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  • Benefits
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  • How to Apply
  • Legal Notices

At Millennium bim we are always looking for different ways for you to make your money grow. And as the money sitting in your Current Account does not grow, we launched the Depósito Mola Extra (Extra Cash Deposit):
 
  • ​Maturity: 365 days.
  • Interest Payment: Monthly or at maturity.
  • Minimum opening amount: MZN 10.000,00.
  • Fixed interest rate.
  •  
    This Deposit also gives you access to a Pre-Approved Credit Line, up to 80% of the amount invested in the Deposit  for the term of effectiveness of the Depósito Mola Estra (Extra Cash Deposit).
     
    Therefore, we meet your savings needs by investing the stationary money of your Current Account
    !

    ​ ​

    Interest Rate

    Fixed, G​ross Nominal Annual Fee according to the invested amount and subject to changes under market conditions:


    Interest Monthly Payment

    Interest Payment at the End​

    • 10.000 - 500.000 MZN à 0,75%
    • 500.001 - 1.500.000 MZN à 3,75%
    • 1.500.001 - 2.500.00 MZN à 4,75%
    • 2.500.001 - 5.000.000 MZN à 5,75%
    • Up to  5.000.000 MZN à 6,25%
    • 10.000 - 500.000 MZN à 1,25%
    • 500.001 - 1.500.000 MZN à 4.25%
    • 1.500.001 - 2.500.00 MZN à 5,25%
    • 2.500.001 - 5.000.000 MZN à 6,25%
    • Up to  5.000.000 MZN à 6,75%​

    ​​​


    Maturity
    365 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).
     
    Amounts
    Minimum opening amount: MZN 10.000,00.
     
    Renewal
    Automatic renewals are not allowed.​
     
    Early Redemption
    Early redemption is permited, total or partial, at any moment of the Term Deposit life. However, an interest penalty will apply, according to the Bank's Price List available at any Millennium bim Branch.
     
    Interest Payment
    Interests are paid at the end of each accrual period (end of month). Interests can be capitalized in the corresponding Current Account or in the Depósito Mola Extra (Extra Cash Deposit) Account, as per definition in the "Capitalization Rules".
     
    Capitalization Rules
    Interest capitalization in the corresponding Current Account is optional, depending upon specific declaration of the account ownwer, at 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. 

    Access Conditions

    All Individual Customers owning a Current Account in MZN at Millennium bim can apply for the Depósito Mola Extra (Extra Cash Deposit).
     
    Maturity
    365 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
    Automatic renewals are not allowed.
     
    Amounts
    Minimum opening amount: MZN 10.000,00.
    Minimum additional deposits: MZN 10.000,00.
     
    Additional Deposits
    Allows for additional deposits from MZN 10.000,00.
     
    Principal Guarantee
    The principal amount is fully guaranteed at maturity or early redemption.
     
    Pre-Approved Credit Line
    Gives automatic access to a pre-approved Credit Line of up to 80% of the amount invested in the Deposito Mola Extra (Extra Cash Deposit), at a very competitive Interest Rate.

     

    To establish this term deposit you can either:

     

    1.    Visit the nearest Millennium bim branch; or

    2.    Access your Internet Banking account and follow the steps bellow:

    a.    Select the current account that will be associated to the term-deposit;

    b.    Define the minimum amount of constitution and determine whether the interest will be credited into your current account or compounded into the term deposit;

    c.     Confirm the establishment of the term deposit;

    d.    Print the proof of the term deposit establishment;​ 

    Tax Policy

    Revenues from Deposits are subject to tax withholding corresponding to Stamp Duty (Imposto de Selo), at a 10% rate (IRPS Code, Law nr 33/2007 dated 31 of December).