DEPOSIT

You can open a term deposit at any SKB outlet, only if you also open a personal account with at the same time, on which your funds will be released at the maturity of the deposit. 

During the term of the deposit, you may only withdraw from the contract in cases of proven force majeure:

• unexpected illness or injury to the depositor or a close family member,
• death of a close family member,
• natural disaster.

Taxable persons who are residents of the Republic of Slovenia are required to comply with the Personal Income Tax Act and submit a tax return for interest from cash deposits in banks and savings banks in Slovenia, and in banks and savings banks of other Member States of the EU, by 28 February of the current year for the previous calendar year.

The tax return form is available on the FURS website. The taxpayer can file the return to the tax office located where he/she has permanent residence, or in electronic form using the eDavki system. Taxpayers whose total income from interest accrued does not exceed the legally determined amount are not required to file an income tax return. The tax-exempt amount of income from interest is currently 1,000 EUR.

Based on the tax return, the tax authority issues a tax assessment decision on the amount of personal income tax. The deadline for payment of tax is 30 days from the date of receipt of the decision. As of 1 January 2013, the tax rate on interest is 25 %. This tax is final. Personal income tax is not paid on interest accrued on a positive balance in a transaction account or a personal account.

Term deposit with fixed interest rate

The Bank shall calculate interest on a fixed rate term deposit at a fixed interest rate. The rate is set on the day of the contract and does not change during the contractual term.

Term deposit with varible interest rate

The Bank shall calculate interest on a variable rate term deposit at a variable interest rate. The interest rate consists of consists of the 1 or 3 month Euribor rate and a fixed interest rate supplement.

The reference interest rate is calculated daily. The rate is set on the date of conclusion of the contract and changes every three months, counting from the date of conclusion of the contract. At the end of each three-month period, the new reference rate applicable at the date of the change shall be taken into account. The interest rate supplement remains fixed for the entire term of the deposit.

The Bank calculates the interest on a daily basis and proportionally, and pays out or disburses it in accordance with the contractual provisions. The Bank shall calculate interest taking into account the actual number of days in a month and 365/366 days in a year. Days are counted on the first but not the last day of the business event.

The Bank shall calculate interest using a formula where the meanings are as follows:

o = interest

Go = principal

p = interest rate

d = actual number of days in the year for which interest is calculated
 

Funds held in term deposits are protected pursuant to the Deposit Guarantee Scheme Act.  You can find out more about the Deposit Guarantee Scheme on the website of the Bank of Slovenia.