OREANDA-NEWS. January 23, 2009. All new term deposit contracts will be entered into under new terms and conditions from 2 February 2009. The existing terms and conditions will apply to term deposit contracts entered into before 2 February 2009 until the end of the current deposit period, reported the press-centre of SEB Bank.

New terms and conditions have been made more understandable for clients and the procedure of premature termination has been amended when compared to the currently effective terms and conditions. The bank will terminate the term deposits entered into from 2 February 2009 prematurely at the request of the client within three banking days of receipt of the relevant application from the client.

It is important for clients to select the deposit term that is suitable for them and to deposit the money until the end of the deposit term. This allows the client to earn the expected income on their deposits as the bank does not pay interest on deposits that are prematurely terminated. If any additional interest expenses are caused to the client with the premature termination of a deposit, the bank has the right to demand compensation of said interest expenses. We advise clients who are not sure whether they wish to deposit their money for the selected term to opt for an operating deposit as it allows them to withdraw money at any time without losing interest.

The employees of our branches will help each client select the most suitable deposits. Consultations are free for clients.