Deposits - store your funds with profit
Why deposits from ConcordBank are just for you
- The ability to choose a deposit to fit your needs: only save or accumulate.
- Deposits are passive earnings without effort.
- Fixed income protected against inflation.
- The ability to accumulate or save in foreign currency.
- Holding money in a reliable bank is safer than at home “under the mattress".
Questions and answers
What is a deposit and how does it work?
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.
Which deposits are the most profitable?
The profitability depends on the deposit currency. Deposits in UAH allow you to get the most income due to high interest rates.
What should I look for when making a deposit?
- The ability of the bank to change the interest rate during the term of the deposit.
- Conditions for the return of funds after the expiration of the deposit and extension of the agreement.
- Special conditions for early repayment of a deposit.
- Bank participation in the Deposit Guarantee Fund.
What is the tax on deposits in Ukraine?
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.
Why a bank should be a member of the Deposit Guarantee Fund?
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)
Files to download
Significant characteristics of term deposits
Loyalty programs
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:
- the amount of the deposit is equal to and/or exceed the previous amount of the deposit;
- Re-issuance is carried out within 10 working days from the date of closing the previous deposit in the Bank, except for deposits "Classic +" for a period of 1 month, and "Savings" for a period of 1 month, these deposits are automatically extended by the contract on the last day of the deposit.
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.
- The depositor has the right to refuse to conclude a bank deposit agreement, if such right is stipulated by law.
- Profit received by the Depositor as interest on the bank deposit shall be subject to taxation in accordance with the terms of the current legislation of Ukraine.
- Profits earned by the Depositor as interest on a deposit may result in the loss and/or reduction of benefits or subsidies if the Depositor receives them.
- When funds are credited to the deposit account opened with the Bank, the Bank undertakes to return them under the terms and conditions of the concluded agreement.
- The Bank shall not be entitled to unilaterally amend the bank deposit agreements, unless otherwise provided by the agreement or the law.
- There are no additional services related to deposit attracting.
- The Bank is prohibited to require the Depositor to purchase any goods or services from the Bank and/or a related or affiliated person of the Bank as a prerequisite for the use of this banking service.
- In the absence/cancellation of extension, the deposit amount with accrued interest will be returned to the Depositor to the account specified by the Depositor in the agreement.
- In case of untimely application of the Depositor to the Bank for return of the bank deposit, such deposit shall be prolonged for a new term and on the terms and conditions provided for by the agreement, if such prolongation is provided for by the terms and conditions of the bank deposit agreement concluded.
- The depositor may refuse to receive promotional materials of the Bank by contacting the Bank's call center by phone numbers: +38 (050) 734 50 05, +38 (068) 734 50 05, +38 (056) 734 50 05, or by leaving an application on the Bank's website.
