Alfa-Bank announced yesterday new high-yield term deposit products, reaching up to 3% for up to 2 years and larger amounts, and, accordingly, up to 2.5% interest rate on a new term deposit offered by Eurobank.

In particular, Alfa-Bank announced new increased interest rates under the Alpha Proodos Plus term deposit program, which it launched in December last year for amounts over 30,000 euros (it will be reduced to 20,000 euros) and which, according to the bank, includes interest rates are up 0.80% to 1% above the current plan. The updated program will be available from tomorrow, Friday, February 10, and applies to term deposits for 12 and 24 months, which allows the depositor to “fix” a particularly attractive yield, which gradually increases every quarter, reaching up to 3% depending on the amount and term of the deposit . Alpha Progress Plus offers quarterly interest, offering the option to increase your deposit amount, as well as the ability to stop at the end of each quarter for free. Specifically:

• Alpha Progress Plus 12 months gives an interest rate of up to 3% depending on the amount of the deposit and an average interest rate of 1.25% to 1.75%.

• Alpha Progress Plus 24 months gives an interest rate of up to 3% depending on the amount of the deposit and an average interest rate of 1.50% to 2%.

Accordingly, Eurobank offers for registration from next Monday 13 February until Friday 17 February with a minimum deposit of EUR 10,000:

• A term deposit for 12 months with increasing interest rates of 1% and 2% respectively in the first and second half of the year and quarterly interest payments.

• Term deposit for 24 months with increasing interest rates of 1%, 1.5%, 2% and 2.5% in the first, second, third and fourth semesters respectively, and quarterly interest payments.

Mutual funds

In addition, Eurobank, through its subsidiary Eurobank Asset Management AEDAK, has until Friday, February 17, a Dis GF Target Maturity III Bond mutual fund with a maturity of 5 years. The product is aimed at investors seeking regular income, as it provides the opportunity to distribute dividends annually, taking into account market conditions and the current performance of A/C assets. For 2023, a dividend distribution of up to 3.10% is requested, payable in February 2024. This A/C is owned by the Greek Funds family, which invests its assets in a diversified quality portfolio of Greek and European bonds.

This is an A/K bond that follows a “buy and hold” strategy to provide capital through bond redemption at maturity for a shareholder who will own the product until 2028. In the mutual fund sector, Alfa-Bank spun off “Alpha Target Maturity I 2028” in January, which, with features such as a 3% dividend distribution for the first year and participation of just €1,000, raised over €360 million within a month , while in the near future, as the bank notes in a statement, “Alpha Asset Management is expected to introduce new products with corresponding returns.”