Savings Account
About this Account
- Account can be opened in Euros (€) and USD ($)
- €50,000 minimum account opening deposit (or currency equivalent)†
- NBCAF email notifications
- Interest paid monthly
- Quarterly statements
- No annual maintenance fee
- Withdrawals can be made in person or by transfer to other Czech accounts
- Allows for inward BACS transfers and standing orders from Czech accounts
- Same day‡ transfers between NBCAF group accounts
- Send and receive international transfers to and from almost anywhere in the world*
Note that this deposit is payable once irrespective of the number of accounts opened. For example, a customer opening 2 or more accounts is only required to deposit a total minimum amount of €50,000.
Subject to a cut-off time on normal working days and charges.
Subject to our having to process all transactions in accordance with applicable legal and regulatory requirements.
Summary Information
Account Name | Savings Account EUR (€) |
What is the interest rate? | For €1+, gross % is 0.00 and AER % is 0.00. Interest is calculated daily on the cleared balance at the end of the day and paid monthly on the last working day of the month. Details of our latest current account interest rates can be found on this website |
Can NBCAF change the interest rate? | Yes. From time to time, we may change our variable interest rate that applies to this Current account. We may review the interest rate if the Czech National Bank rate changes. Please refer to our Terms and Conditions for further information. |
What would the estimated balance be after 12 months based on a €1,000 deposit? | A deposit of €1,000 at a gross rate of 0.00% will result in €1,000.00 after 12 months. The example assumes that there are no additional deposits or withdrawals, the interest stays the same for 12 months and interest is paid and compounded monthly. These estimated balances are provided for illustrative purposes only and do not take into account a customer’s individual circumstances. |
How do I open and manage my account? | To open an account, you must apply through one of our Relationship Managers or Liaison Desks. You can use the following channels to manage your account: online, post, phone and in branch. |
Can I withdraw money? | Yes. This is an “instant access” account. Multiple withdrawals can be made from the available balance. Withdrawals can be made in person or by transfer to other Czech accounts or abroad. |
Additional Information
AER means Annual Equivalent Rate and it illustrates a notional rate on what the gross rate would be if interest were paid and compounded each year. This allows you to compare expected returns on your savings with other savings products.
Interest is paid Gross; we will not deduct any tax automatically from your interest.
Applicable to “sole” &/or “joint” personal account holders only:
With effect from 2 July 2018, a Minimum Balance of EURO 50,000 (or currency equivalent) must be maintained at all times. This can be spread over a variety of accounts, including Current, Savings, Fixed Deposit, PAD and Mortgage Security Deposit (if applicable) and across accounts in any currency (EURO, USD, EUR). For full details, please refer to the Minimum Balance Requirement page.
The information provided is a summary of the key features of the current account and is not intended to be a substitute for reading the Terms and Conditions that apply to the account.
How to Apply
Before you apply for our Savings Account, kindly read and understand our personal banking terms and conditions. for this service. We shall be pleased to answer any questions about them that you may have.
Then, download the account opening forms, complete all sections fully and submit them along with all of the additional relevant documents that the application form lists, to our offices at Želetavská 1525/12, 14000, Praha 44, Czech Republic.
You can also send a completed account opening form along with certified true copies of the required documents to our offices in London by post to the address above.
However, please do not send original documents by post as NBCAF Limited will not be liable for the loss or damage of any original documents sent to us by post. Documents normally required to open a NBCAF Current Account are listed in the account opening form. Please be aware that incomplete application forms, imprecise or inconsistent information is likely to cause a delay to our processing of your application. Additionally, although we seek to list most of the documents needed to process an application, Czech law and regulations may require us to obtain additional information and verification documentation.
