August 28, 2013
All interested people can take part in Citi Hungary's free online virtual game at www.citibank.hu to experience how the Premium Deposit works. In the virtual game available until December 31, 2013, every registered individual will have access to virtual forints; this will enable customers to try before they buy. Individuals are invited to select one currency pair out of 30 options available from HUF, EUR, USD. CHF, CAD and GPB currencies to start their preferred scheme with, and they can also chose a strike rate. This way, they will have a personal experience with the product and see how they may realize as much as a double digit interest rate.
There are no criteria or covenant for participation, however, if someone decides to leverage what this product can offer in reality, one can materialize the interest gained in the virtual game as described in the rules of the game. The rules of the game are posted on the www.citibank.hu website.
Ahmed Aftab, Citi Country Officer for Hungary said, "The number of our customers using our Premium Savings Account increased three fold in the last one year and this shows how popular this product is. Our aim with this online virtual game is to promote this product to a wider target audience."
Jon Wiggins, Consumer Business Manager for Citi Hungary also remarked, "Our highly skilled, well-trained bankers are providing thorough information about this product to our customers. However, since in this offer customers are setting up their schemes by selecting the currency pair and strike rate, launching this online virtual game gives even more customers the opportunity to select this product after having the chance to test how it works."
About the Product:
The Premium Savings Account is qualified as a non-deposit savings product, without capital protection, which has the potential of higher rate of interest than available for a standard time deposit, depending on the exchange rate movement of the underlying currency pair. Should the base currency have weakened or remained unchanged against the selected currency pair at the end of the tenor, the amount of the principal increased with the earned interest rate will be credited to the customer's account in the base currency. Customers are also eligible to the interest and principal amount if the base currency strengthened at the end of the tenor, however in this case this amount will be credited to the customer's account in the alternative currency, exchanged at the FX rate selected in advance by the customer when signing the contract.
The Premium Savings Account is available with no fee through the Citi Branch Network and following the first transaction initiatied in a branch, it can also be set up through a recorded telephone line with the help of Citi's treasury experts, or the Citibank Online internet banking platform. The minimum investment amount is HUF 1 million or USD/CAD/EUR/GBP/CHF equivalent.
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