More information

• What’s the account’s duration?

  This is a 12-month term account.

• What are the minimum/maximum initial deposit amounts?
  • Minimum initial deposit  amount is €30
  • Maximum monthly deposit amount is €500.
• Is there a minimum fixed monthly deposit amount?

  The minimun monthly deposit amount is €30

• When is the account renewed and at what interest?

  The account is automatically renewed on the renewal data and at the Scheme's interest rate on that date.

• When can I withdraw the money?

  Withdrawal is available with the minor’s signature upon them reaching the age of 18. Withdrawal is also possible in special cases, prior to the minor reaching the age of 18, with a court order.

• Is it possible, even though I’m saving in this account, my application for a student loan for my child to be rejected?

  Yes, the Bank reserves the right to examine and deny any application for a student loan at its discretion.

• What is the interest rate?

  Find the interest rate here

• Useful information

  1. What is a savings account?

  These are accounts that aim to help you find the most appropriate way for saving and the best way of doing that without burdening your finances, while also allowing you to enjoy the benefits of setting money aside.

  2. How do I choose the savings account that suits me best?

  We have suitable accounts depending on how you want to save money. You have the choice of saving:

  • A regular amount every month (“Steady” account)
  • Any excess money lying idle in your current account (“SurPlus” account)
  • Via your credit card (the “Save a la card” account)
  • For your Kids (Kids account)

   

  3.  How do I open a savings account?

  The process of opening an account is short and simple Find out through our website and our branch network about your different options to choose the savings account that suits best your needs. The process for renewing the account is just as simple.

   

  4. What is the process for renewing a savings account?

  A few days before the end of the 12-month period, you will receive a letter reminding you of the expiry date of your account. You may consider the following options:

  • Give instructions on the expiry of the account for the interest or the total amount deposited (including the interest) to be transferred to another account.
  • For the "Kids" Saving account, you can transfer money (the interest, the total or part of the deposit amount) to another account in the bank, in the child's name, only if the new account enjoys higher interest rate.
  • If you do not want any change to your savings account, it will be automatically renewed at the interest rate the Bank offers at that time, ensuring there is no loss of interest even if you forget to renew the account on the designated date.
• Guarantee Deposit Scheme

  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