intent Form has been filled in.
GUARANTEED INTEREST RATE
The definitive interest rate will be fixed on the day of the opening of the account, even though an indicative rate is communicated at the time the Investment Intent Form is filled in.
Any withdrawals prior to the deposit’s maturity must be communicated to Banco Económico 30 days in advance. In the case of early withdrawals, interest is calculated as follows:
• j(a)* = maximum 50%;
•(nº of days elapsed / total nº of days).
ENOUGH FUNDS IN THE ACCOUNT
The account linked to Rendimento account must have enough funds up toone day prior to the value date of the investment.