MKD deposits are retail cash deposits invested in a bank, for which the Bank issues a savings book based on the depositor’s verbal request after having opened a transaction account.
The following might be owners of MKD savings deposits:
- Domestic individual – resident
- Foreign individual – nonresident
The following might dispose of the MKD savings deposit funds:- Savings deposit owner
- Legal representative if the owner of the savings deposit is a minor
- Guardian of persons under guardianship
- Authorized person
Authorization may be prepared at all counter desks in the Bank for those who are personally present at the time of issue of the authorization. Persons dwelling abroad may issue an authorization indicating the data of the owner and authorized person. The authorization has to be notarized or verified in a diplomatic and consular mission in the issuing country.
Types of MKD savings deposits:
- Sight
- Term deposits - 1,3,4,6,8,12,14,15,24,36 or more months
- Interest-free deposits – purpose (loan collateral)
Data on MKD savings deposits are a business secrecy of the Bank. MKD savings deposits in the Bank are insured in the Deposit Insurance Fund. The Fund indemnifies individuals to:- 100% of each individual’s total deposit to the amount of EUR 30,000.00 in MKD counter value