Term Deposit- DAT
What is it ?
The term deposit is an investment of money in Dinars and / or currency made by the order of the customer (legal or natural person) for an agreed period.
Eligibility
Associated products
Interest rate
FAQ
The term deposit is an investment of money in dinar and / or currency made by the order of the client (legal or natural person) for an agreed perio.
The term deposit is subject to interest rates defined by the Bank's conditions in force.
Interests are payable annually or at maturity. Remuneration of DATs in foreign currency is set by the Bank of Algeria.
Yes, for the withdrawal of the sum of money blocked in DAT, a request for reimbursement is to be established by the customer, so it can be reimbursed in advance or renewed.
The duration of subscription of a DAT in Algerian Dinars cannot be less than three (03) months. As for DATs denominated in foreign currency, they can be subscribed from one (01) month.
The amount of a DAT cannot be less than 10,000.00 DZD.
Like any other Bank product, the DAT must be attached to a current account which will be used to record subscription, reimbursement and interest payment transactions.
The subscription of a DAT gives rise to the signature by the client of a written investment commitment indicating in particular the amount, the duration and the agreed interest rate.
As a reminder, the DAT is remunerated in accordance with the Bank's conditions in force.
When the amount of the investment is greater than or equal to fifty (50) million Algerian Dinar, the customer may request the application of a preferential rate, the decision of which is the responsibility of the General Management.
When the amount of the investment is greater than or equal to fifty (50) million Algerian Dinar, the customer may request the application of a preferential rate, the decision of which is the responsibility of the General Management.
Yes, the renewal is carried out at the written request of the customer before the expiry date of the DAT. Otherwise, and at maturity, the Bank is exceptionally authorized to renew the old investment only once and for a maximum period of three (03) months.
The renewal must first be preceded by the reimbursement of the expired DAT. The same treatment must be observed as if it is a new subscription.
Reimbursement of a DAT can take place on the due date or in advance at the customer's request.
Early redemption is authorized under the following conditions:
1. In case the request occurs within a period of less than three (03) months, the placement does not give rise to any remuneration;
2. When the period is equal to or greater than three (03) months, the remuneration is paid by application of the period run and at the agreed rate of remuneration, reduced by 1%..
1. In case the request occurs within a period of less than three (03) months, the placement does not give rise to any remuneration;
2. When the period is equal to or greater than three (03) months, the remuneration is paid by application of the period run and at the agreed rate of remuneration, reduced by 1%..
The term deposit can be used as a deed of pledge, guarantee and pledge, established by the Bank and signed jointly with the customer.
The formalities for registering the deed of pledge must be completed by the client, who will be able to claim the setting up of his financing against delivery of the duly registered deed. In addition, the stamp, registration and deed of pledge must include the words "Good for pledge" as well as the joint signatures of the customer and the Commercial Manager before being sent to the "Guarantee Management" Department of the Operational Division.
The DAT cannot be subject to any opposition from the client. However, it may be subject to a blocking measure (opposition) initiated by a seizing third party. This is a bank or judicial garnishment or a notice to third party holder.
In the case of an opposition issued on the DAT, the Bank must notify the customer by a letter setting out all the characteristics of the opposition and informing him of the blocking of his DAT..
Only the DATs of natural persons are likely to be the subject of a settlement within the framework of the succession. When the Bank is informed of the death of a subscriber, in support of a death certificate in good and due form, it is necessary to proceed with the drop of the DAT on the current account which will be the subject of a liquidation within the framework of the formalities of succession.