a wide network of offices for performing transactions
a choice of holding conditions and holding periods
Deposit account opening
Term deposit accounts are set up for individuals (their representatives) when they turn directly to a branch office of the bank.
To set up an account:
- go to a branch office of the bank and present your personal identification document;
- choose a type of deposit, sign a Term Deposit Agreement
Internet deposit openingfor those who appreciate the advantages of branchless banking
Advantages of Internet deposits:
- opened in branchless banking systems (Internet banking system, infokiosks of the bank, mobile banking);
- easy and convenient;
- allow managing funds via Internet without visiting an office of the bank;
- on the maturity date the bank transfers the deposit with accrued interest to a bank card.
To open an internet deposit:
- obtain a bank card of Belarusbank with opening a current account in the currency of the selected Internet deposit;
- connect to the Internet banking system or install the M-banking mobile application;
- choose a type of deposit and open an Internet deposit in the Internet banking system or in the M-Belarusbank mobile application.
For holders of payment cards issued by Belarusbank , users of Belarusbank's Internet and mobile banking systems: just open an Internet deposit.
In accordance with the law of the Republic of Belarus individuals - non-residents of the Republic of Belarus can set up bank accounts in foreign currency and in Belarusian rubles and carry out account operations in accordance with the procedure established for individuals – non-residents.
Documents presented to a branch office of Belarusbank must be issued by an authorized body of the foreign state in which you are citizen and made in Russian or Belarusian or must be translated into Russian or Belarusian, in this case correctness of the translation must be attested notarially or the translation must be certified (attested) by a foreign designated person (body, institution) within their competence.
Important facts about deposit maturity dates
Revocable term deposits – deposits that can be early withdrawn by the depositor in a manner stipulated by the bank deposit agreement.
Irrevocable term deposits – deposits that cannot be early withdrawn by the depositor.
Under the existing laws of the Republic of Belarus the state guarantees full safety of funds of individuals in Belarusian rubles and foreign currency placed into accounts and (or) deposits with Belarusian banks, and recovery of 100 percent of such funds in the account or deposit currency, should the National Bank decide to revoke the bank's license.
Taxation of interest income on deposits
Interest income on deposits is subject to income tax in case of actual placement of funds in Belarusian rubles for less than 1 year, and in foreign currency for less than 2 years, and only if interest rate on deposits exceeds the bank's effective interest rate on demand deposits. In Belarusbank a "demand" interest rate on deposits:
- in Belarusian rubles equals to 0.5% per annum;
- in foreign currency equals to 0.1% per annum;
Income tax rate in Belarus comprises 13%.
Yield on securities (savings certificates and bonds for individuals) is not subject to income tax.
Republic of Belarus acknowledges the priority of universally recognized principles of international law and brings the tax legislation in line with it.
If rules contained in international treaties of the Republic of Belarus differ from those contained in Belarusian legislative acts, international treaties shall be applied, unless otherwise required by international law.
If Belarusian legislative acts stipulate more preferential terms of taxation than those stipulated in the international treaty of the Republic of Belarus, Belarusian legislative acts shall be applied.
For the purposes of application of the provisions of Belarusian international treaties regarding taxation a depositor has to submit to the bank evidence suggesting that he is a resident of a foreign state with which the Republic of Belarus has signed an international treaty regarding taxation issued (certified) by a tax or other competent authority of the foreign state (hereinafter – confirmation).
The confirmation may be submitted to the bank both before and after payment of income tax. If the confirmation is not submitted, income tax shall be withheld in accordance with the procedure established by Belarusian legislative acts.