K&H security deposits
Are you required to set aside a reserve? Keep it in a security deposit account: you comply with the legal provisions and even earn an interest.
- the security deposit earns a decent interest
- the operation of the account is free of charge
details
|
term of the deposit |
according to statutory requirements |
|---|---|
|
minimum deposit amount |
according to statutory requirements |
|
rate of interest* |
|
|
account management fee |
free of charge |
* so called tiered interest, i.e. if your account balance is in the higher range the Bank will pay the higher interest rate on the entire account balance.
(UDRI = Unified Deposit Rate Index)
For further terms and conditions see the Announcement for Corporate Clients.
The K&H security deposits are insured by the National Deposit Insurance Fund.
who is it recommended for?
- managers of businesses that are required by law to set aside a security deposit
- such businesses include but not limited to the following:
- tour operators, employment placement agencies, temporary work agencies, taxi operators, funeral undertakers, waste managers
what is the purpose of the security deposit and what can it be used for?
- in accordance with the relevant legal provisions the security deposit can be used to discharge payment and indemnification obligations related to the activities of the business, based on the written order of the licensing authority approving the payment, a final court decision or a settlement agreement
- the security deposit must be topped up to the statutory amount within the statutory time limit
- the account holder may only close the security deposit account if it meets the relevant statutory requirements
what documents do I have to present to open a security deposit account?
account opening and placement of a security deposit by a new client: document of registration by the companies’ court, instrument of constitution, signature specimen
This material does not constitute an offer. The Bank reserves the right to change terms and conditions. A detailed description of the product and its terms and conditions can be found in the relevant client contract, the General Contracting Terms and Conditions of payment and deposit services provided to corporate clients, the General Contracting Terms and Conditions for bankcard and credit card services, the General Contracting Terms and Conditions for banking services requiring electronic identification, the General Contracting Terms and Conditions of K&H Mobilinfo Service, the General Terms and Conditions and the currently effective Announcement for Corporate Clients. Insurance is provided by K&H Biztosító Zrt., detailed description and conditions of the insurance product and services are available in the insurance contract and in the relevant contractual terms and conditions of insurance.