Alpha Bank Cyprus Introduces New High-Yield Deposit Product
In a strategic move to attract savers seeking more lucrative returns, Alpha Bank Cyprus has unveiled a new deposit product that promises a fixed deposit rate of 2.50 percent annually. This offering is tailored for time deposits that exceed the threshold of €70,000 and are locked in for a period of twelve months.
The announcement from the bank emphasized its commitment to providing customers with opportunities to augment their savings. “With a focus on offering increased returns, Alpha Bank provides customers with the opportunity to enhance the yield of their twelve-month time deposits exceeding €70,000, with a stable annual interest rate of 2.50%,” the bank conveyed.
At the conclusion of the one-year term, customers are presented with flexible options. They can choose to withdraw their funds, add more capital to their existing deposit, or opt to renew it, thereby taking advantage of the accrued interest. This flexibility is part of the bank’s customer-centric approach to banking services.
Alpha Bank’s ‘Alpha Time Deposits’ series further caters to diverse customer needs by offering additional fixed-rate options. For those committing their funds for longer periods, the bank provides an annual interest rate of 1.60 percent for eighteen-month deposits and 1.50 percent for twenty-four-month deposits, provided these exceed €50,000.
It is important for potential depositors to note that the interest offered is non-compounded and will be paid out at the maturity of the time deposit. This feature underscores the straightforward nature of the product, ensuring savers have a clear understanding of their return on investment.
For individuals interested in exploring these financial products and understanding the full terms and conditions, Alpha Bank Cyprus encourages visiting their website at www.alphabank.com.cy. The site provides detailed information and the necessary resources for making informed decisions regarding time deposits.
