Conditions under which deposits are collected in the Savings House FULM DOO Skopje

 The Savings House accepts at call deposits, time deposits and flexi deposits (hereinafter: deposits) with a variable and fixed interest rate. 

A deposit is denar or indexed with Euro on the day of receiving the deposit. Deposits with a time limit of 1 (one) to 84 (eighty-four) months. Deposits until 31.12.2017 are automatically renewed together with the due interest on the day of maturity of the deposit. Deposits invested from January 1, 2018 can be automatically renewed together with the due interest or only the deposit can be renewed. The deposit can be with capitalization or without capitalization of interest.                                                                                                         

The minimum total amount of a term savings deposit is 2,000.00 denars, excluding the Member deposit, Flexi deposit, At call deposit, Youth savings club, and limited deposits.

The Savings House secures the savings deposits with the Deposit Insurance Fund.

The Savings House guarantees with its founding capital for the security of the deposits.

Variable interest rate is calculated as the sum of the last effective referent interest rate (June 30 and December 31) increased or decreased by appropriate percentage points. The interest rate will be revised according to the semi-annual change in the reference interest rate published by the NBRM. On the day of the receiving the deposit, the Savings House shall disclose the latest applicable interest rates. The fixed interest rate is unchangeable for the period of the time deposit. On maturity, deposits are renewed for the same period and at interest rates that are valid on the date of the renewal.

Interest is calculated on the basis of daily compound method. For at call deposits which at 31.12 have a balance of member deposit or are existing users of services and/or are users through family deposits, interest is calculated as at 31.12 for the current year according to the last published interest rate. Deposits that will be prematurely cancelled, on the date of cancellation of the deposit interest will be calculated and paid as for at call deposit according to the last published interest rate. For capitalization deposits, interest is calculated on monthly basis and it is transferred monthly to the time deposit, where the increased amount (principal and interest) is the basis for calculating interest) recorded as mature up to the date of interest disbursement, whereas for deposits without capitalization, interest is calculated on monthly basis and recorded as monthly mature interest on the maturity date and made available to the at call deposit. The foreign currency clause refers only for protection for more than 5% (five percent) devaluation. When the interest rate is changed, the Savings House can make a one-off adjustment of the interest rate through a confidence rate. Due to the longstanding confidence in saving, when interest rate reduction occurs, the calculated interest rate will be increased by 0.1 – 0.5 % depending on the period of initial depositing, in relation to the last published, for the deposit product in question. The rate of confidence is calculated on the day of the interest rate reduction and is valid until the day of the first maturity of the deposit. If the depositor on the date of the deposit disbursement decides to complete the deposit disbursement through non-cash payment, the Savings House will pay a bonus interest of 0.1% of the paid amount (interest and/or deposit).

The depositor may terminate the contract even before the expiration date with a previously submitted written request of at least 2 (two) working days before the termination of the contract and only on the basis of the Savings House consent.

The depositor has the right to appoint persons who will dispose of the deposit. If the depositor is a minor or a person with developmental disabilities, legal representative/s or legal guardian/s shall invest and dispose of the deposit. Deposits can be used to secure a loan agreement, for which the depositor signs a Statement and the deposit in question becomes a limited deposit. The limited deposit is released on the day of settlement of all obligations from the loan agreement by which this deposit will be released and will be placed on the depositor’s disposal.

Deposits accepted by 31.12.2017, a variable interest rate is determined, except for deposits with fixed interest rate up to the day of the term and membership deposits. The Director of the Savings House has the right to approve an exception for change of the conditions of the deposit, and to inform at the next session of the Sole Owner.

Fees are in accordance with the tariff of the FULM Savings House. The mature interest is decreased by the amount of the Income tax on deposit interest (earned). The income tax on deposit interest is calculated and paid in accordance with legal regulations.

According to Decision of  28.09.2022