Savings management

Savings accounts in forint and foreign currency


Forint corporate savings account

Interest

The Forint savings account bears tierhold daily floating interest; OTP Bank pays interest on the end-of-the day total balance at a rate defined for each tier.

Interest is credited directly to the Forint savings account with a frequency (monthly/quarterly) identical with that of interest settlement on the current account.

Term

The Forint savings account is a demand account, i.e. the funds deposited on it are freely available at any time The savings period is for an indefinite term.

Transactions that can be conducted on the account

The following saving-related transactions may be conducted on the savings account:

Withdrawal from savings

  • With a one-off, standing or future value date instruction for transfer to a HUF and/or FX account kept within OTP Bank

How to add to your savings?

  • By way of crediting transfers from any HUF and/or FX account inside or outside the bank
  • By way of book transfers between own accounts
  • By way of HUF or FX cash deposits made at any branch
  • By way of cash deposits made at any post office using a cheque

Other features

  • Neither a bank card nor a credit limit linked to the account can be requested nor can a time deposit be linked to it.
  • The account may be invalidated and blocked (as credit collateral).

Minimum amount required for account opening

No minimum amount is required to be deposited in order for an account to be opened Accordingly, any amount can be kept on the account; it is not terminated automatically even if its balance is zero.

Account management

Choose the most convenient way of accessing your savings account. Below are the options:

  • through your account-keeping branch,
  • electronically, via either OTPdirekt Internet-based service or OTP Electra Terminal
  • by making cash deposits at any OTP branch or
  • at any post office

Charges and fees

Upon withdrawals from your savings i.e. whenever an intrabank transfer is made in addition to the related payment transaction commission a separate transactional fee is also charged.

All fees, charges and commission fees related to transactions are debited to your company’s HUF cash flow account simultaneously with the settlement of costs (quarterly/monthly). The only exception to this is the immediately due commission and feesthat are debited to the Forint savings account upon their incurrence. Such immediately due fees include, e.g. the cost of FX deposits and the crediting fee of FX amounts transferred by foreign or other domestic banks.

EUR and USD corporate savings account

Interest

The FX savings account bears threshold, floating interest; OTP Bank pays interest on the end-of-the day total balanceof the accountat a rate defined for each tier. Interest is credited directly to the savings account.

Term

The FX savings account is a demand account, i.e. the funds deposited on it are freely available at any time. The savings period is for an indefinite term.

Transactions conducted on the account

The following saving-related transactions may be conducted on the savings account:

Withdrawal from savings

  • With a one-off instruction for transfer to a HUF and/or FX account kept with OTP Bank

How to add to your savings?

  • By way of crediting transfers from any HUF and/or FX account inside or outside the bank
  • By way of HUF or FX cash deposits made at any branch

Conditions for account opening

The condition for the use of an OTP FX savings account is a EUR or USD account kept with OTP Bank. Your company can open several savings accounts in EUR or USD.

No minimum amount is requiredto be deposited for an account to be opened. There is no restriction on the amount of the funds on the account: they can be freely transferred, credited and deposited in forint or any other currency; it is not terminated automatically even if its balance is zero.

The savings account can be accessed in a manner that best suits the needs of the company:

  • at account-keeping branch: account opening, cash deposits, transfers, termination of account
  • via electronic channels, using the OTPdirekt Internet-based service or the client terminal
  • HUF deposits can be made at any OTP branch, while FX deposits only at designated branches

Other features

  • No credit limit linked to the account is available. Nor can a time deposit be placed on it.
  • The account may be both invalidated and blocked (e.g. as credit collateral).
  • Unless your company stipulates otherwise, a bank statement on the transactions on your savings account is prepared monthly.

Costs and fees

No account-keeping fee is charged.

Separate charges for book transfers to the credit of the company’s EUR or USD account and fees charged for cash deposits are debited to the FX savings account.

Forint time deposit

Placement of deposit

Time deposits are placed on the basis of your written instruction. You need not keep an account with the Bank in order to be able to place a time deposit.

If your company already has a bank account as well as a contract for the use of the OTPdirekt Internet-based service or the OTP Electra Terminal, you can also submit electronic transaction orders in order to reallocate and place your unused funds as a time deposit.

Types of deposits

Depending on the manner of interest bearing, the Bank offers various ways of placing deposits, taking into account the needs of your company.

Minimum deposited amount

The minimum amount specified in the List of Business Terms and Conditions or any amount in excess of such amount may be placed as a time deposit.

Interest paid on deposits

The prevailing interest rates applicable to time deposits are published in the List of Business Terms and Conditions. The interest paid on the deposit depends on

  • the amount of the deposit,
  • the manner of interest bearing (fixed or variable) and
  • the term of the deposit.

The first day of interest calculation is the start date of the placement of the deposit and the last day is the day preceding the maturity date of the deposit. The interest earned on time deposits is settled at the maturity date (renewal date) of the deposit.

Above HUF 30 million OTP Bank offers special interest rates.

FOREX time deposit

Placement of deposit

Based on the company’s written instruction, time deposits can be placed in the currency (USD, CHF, GBP, CAD, SEK, JPY, EUR) of your company’s FOREX account.

Types of deposits

The Bank offers various fixed rate deposits, adjusting them to the needs of your company. Fixed rate interest remains unchanged during the term.

Interest paid on deposits

The prevailing interest rates applicable to time deposits are published in the List of Business Terms and Conditions

The interest paid on the deposit depends on

  • the amount of the deposit and
  • the term of the deposit.

The first day of interest calculation is the start date of the placement of the deposit and the last interest day is the day preceding the maturity date of the deposit. The interest earned on the fixed deposits is settled at the maturity date (renewal date) of the deposit.


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