What is OTP Sincron?
The OTP Sincron savings and investment package is a complex banking product that brings you greater benefits and rewards than a classic deposit.
The package consists of two products:
One or more investment funds opened and administered by OTP Asset Management Romania (OTP AvantisRO, OTP Bonds, OTP ComodisRO, OTP EuroBond, OTP Dollar Bond, OTP Premium Return and OTP Global Premium)
- One or more term deposits with special interest, higher than that of standard deposits.
What is an investment fund?
The investment fund is the result of associating several investors who decide to put their money together in order to acquire a set of financial instruments. Each investor holds a part of the portfolio of instruments and is free to sell it at any time.
Be an investor in one or more funds distributed by OTP Bank Romania! When purchasing a fund unit, you can make deposits with promotional interest in LEI, EUR or USD depending on the currency of the fund you are investing in.
Our experts will help you diversify your investment and obtain secure incomes from the term deposits associated with the investment.
Go to this document to see OTP Sincron promotional interest rates.
What benefits you get if you choose OTP Sincron
Make a term deposit with promotional interest in LEI, EUR or USD right on the purchase day of fund units! Here are your benefits:
- You enjoy fixed promotional interest rates throughout the deposit period. Thus, you know from the beginning what will be the amount accrued at liquidation.
- You have ZERO withdrawal fees for the amounts deposited at the due date, as stipulated in the contract.
- You have ZERO fees for the purchase of units from the investment funds managed by OTP Asset Management Romania.
- You have ZERO redemption fees for all investment funds opened and managed by OTP Asset Management Romania.
- You have maximum flexibility and easy access to a diversified portfolio of assets, and our colleagues from OTP Bank units are ready to help you make the right choices.
- The amounts in these deposits are guaranteed by the Deposit Guarantee Fund in the Banking System within the limits and in accordance with the legislation in force.
What else you need to know before choosing OTP Sincron
- You may set up promotional deposits only on the day of purchase of one or more fund units in LEI, EUR or USD, depending on the currency of the respective fund.
- You can choose as establishment period of your deposit or deposits: 6, 9, 12, 18 or 24 months.
- The minimum amount you need to make a promotional deposit is 100 LEI / EUR / USD.
- The minimum investment value in a fund unit is 1000 LEI or the equivalent in EUR / USD, at the NBR exchange rate on the day of the purchase / establishment of the deposit.
- If you choose to liquidate the deposit before the due date, the amount of the deposit will be granted at the interest rate for the current account.
- The maximum amount of deposits in LEI / EUR / USD with the annual rate of promotional interest may not exceed, at the date of deposit creation, the net amount of the investment made on that day in the funds associated with the deposits.
How to access the OTP Sincron savings package
If you have aroused your curiosity and you feel good with the idea of saving and winning from long-term promotional interest, we look forward for your visit. Come to any branch of OTP Bank Romania with your identity card in original and ask about the OTP Sincron savings package.
Our colleagues are at your disposal with all the information you need and will help you make the best decisions.
Do not forget: in order to benefit from the promotional interest on the deposit in LEI, EUR or USD, you must invest at least 1.000 LEI or equivalent in fund units of the funds available under the OTP Sincron package on the day of its establishment. Keep purchased units throughout the promotional deposit period to enjoy promotional interest.
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Frequently Asked Questions
Can I use the money I have in my savings account at any time? How does this affect me?
Yes, money deposited in a savings account can be used at any time. You will still receive the interest calculated for the amount you have in your savings account.
When do I receive the interest for my savings from the savings account?
Interest is calculated based on the daily amount you have in your account and is transferred into your savings account at the beginning of the following month. The interest rate is variable and varies depending on cumulative instalments.
What is the minimum amount required to open a deposit?
To open a deposit account with OTP Bank, you need at least 100 LEI, 100 EURO, 100 USD, 100 GBP or 25.000 HUF. To find out the interest rate level applied depending on the amount deposited and the maturity period, go to this link.
How is the interest on deposits?
Interest on deposits is fixed and applies to the amount in the deposit account for the selected period.
Can I withdraw interest on deposits every month?
You can withdraw interest monthly only if you opt for the following options:
- Deposit in LEI, EUR, USD, HUF, GBP with one month maturity;
- Deposit in LEI, EUR on 1 year with fixed interest and monthly interest payment.