A client deposits funds to a bank deposit account. Under the terms of the agreement, the bank is obliged to save and return the funds received, and then to pay the agreed amount of interest for using them. Assets may be funds or precious metals.
The profitability depends on the deposit currency. Deposits in UAH allow you to get the most income due to high interest rates.
Now, from income on deposits, depositors must pay 19.5% of taxes to the state budget. Of these, 18% is the personal income tax, 1.5% is the military levy.
Deposit Guarantee Fund is regulated by the Law of Ukraine “On the Individual Deposits Guarantee System". Today, almost all banks in Ukraine, including JSC “JSCB KONKORD" (JSC “JSCB KONKORD" certificate of the Fund's participant No. 184 dated 22.11.2012), are its participants.
According to the Law of Ukraine No. 2180-IX of 01.04.2022, during the period of martial law in Ukraine and three months from the date of termination or cancellation of martial law in Ukraine the Fund reimburses each depositor of the bank the funds in the full amount of the deposit, including interest accrued as of the end of the day, which precedes the day of the start of the procedure for the bank’s exit from the market, except for the cases provided for by part four of article 26 of the Law of Ukraine "On the Deposit Guarantee System for individuals".
After the expiration of three months from the date of termination or cancellation of martial law in Ukraine, the amount of the maximum reimbursement of funds on deposits cannot be less than 600 thousand hryvnia and can be increased by decision of the administrative council of the Fund.
From the income of the client, the personal income tax
deducted at the rate of 18% of income and the military fee of 1.5% of income
ConcordBank is a permanent participant of the Guarantee Fund for Individuals' Deposits (Certificate No. 193 dated January 18, 2007)
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Significant characteristics of term deposits
1. When re-issuing a deposit at a bank branch - the rate increases by 0,3% in national currency and by 0,1% in foreign currency with simultaneous fulfilment of conditions:
2. Loyalty programs apply to "Classic +" and "Savings" deposits, except for "Classic +" for a period of 1 month and "Savings" for a period of 1 month.
Warning about possible consequences for the depositor when using the bank deposit service.