Alpha Bank Cyprus on Friday announced the launch of a new deposit product, offering a fixed deposit rate of 2.50 per cent annually for twelve-month deposits exceeding €70,000.

“With a focus on offering increased returns, Alpha Bank provides customers with the opportunity to enhance the yield of their twelve-month time deposits exceeding €70,000, with a stable annual interest rate of 2.50%,” the bank said in an announcement.

Moreover, it noted that at the end of the specified deposit period, customers have the option to withdraw, increase their capital, or renew the deposit and capitalise on the interest.

In addition, through its ‘Alpha Time Deposits’ series, Alpha Bank also offers other options to customers, based on their specific needs.

It provides a fixed annual interest rate of 1.60 per cent and 1.50 per cent for deposits exceeding €50,000, with durations of 18 months and 24 months, respectively.

It should be noted that interest is non-compounded, with payment made upon maturity of the time deposit.

For more information, terms, and conditions, interested parties can visit the following link: