With two months left to FIBA World Championship which starts on 28 August in Turkey, a long term sponsor of the National Team DnB NORD Bank designed a special Basketball Deposit Plan that offers double benefit.
With two months left to FIBA World Championship which starts on 28 August in Turkey, a long term sponsor of the National Team DnB NORD Bank designed a special Basketball Deposit Plan that offers double benefit. Since the very beginning of the Championship the basketball fans who will chose this savings method comprising term and investment deposit in equal parts shall be able to enjoy up to 5 percent annual interest rate with additional premium paid following each victory of the national squad
"With the market facing the declined deposit interests we have been looking for the ways of providing our clients with a possibility of not only enjoying the heat of the World Championship but also to earn more with every victory by the National Team. For this purpose we have developed a savings plan that corresponds to the concept of DnB NORD Money factory that allows to count victories that turn into money together" - says Lijana Žmoginaitė, Manager of the Sales Management Department of DnB NORD Bank.
The Basketball Deposit Plan consists of term and investment deposit in equal parts. Since the beginning of the championship the customers who choose the savings plan will be paid by DnB NORD Bankas 5 percent annual interest on six month term deposit and additional 0.3 percentage point premium for each victory of the national squad in the Championship. In case of success Lithuania’s squad will play nine matches in Turkey and upon winning them the annual interest of the term deposit of the Basketball Deposit Plan may increase to 7.7 percent.
Profitability of the second part of the Basketball Deposit Plan, i.e. a three year investment deposit will depend on the key four raw material export market indexes. Every three months the depositors will be paid 5 percent annual interest gain if during that quarter indexes of Russia's RDX, Canada's S&P TS and Australia's S&P/ASX 20 index fund will at least increase 5 percent of the value fixed at the end of the deposit placement term. If on the quarterly observation dates any of these indices fall below the indicated barrier the notes will not accrue interest for that quarter. In either case the investment deposits are principal protected. The interest accrued from the investment deposit shall be subject to withdrawal every three months.
The risk of the principal protected investment deposit is that in case during each of 12 quarters the indexes fall or remain below the set mark its return may equal to zero at the maturity.
The minimum amount of the Basketball Deposit Plan is LTL 1000. The term deposit may be placed in Litas or Euro and the investment deposit in Litas only. The Basketball Deposit Plan can be concluded until 27 August (inclusive).
Last year, when DnB NORD Bank, that has been the sponsor of the National Team for 7 successive years, offered the possibility of linking interest with the victories in the European Basketball Championship in Poland, the clients placed 45 million Litas to the Basketball Deposit.