Combined deposits
The winning combination
Increase the return on your deposit by combining it with an investment fund
Our combined deposits are comprised of a portion that is invested in a traditional bank deposit and another portion that is invested in an investment fund.
You can choose between several options that will divide the capital in different proportions between the fixed-rate deposit and the variable-return investment fund. Depending on how you distribute the amount you invest and the fund you choose, you will obtain a different return on the deposit. The return on the fund will depend on the performance of the markets.
To take out a deposit and a fund, all you need is to hold an account with MoraBanc. We will associate the deposit and the investment fund to the MoraBanc account specified by you. You can choose one of our proposed deposits and combine it with one of the investment funds we offer.
- You must hold an account with MoraBanc; both the deposit and the combined investment fund allow one holder only (who must be the same person) and both will be associated with the same MoraBanc account specified by you.
- Both the minimum and maximum amounts are subject to the commercially available deposits and funds at the time of purchase.
- Term: 12 months.
- Rate of interest: depending on the product taken out. The above interest rate will be paid provided that, upon maturity of the term deposit, you hold the minimum number of shares in the Investment Fund required for each option. If not, interest will be paid at 0.01%.
- Early redemption: you can redeem your deposit before it matures. The redemption of one product does not entail the redemption of the other product. You will receive the capital invested in the deposit (whether you withdraw it in full or in part) after deducting the redemption fee. If you wish to redeem the associated investment fund, please make a redemption request and we will repay the shares at market value, which may result in losses relative to the initial investment. Renewal: the product is not automatically renewable upon maturity. The fund has no maturity date. Once the term deposit has matured, you can either maintain or redeem the fund.
- Rates:
o For the term deposit:
Early redemption fee: 2% of the nominal amount based on the number of days remaining until the deposit matures.
o For the investment fund:
Entry fee (purchase): NO ENTRY FEE for a combined purchase.
Redemption fee (sale): the rate applicable to this type of fund at the time of sale.
Custody fee (six-monthly): 0.10%.
Early redemption fee: 2% of the nominal amount based on the number of days remaining until the deposit matures.
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