FIMBANK launches Easisave Fixed Term Deposits

FIMBank has launched an Easisave Fixed Term Deposit, an internet-based product that will enable customers to open term deposits for fixed periods between three months and three years, offering competitive interest rates ranging from 2.7% to 4.25% per annum.

Commenting on the launch of its euro-based deposit product, FIMBank’s head of banking group, Dr Armin Eckermann, stated that “Many savers recognise the fact that fixed term products can maximise their returns in this low interest rate environment. This is why we have decided to enhance our Easisave product offering and develop the fixed term deposit feature, integrating it into our existing online savings solution.”

Dr Eckermann explained how, going forward, FIMBank will be offering all its euro deposit products through Easisave. The bank’s strategy is to eventually become 100 per cent web-based in terms of retail deposit activity. Dr Eckermann emphasized Easisave’s fundamental features as an “easy to use, innovative, flexible and secure solution that will allow customers to earn more interest on their money, whether held in a savings account or fixed term deposit and with a guarantee of no deduction of transaction fees or bank charges.”

He also mentioned the accessibility of the new offering, explaining that “Even the smaller investor or depositor can now benefit from higher interest rates because FIMBank has adopted a very low minimum deposit requirement where a personal or joint fixed term deposit account can be opened with just 1,000 euros. We now invite customers to take their savings to the next level and start earning superior interest rates on fixed term deposits, which can go up to an advantageous 4.25% per annum for a three year fixed term.”