Updated on 25 January 2020
Praxia Bank S.A. (formerly Credicom Consumer Finance Bank S.A.) is a privately-owned bank with a sole international shareholder, namely Atlas Merchant Capital Fund LP, an international investment company based in New York. Praxia Bank S.A. is implementing a user-friendly, modern digital banking experience based on cutting-edge technology and innovation. Praxia Bank S.A. is committed to offering a pioneering and sophisticated banking experience that is both friendly and easy to access.
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Time deposits accounts are interest-bearing deposit acoounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Greece: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 6 month to 2 years (24 months). The interest rates are within the range 0.60 - 1.50 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Greece.
Average Deposit Rates. In February 2019, average annual deposit interest rate in local currency (Euro) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 0.58 %.
Country Deposit Rating. Greece's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to B3 (highly speculative).
Deposit Guarantee. Time deposit accounts made with credit institutions in Greece are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. Interest gained on time deposit accounts by residents of Greece is taxed at 15.00% rate. Interest gained on time deposit accounts by non-residents of Greece is taxed at 15.00% rate. When the interest is paid, this tax is automatically withhold from the time deposit account by the bank.