[TBC Bank] Terms & Conditions

1. Account opening and transactions - free of charge;
2. Only retail customers can open Term Plus deposit;
3.The minimum balance for the Term Plus deposits is 1,000 USD, GEL or EUR;
4. Additional deposited amount can be as low as 500USD, GEL or EUR, and shall also accrue the interest (according to the table) of the term that is remained from the installment date until the maturity;
5.Additional deposit made within the last 2 months before the maturity shall accrue interest similar to that of a savings deposit. Appropriate annual interest, given in the table is applied for the additional deposits within 2-3 months term before expiration date;

6. Interest accrued on deposit is not subject to taxation;

7. Besides the cash operations, internal transfers and Internet Banking transactions are acceptable to make additional deposits on the Term Plus deposit;
8. In the event of premature cancellation of agreement the deposit will accrue 4% less interest than it would have for the actual period from the date of opening till the date of termination (Already withdrawn interest yield will be deducted from the principal sum).

When opening time deposits, individuals are granted the following options:

After the expiration of the deposit term:
a. They can choose their deposit to be transferred to a special savings account, with the savings account interest rate accrued on it; or
b. They can choose to have their deposit automatically prolonged for another three month term. In this case, the client will still be able to withdraw the deposit amount within 2 weeks after the expiration of the term; or
c. They can choose their deposit to be automatically prolonged for the same period as it was initially deposited. In this case, the client will still be able to withdraw the deposit amount within 2 weeks after the expiration of the term.
In the instances "b" and "c," the new deposit date will coincide with the date of expiration of the previous deposit, while the interest accrued shall be either capitalized or transferred to a separate account.

Important Information:
Any term deposit holder is allowed to take out a loan from "TBC Bank" at deposit interest rate + 4% annual yield. e.g. if deposit annual interest rate is 8.5%, a loan can be granted at 8.5%+4%=12.5% with the deposit as collateral.

Term Deposit Conditions

When opening time deposits, individuals are granted the following options: