NBU explained which deposits can be withdrawn early

18 June 2015 15:53  25101493 0102513
NBU explained which deposits can be withdrawn early

The National Bank welcomes the entry into force of the law on term deposits and again reiterates that its provisions apply only to new deposit agreements.

This was reported by the press service of the regulator on its page in Facebook.


"The new rules for the return of deposits under new deposit agreements come into effect today. These changes are introduced in accordance with the law "On amendments to some legislative acts of Ukraine on the terms of repayment of term deposits", which was adopted by the Parliament on May 14," - the statement reads.

The new rules give the depositor the right to choose a clearly defined type of deposit agreement - "term" or "on demand".

"From now on, early repayment of a term deposit and accrued interest on this deposit shall be possible only if envisaged under the term deposit agreement. Repayment of a deposit or a part of it on demand shall be possible only under the "on demand" deposit agreement," - the press service noted.

In addition, the National Bank stresses that the rule applies only to bank term deposit agreements concluded after the entry into force of the law.

"The adoption of this law is a win-win situation. These changes will allow natural persons to more effectively manage their own savings and investments", - the deputy head of the NBU Vladislav Rashkovan said.


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