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Online bank Nemea introduces new 4% term deposit
Nemea maintains its highly attractive 4.00% interest rate for 5-year term deposits and rewards clients who choose medium term savings plans
20 February 2015, 3:23pm
Staff Reporter
Staff Reporter
1 min read
Nemea Bank is introducing new term deposit rates across the wide spectrum of term deposit products it offers.
The overriding principle in the new term deposit rates is to reward medium term savings plans by maintaining its highly competitive rates for maturities of over 2 years, including retaining its exceptional 4.00% rate for 5-year term deposit accounts.
Nemea anticipates high demand for its medium term savings plans as European savers continue to look for the best opportunities to deposit their hard-earned savings, earning a high yield for a guaranteed return.
As an online bank at the forefront of the direct banking revolution, Nemea Bank is able to continue offering highly attractive rates throughout Europe due to its smart investment strategy and lean operations structure.
| TERM MATURITY | NEW RATE |
|---|---|
| 1 month | 1.05% |
| 3 months | 1.15% |
| 6 months | 1.25% |
| 1 year | 2% |
| 2 years | 2.5% |
| 3 years | 3% |
| 4 years | 3.5% |
| 5 years | 4% |
Martin Chetcuti, Head of Sales and Deposits for Nemea Bank, commented: “as an online bank with a lean, innovative structure and business model, we take pride in offering rates that compete exceptionally across all markets within the EU/EEA area, across borders, jurisdictions and currencies. We encourage savers to take advantage of this opportunity to earn very attractive guaranteed returns.”
Nemea Bank’s term deposit accounts are fully protected by the EU Depositor Compensation Scheme.
