Sight deposits in RSD

If you do not have a current account with Yettel Bank — visit the Yettel shop or our branch, open a Bank Lite account (free of charge) and start saving.

If you have a current account — simply open your savings account online.

• Your money is always available, and you can transfer funds from your savings to your current account at any time. 
• There is no minimum, nor maximum amount that can be deposited. 
• You can have more than one savings account. 
• Interest is calculated and credited at the end of each month or at the time of interruption of savings, whereby the money is transferred to the current account, noting that no tax is paid on the income from interest on savings in RSD.
• The condition for opening a sight deposit account is an active current account with our Bank (it is enough to have a Bank Lite account that is free of charge), as well as an active (mobile or web) Yettel Bank application that you will use to activate the savings account.

Note: The example was made on the assumption that the money was deposited to a savings account on 06 October 2023. The example was made on the assumption that the additional benefit in the form of Bonus Interest remains unchanged in the period for which the calculation was made.

The interest in this example is calculated assuming that the amount of savings will be paid all at once and will be fixed for a period of one year, and that one-twelfth of the principal will be paid every month for the next year. A tax of 15% is calculated on interest on savings in euros.

Example was created by applying the contracted NIR and Bonus interest rates, which are calculated and paid together.

*Decision on conditions and method of calculating EIR and the appearance and content of the forms to be delivered to the client

If you don’t have an account with our Bank, first open a payment account and then start your savings. If you already have an account with our Bank, you can open your RSD term deposit account straight away through internet or mobile app.

RSD sight deposits are a type of savings where clients conclude an indefinite-term contract with our Bank and where clients can make deposits or withdrawals of funds at any time and where the calculation and accrual of interest is carried out at the end of each month. In our Bank it is possible to have more than one savings account, and you can deposit any amount in each of them (there is no minimum or maximum amount).
The condition for opening a sight deposit account is an open current account with our Bank (it is enough to have a Bank Lite account that is free of charge), as well as an active (mobile or web) Yettel Bank application that you will use to open the savings account.

You can deposit funds by making an internal transfer from your current account to a savings account or by buying/selling currency through the exchange office and transferring the converted funds from your current account to the sight deposit account in the currency in which the deposit is kept.
You can deposit money into your current account at the Yettel Bank ATM and transfer it from the current account to the savings account by internal transfer.
If you have an exact plan of how much money you want to spend on savings and how often, you can use the application to make a standing order that will automatically transfer you money at intervals you choose – regardless of whether you’re saving in dinars or euros.

If you need money, you can immediately get it back to your current account and use the option “withdraw funds” in your savings account details, or through an internal transfer by choosing a savings account from which you want to withdraw money into your current account. Funds from a multi-currency account can always be withdrawn at ATMs or the Bank’s counter. Funds from interest are available after the calculated interest is calculated, which is done on the last day of the month.
Deposits and withdrawals from ATMs directly to and from a savings account are not possible, and should be made through a current account. The client can withdraw up to 600.000 RSD without notice. You will need to give notice to the bank if you want to withdraw larger amounts regardless of the type of account.
Note: Direct deposits to a savings account and withdrawals from a savings account via an ATM are not possible.

You can manage your savings very easily and completely online, because everything is always at hand:
• Money always available, the amount increasing from month to month if you do not withdraw the funds of the deposited principal and paid interest,
• Flexibility of sight savings (no minimum or maximum savings amount, no term)
• Simple application to open a savings account through the app
• Possibility of opening and naming multiple savings accounts as desired
What is an interest rate of 0,01% and the 4,0%?
The interest rate of 0.01% is the contracted nominal interest rate that is guaranteed for an unlimited period of time, just as the product is not limited in terms of contract term. The amount of 4.00% represents an unconditional benefit in terms of the additional (Bonus) interest rate that the Bank calculates for RSD sight savings clients who have contracted this product as of 11th of October 2023. The interest rate that is calculated on the amount of your invested funds is always the sum of these two and represents the effective interest rate.

The interest rate that will be applied to your deposit is 4.01% annually and is the sum of the contracted nominal interest rate of 0.01% and special benefits in the form of additional (Bonus) interest of 4.00%.

Considering that interest rates depend on a very large number of factors on the financial market, we have designed the product in such a way that you do not have to open new savings accounts, and always have conditions that reflect this situation at a certain point in time. Considering that the product has no expiration date, our goal is that the interest rate we give is always at the top of the a-vista savings offers. In this regard, if there is a rise or fall in interest rates on the market (reference interest rate of NBS, Belibor, Euribor), the Bank may decide to change the amount of unconditional benefit in the form of additional (Bonus) interest. Changes of this type, in accordance with the Agreement, also imply notifying clients about the upcoming changes 30 days in advance. We remind you that with such a product you have complete freedom of holding funds without any consequences if for any reason the offer does not suit you.

In case of possible change or cancellation of the unconditional benefit in the form of additional (Bonus) interest, the Bank will notify you at least 30 days in advance, indicating the status of the benefit we provide.

With sight savings, the amount of interest that will be received depends on the amount of money that the client keeps in the account, the time frame, i.e. the duration of the savings and the interest rate applied. Given that it is a product that allows depositing and withdrawal of funds during use, that the product does not have an expiration date, there is an unlimited number of possible results depending on how the client manages the funds. In accordance with this limitation, and in order to inform the client about the amount of interest he will receive after a certain period of time, the Decision on conditions and method of calculating the effective interest rate and the appearance and content of the forms to be delivered to the client prescribes the manner in which the executive interest rate is displayed in this type of savings: it is assumed that, each month, the client will withdraw 1/12 of the money invested and reduce his principal on which interest is calculated. For this reason, the amount you see on the app is lower.
Of course, if you do not withdraw the money, in addition to the fact that interest will be calculated on the initially invested money, keep in mind that the amount of interest is also attributed to the deposited amount of savings, so you will receive interest on this amount if you do not withdraw it.