Deposit Account – Individuals
CAC Bank customers can invest and gain huge and guaranteed returns benefiting from our competitive interest rates; the investment can be set by placing a fixed balance with a specific period of time and specified rate, and the interests deposited to the customer account on the maturity date of the deposit.
Service Features:
- Gaining high interests according to the approved pricing, and depositedevery (3, 6, 12) months as per the customer request.
- Opening a current account without a minimum balance used to deposit the interests periodically.
- You can transfer from your deposit account to your current account without over limiting the deposit amount.
- Customer can acquire loans or credit facilities secured by the deposit.
- Deposits are subject to the guarantee of the “Banking Deposit Guarantee Corporation” and the Bank is considered as one of its founding members.
Terms and Documents required to obtain the service:
- Customer should be over the legal age (18 years old).
- Providing the original personal identifications (valid electronic ID).
- Foreigners should provide passport copy, residence card, and official letter from the employer.
- Filling the deposit opening application form.
- The minimum balance required to fix a deposit is YER 500,000 or USD 5,000 or equivalent in any other currencies.
- The Customer should open a current account and fix the deposit, the current account can be in local currency or any approved foreign currencies.
FAQs
The interests will be deposited to the deposit account on the maturity date (every 3 months, 6 months, and 12 months).
Yes, you can specify the account that you want us to deposit the interests in either the current or the deposit accounts.
No, you can’t; only in case you liquidated the deposit.
Yes, you can liquidate your deposit at any time, the interests will be affected according to the liquidation date of the deposit, if the liquidation date is almost near of the interest maturity date, a part of interests will be paid, and otherwise you will not gain any interests.
Yes, deposits are subject to the guarantee of the “Banking Deposit Guarantee Corporation” and the Bank is considered as one of its founding members.
The minimum balance to open a deposit is YER 500,000, USD 5000 or equivalent in any other currencies.
No, there are deposits for individuals and deposits for corporations.
When you open a deposit account you should have a current account which allows you to have an ATM card, but you can’t use the card to withdraw from the deposit account; you can use it to withdraw from the current account only.
To open a deposit account, you should first have a current account, and this enables you to benefit from the services presented by our electronic banking services.
