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Dear customer,
Due to changed market circumstances, ICBC (Europe) S.A. Amsterdam Branch announces that the interest rate (EUR) for the callable saving account and 3, 6 and 12 months time deposits will be changed as of 2 December 2013.
At the same time ICBC (Europe) S.A. Amsterdam Branch introduces interest rates for 2 , 3 , 4 and 5 years EUR and CNY time deposits. The accrued interest for these longer term time deposits will be paid to the payment account on a yearly basis. Please find the following table for more details.
The interest rates regarding callable saving accounts, time deposit account denominated in other currencies (USD & CNY) will remain unchanged.
Please review our webpage’s “Saving & Deposits” and “Personal FX” for further product information and conditions.
| Account Type
|
CCY
|
Term
|
Old Nominal Rate
|
Old Effective Rate
|
New Nominal Rate
|
New Effective Rate
|
| Saving Account |
EUR
|
- |
1.85%
|
1.89%*
|
1.65%
|
1.69% *
|
| Time Deposit
|
EUR
|
3M
|
1.85%
|
1.88%
**
|
1.65%
|
1.67% **
|
| Time Deposit |
EUR
|
6M |
1.90% |
1.94%** |
1.70% |
1.72% ** |
| Time Deposit |
EUR
|
12M |
2.00% |
2.03%** |
1.80% |
1.83% ** |
| Time Deposit |
EUR
|
2Y |
- |
- |
2.00% |
2.03% ** |
| Time Deposit |
EUR
|
3Y |
- |
- |
2.10% |
2.13% ** |
| Time Deposit |
EUR
|
4Y |
- |
- |
2.20% |
2.23% ** |
| Time Deposit |
EUR
|
5Y |
- |
- |
2.30% |
2.33% ** |
| Time Deposit |
CNY
|
2Y |
- |
- |
2.50% |
2.53% ** |
| Time Deposit |
CNY
|
3Y |
- |
- |
2.60% |
2.64% ** |
| Time Deposit |
CNY
|
4Y |
- |
- |
2.70% |
2.74% ** |
| Time Deposit |
CNY
|
5Y |
- |
- |
2.90% |
2.94% ** |
We trust to have informed you sufficiently,
*Our interest calculation is based on a 365/360 days interest basis and as the interest for saving account is paid at the end of each calendar month you can benefit from a compounded interest. Your effective interest rate can rise up to 1.69%.
** Our interest calculation is based on a 365/360 days interest basis, your effective interest rate is higher than the nominal interest rate.
ICBC (EUROPE)
S.A.
Amsterdam
Branch
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