Rendimento ME time deposit is a financial instrument with guaranteed rates exclusively in U.S. dollars.
• Individual customers: US$ 10,000;
• Companies and institutionals: US$ 50,000.
Rendimento ME deposits may be increased by the following minimum amounts:
• Individual customers: US$ 5,000 or multiples;
• Companies and institutionals: US$ 10,000 or multiples.
Rendimento ME deposits may be set with the following terms:
• 1 month;
• 3 months;
• 6 months;
• 9 months;
• 12 months.
To make an investment in a Rendimento ME account, customers are required to fill in an Account opening form with the chosen term, the interest rate and the amount of the investment.
VALUE DATE OF THE INVESTMENT
The value date of the investment is the spot value date (2 working days) of the day when the Rendimento ME account was opened.
GUARANTEED INTEREST RATE
The guaranteed rate will be set on the day the account is opened. The actual rate will be given net of other banking expenses depending on the amounts invested.
Any withdrawals prior to the deposit’s maturity must be communicated to Banco Económico through a previous notice. In the case of early withdrawals, interest is calculated as follows:
• j(a)* = maximum 50%;
• (nº of days elapsed / total nº of days);
• with j(a) is the interest rate contracted.
ENOUGH FUNDS IN THE ACCOUNT
The account linked to Rendimento ME account must have enough funds up to one day prior to the value date of the investment.