Standard Fixed-term Deposits

A fixed-term deposit account gives you the opportunity to make your money work for you. Investing in a fixed-term deposit account earns you a higher interest rate than keeping your money in a savings account.

Select the fixed-term deposit account that is more convenient to you. Interest rate is payable at maturity; monthly, quarterly or yearly depending on the term you choose.

You can choose to have more than one fixed-term deposit account to accommodate your financial goals and needs.

A Personal Client Relationship Officer will be assigned to support and assist you to maximise the benefits of your fixed-term deposit account.

Existing clients

Clients may contact their personal Client Relationship Officer (CRO) and communicate their request using email, mail, fax or via the website

New clients

Clients have the option of contacting our experienced CRO’s to guide them through the process or
directly submitting their initial request using email, mail, fax or via the website

What we offer

Fixed interest rate
Fixed duration
Secured income
No minimum deposit amount required
No charges apply for opening and maintaining your fixed-term deposit account

Tenor options for a fixed-term deposit account

Standard tenor (1, 2, 3, 6, 9, 12 months)
Tenor of your preference (i.e. 125 days, 5 months, etc)

Why choose a fixed-term deposit account

It secures a fixed return on your investment
You benefit of higher interest rates compared to placing funds in savings accounts
It encourages the habit of saving
Your funds can be easily liquidated in case of cash flow shortfall
It can be used as a collateral for obtaining credit facility
Up to €100,000 are secured per person as per the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme*

* The Deposit Guarantee and Resolution of Credit and Other Institutions Scheme (DGS) is based on the relevant legal framework of the Business of Credit Institutions Law, the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme Law of 2016 and the Regulations therein and the Resolution of Credit and Investment Firms Law of 2016. Click here for more details.

For permanent residents of Cyprus, a special contribution for defence is deducted from the total interest earned on your deposits. In case you are not a permanent resident of Cyprus, please fill in the relevant form of the Ministry of Finance and submit it to the Bank in order to avoid the said deduction.

How to apply

If you are a new client of cdbbank, in compliance with relevant legislation, you should submit to the Bank the following documents in order to verify your identification details:

For adult accounts:

Identity Card
Proof of permanent address (i.e. recent utility bill-not more than 3 months)
Payslip

For minor accounts (under the age of 18):

Minor’s Birth Certificate
Minor’s Identity Card
Minor’s legal guardian Identity Card