| Eximbank Executive Board at its meeting on March 11, 2005 adopted a decision to reduce interest rates on fixed rate time-deposits attracted from individuals. The changes will apply to future time-deposits both in local and foreign currencies and will not affect the time-deposits opened before March 18, 2005.
According to the adopted decision the interest rates will be reduced on average by 1.5% for deposits in local currency and by 0.5% for deposits in foreign currencies.
As a result of the changes the maximum interest rates paid on time-deposits will be as follows:
- in Moldovan Lei – 16.0%
- in US dollars – 8.0 %
- in EUR -7.5 %
Simultaneously, the bank has changed its conditions for the time deposits “With Replenishment”, “Universal” and “Pension” reducing the interest rates by 2.5 % for deposits in Moldovan Lei, by 2.0 % for deposits in EUR and by 1.5 % for deposits in USD.
The new conditions for time deposits up to 12 months will come into effect from March 21, 2005.
The conditions for the floating interest rate deposits for 24 and 36 months will be changed from
April 1, 2005.
This is the second time this year that Eximbank reduces deposit interest rates, which reflects the bank’s policy of gradual interest rate reduction both for the attracted deposits and granted loans.
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