With escalated interest rate

18-month Fixed Term "Step-Up” Deposit Account

  • Escalated interest rate

    The interest rate increases every six months.

  • Fixed interest payment

    The interest will be automatically deposited every six months in your chosen affiliated account.

  • Preferential interest rate offered

    Preferential interest rate offered in comparison to the other Fixed Term Deposit products.

More Information

  • You may deposit amount from €20.000 to €500.000. The product is offered in euros.

  • Your deposit duration is 18 months. No option for renewal upon expiry.

  • The Bank may reject any demand for full or partial payment of the deposit before maturity (18 months). Where such demand is accepted, your account will be charged with the relevant cost payable, from time to time, by the Bank which might reduce your initial deposit amount. See the Table of Commissions and Charges.

  • The interest is calculated based on the interest rate of the specific period and is deposited in your chosen account upon 6 months, 12 months and 18 months.

  • See the interest rates here.  Increased interest rate is offered for deposits of €100.000 or more.

  • 1. What is a fixed-term deposit?

    A fixed-term deposit account is an account in which you place your money for an agreed period of time, during which time you cannot deposit additional money into your account or withdraw from it.

    2. What is the procedure for renewing a fixed-term deposit account?

    No option for renewal for the "Step-Up" product. Your deposit amount will be automatically transferred to your chosen affiliated account upon expiry.

    3. What is the difference between the “Step Up” product and the other Fixed Term Deposit products?

    At this time, the “Step-Up” product offers higher interest rate which is increasing every six months, in comparison to the other deposit products offered by the Bank of Cyprus.

  • Deposits in Bank of Cyprus Public Company Limited are protected by the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme (DGS).

    Limit protection of EUR 100.000 per depositor per credit institution.

    For more information please click here


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