Guaranteed Dividened Rates

Backup accounts	12.0%
Saving Accounts	14.0%
Six Month Investment Accounts	15.0%
One Year Investment Accounts	17.0%
Two Years Investment Accounts	17.2%
Three Years Investment Accounts	17.3%
Four Years Investment Accounts	17.4%
Five Years Investment Accounts	18.0%

Saving Accounts
Saving accounts are those deposits which earn profit and bank accepting deposits will save part of them with the Central Bank of Iran before using the rest for conducting authorized banking operations on behalf of customers.

Various types of saving accounts include:

• Day counting short-term saving account: Minimum time for gaining profit on this account is one month (after opening an account) and its advance payment on future profit rate currently stands at 14 percent.
• Special short-term saving account: Minimum time to gain profit on this account is six months and advance payment on future profit rate currently stands at 15 percent.
• One-year (long-term) saving account: Minimum time for gaining profit on this account is one year and advance payment on future profit has been considered at 17 percent.
• Two-year (long-term) saving account: Minimum time for gaining profit on this account is two years and advance payment on future profit has been considered at 17.2 percent.
• Three-year (long-term) saving account: Minimum time for gaining profit on this account is three years and advance payment on future profit has been considered at 17.3 percent.
• Four-year (long-term) saving account: Minimum time for gaining profit on this account is four years and advance payment on future profit has been considered at 17.4 percent.
• Five-year (long-term) saving account: Minimum time for gaining profit on this account is five years and advance payment on future profit has been considered at 18 percent.

Profit of all saving accounts will be settled to customer’s account on a monthly basis. It should be noted that in contracts and certificates related to long-term accounts, advance payment on future profit rate will be determined for the same year and until the end of the Iranian calendar year. The rate may be extended or reviewed in the face of new conditions.

Conditions for Opening Saving Accounts
All real and legal entities enjoying the following conditions can avail of advantages of these accounts. Being at least 18 years old is necessary for all real entities.

Minimum Deposit for Opening Saving Accounts
- One- and two-year: 500,000 rials
- Three- and four-year: 750,000 rials
- Five-year: 1,000,000 rials
- Short-term and special: 500,000 rials
 

Necessary Documents for Opening Saving Accounts

• Real entities
  • Filling in a signature sample card at the bank branch
  • Providing original and copy of identification paper or any type of authentic document attesting to actual and complete identity of the individual
• Legal entities
  • Filling in a signature sample card at the bank branch
  • Providing original and copy of articles of association of company or institute
  • The original and copy of the last advertisement in official gazette of the country
  • Providing letter of introduction from concerned company or institute

How to Use Long-Term Saving Accounts

• Presence of account holder at bank branch
• Opening a short-term saving account
• Carrying bankbook for short-term saving account

General Specifications of Various Saving Accounts

• Guarantee restoration of the principal (balance) on demand (upon request of customer)
• Granting day-counting profit to depositors
• Asking no cost for keeping the account open

Opening Foreign Exchange Accounts
Eghtesad Novin Bank offers diverse services to its customers with regard to foreign exchange accounts. Customers may open foreign exchange accounts using US dollar, euro, British Pound and United Arab Emirates’ dirham.

Various types of foreign exchange accounts of Eghtesad Novin Bank include:

• Foreign exchange interest-free current account (with minimum deposit of about 5,000 dollars);
• Foreign exchange saving account (with minimum deposit of about 2,000 dollars);
• Foreign exchange long-term saving account on three-month, six-month and one-year bases (through a minimum deposit of 3,000 dollars);

General conditions for opening any of the said accounts are similar to the conditions considered for opening counterpart rial accounts in the bank. Also, no profit is considered for the balance of foreign exchange interest-free current account and foreign exchange saving account.
Profit of foreign exchange long-term saving account will be paid in foreign exchange and according to agreed daily amount, which could be calculated and paid upon maturity of the deposit as day-counting and on the basis of the most recent rate when the account is opened, or could be added to the principal deposit. No profit would be paid on foreign exchange deposit, if the account were closed before maturity.