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In accordance with the requirements and needs of its clients, Nova banka has been creating and providing services of various models of savings for many years. Since the beginning of 2010, the Bank has recorded a positive trend in terms of deposits and savings of citizens. Thanks to the implemented marketing campaign "Štedi jer vrijedi"("Save because it's worth it") savings and deposits of citizens continued the trend of growth in 2016. In the first three quarters of 2016, there were 50.1 million BAM of new term deposits, representing a growth of citizens' deposits by 6.74% in comparison to 31 December 2015. In 2016 total deposits of citizens in Bosnia and Herzegovina grew by 358 million BAM, where Nova banka participated with 12.06% in the overall growth during that year.
In addition to the a-vista savings and classical term deposits, depositors also had at their disposal open savings accounts, children's savings, step by step, free term savings and annuity savings. Most models of savings refer to savings in BAM and EUR currencies, while savings in other currencies is possible with the open and term savings. Opening a savings account in Nova banka is free of charge.
The clients of Nova banka show most interest for annuity savings, because of the possibility of using interest in advance or during the course of the term period. Depending on personal needs, clients can choose whether the interest will be paid in advance for the entire period of the deposit or for a month, three months, six months or a year. The interest rate on annuity savings is fixed and amount to 3.00%. For easier insight and control of balances on savings accounts, along with the annuity savings the Bank offers to its clients the possibility to receive information through an SMS message on accrued interest and the balance on the account.
Open savings offer to clients the possibility of subsequent, multiple payments during the term of the contract, while the term deposits are intended for those who wish to deposit their money for a fixed period on the basis of a single payment. Free term savings allow the clients to save successively, carrying out multiple payments on the term deposit account according to their financial capabilities. This means that clients can carry out periodic payments to the same account without having to contract a new term deposit. In this way the funds are gradually accumulated and create a secure savings. The clients can save in all currencies, and the interest rate depends on the amount of savings deposit. Depending on the amount of funds saved, the client can shift to a higher category with a higher interest rate, and by payment of funds to the client to a lower category with a lower interest rate.
As for the children's savings, parents are more interested and decide to save in Nova banka, because they recognize it as an investment that is useful for planning the future child's expenses. At the same time, it is a good life decision that the youngest should also learn to appreciate. Nova banka offers a savings product that allows clients to perform periodic payments to the term savings account, and thus, when they have free funds, they increase the base for the calculation of interest and provide higher yields. This type of savings is stimulated both by fixed interest rates and by bonuses. If the client wants to retain savings during the entire contract period, the Bank adds a certain percentage of the bonus to the total accrued interest, and its height depends on the term of deposit. The longer the terms, the higher the bonus on the interest. In this model of saving the clients mostly choose longer term savings, i.e. the periods of three, five and ten years. One of the reasons is that clients, from the very birth of a child, start monthly to allocate a portion of funds for term deposits, so that it reaches a higher sum until a certain age of the child, and at the same time interest rates are much higher for a longer period of saving.