Time Deposits

A Fixed-term Deposit is a tool to increase your capital in the short, medium, and long term. It is an investment alternative allowing you to earn more for your money with the support of a solid bank.

Characteristics and Benefits:

  • Competitive interest rate
  • Different Terms
  • Guaranteed confidentiality in the management of your funds
  • Possibility of guaranteeing loans with an attractive differential

Requirements for Natural Person:

  • Minimum opening amount of $10,000.00 (locals) / $5,000.00 (foreigners).
  • Copy of valid personal identity card (locals) / copy of valid passport (foreigners).
  • Second Identification (in the case of foreigners, the ID Card of their country of origin, driver license, or social security card may work as second ID).
  • Fully completed application form provided by the bank.
  • Two (2) banking, commercial (original, with validity of no more than 30 days) or APC reference letters (in the case of the latter, of more than one entity). The letters can be alternated, i.e., one banking letter with one commercial letter. Applies for foreigners.
  • Proof of income of the customer (work certificate, tax return, or income statements). Applies for foreigners.

Requirements for Legal Entity:

  • Minimum opening amount of $10,000.00 (locals) / $5,000.00 (foreigners).
  • Articles of Incorporation (original).
  • Public Registry Certificate (original, with validity of no more than 30 days).
  • Copy of identity card or passport and second ID (in the case of foreigners, the ID Card of their country of origin, driver license, or social security card may work as second ID) of each one of the executive officers, members of the Board of Directors, and directors of the company.
  • ID card or passport and second identification of each of the signatories of the account.
  • Two (2) banking reference letters from each of the signatories of the account, commercial references (original, with validity of no more than 30 days) or APC references (in the case of the latter, of more than one entity). The letters can be alternated, i.e., one banking letter with one commercial letter.
  • Minutes of Shareholders’ Meeting requesting the opening of the account, appointing the signatories, indicating the way they are going to sign in the account, and requesting the affiliation to Online Banking.
  • Two banking and commercial reference letters of the company, if it has more than 1 year of operation.
    **If the company is new, please bring two commercial reference letters (suppliers or customers). If the company does not have such letters, signatories’ letters will be accepted.
  • Documents to demonstrate the source of the funds that will feed the account, and if it has any relationship with company(ies) abroad, Financial Statements of such company(ies).
  • Provide document or note describing the activity of the company.
  • Cost per confirmation of reference letter: $10.00 per letter (Applies for foreigners)