Sina Bank term deposit accounts can be opened by real and legal person at least with IRR 500,000. Interest on term deposits is paid at the rates as by the general guidelines issued by Central Bank of Iran.
The interest on term deposits will be calculated in case of yearly interest payment scheme. The interest will be paid monthly or in maturity date according to customer’s request. Where term deposits are repaid before maturity, the rate of interest payable would be the rate applicable to the period for which deposit remained with the Bank as on the date of deposit less the prescribed penalty (.5%). The depositors will be made aware of these provisions at the time of opening their account. There is no interest payment for term deposit less than one month.
