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Depósito Net (Net Deposit) is the right option if you want to have total flexibility over your Savings in a more convenient and safe way.

  • Terms: 30 days, 90 days or 180 days. 
  • Interest payment at maturity. 
  • Minimum opening amounts: MZN 5.000,00 / USD 1.000,00
  • Renewals at the interest rate applicable at renewal date, according to the Bank's Price List. 
  • Early redemption with interest penalty.


This Term Deposit can only be constituted through the Internet and for Customers registered at Millennium bim Internet Banking.

Put your money at work, start saving now!

 

 

Interest Rate

The interest rate for the Depósito Net (Net Deposit) is fixed since the beginning up to maturity date of the Deposit: 


Minimum Balance

30 Days

90 Days

180 Days

MZN 5 000

4,50%

3,25%

​2,25%​

USD  1 000

0,10%

0,13%

0,​16%


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Maturity
30 days, 90 days or 180 days.
 
On the start of the Term Deposit the value date for the debit in the corresponding Current Account and the value date on the Term Deposit Account are both on the transaction date (D). At maturity or early redemption, the value date is the transaction date and interest and principal are credited in the Current Account with the same value date (D).
 
Opening Amounts
Minimum opening amounts: MZN 5.000,00 / USD 1.000,00. 
 
Renewals
The Term Deposit can be automatically renewed for the same maturity length, at the interest rate applicable for the Term Deposit, according to the Bank's Price List valid on the renewal date. The Bank's Price List is available at any Millennium bim Branch.
 
Early Redemption
Early redemption is permited, total or partial, at any moment of the Term Deposit life. An interest penalty will, however, be applied according to the Bank's Price List available at any Millennium bim Branch.
 
Interest Payment
Interests are paid at the end of the accrual period, capitalized in the Deposit Account or in the corresponding Current Account, according to the "Capitalization Rules".
 
Capitalization Rules
Interest capitalization in the corresponding Current Account is optional, depending upon specific declaration of the account ownwer, at the start of the investment or during the investment period. However, in the later, the new capitalization rule will only apply for the next accrual periods.

 

 

 

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Access Conditions

All Individual Customers owning a Current Account in MZM or USD at Millennium bim can apply for a Depósito Net (Net Deposit) Account.

Maturity

30 days, 90 days or 180 days.

On the start of the Term Deposit the value date for the debit in the corresponding Current Account and the value date on the Term Deposit Account are both on the transaction date (D). At maturity or early redemption, the value date is the transaction date and interest and principal are credited in the Current Account with the same value date (D).

Renewal

The Term Deposit can be automatically renwed for the same maturity length, at the interest rate applicable for the Term Deposit according to the Bank's Price List valid on the renewal date. The Bank's Price List is available at any Millennium bim Branch.

Opening Amounts

Minimum opening amounts for investment are: MZN 5.000,00 / USD 1.000,00.

Additional Deposits

Once opened, this account does not allow for additional principal investments.  

Principal Guarantee

The principal amount is fully guaranteed at maturity or early redemption.

 

To apply for a Depósito Net (Net Deposit) Account just login to Millennium bim Internet Banking and choose Term Deposits / New. In the following screen, please:
 
  • ​Select the corresponding Current Account;
  • Select the desired maturity;
  • Indicate the amount (5,000.00 MZN / USD 1,000.00 or higher); and
  • Define the Capitalization Rule.
  •  
    To finish the transacction you must click in the Create and Confirm buttons.

     

     

     

    Tax Policy

    Revenues from Deposits are subject to tax withholding corresponding to Stamp Duty (Imposto de Selo), at a 10% rate (IRPS Code, Law no. 33/2007 dated 31 of December).