Term Savings

More Details

How your term account works

The CAT is a financial investment without bad surprises: no risk of capital loss and known interest rate.

Unlike classic bank savings accounts, the calculation of interest on a CAT is daily. The determination of the amount of interest therefore depends on the exact number of days of immobilization of your capital, from the day of the deposit until the day before maturity.

There is no maximum limit on the amount for a term deposit. However, you must hold a NOVA deposit account to subscribe to a CAT.

Yield and taxation of a term account

The term account generates a yield fixed at the time of subscription to the contract. The interest rate is determined by:

• market conditions at the time of subscription to the term account,
• the duration of the investment,
• the amount invested.

Even in the event of falling rates, your remuneration remains contractually guaranteed(1) throughout the duration of your CAT.

Thus, the funds invested in your term account are secure. Your investment will suffer no capital loss.

The interest earned on the CAT is subject to income tax and social security contributions according to the regulations in force for natural persons who are tax residents in France.

To find out the current conditions for term deposits, we invite you to contact your advisor who will be happy to explain them to you.

Unblocking a term account

Your savings are blocked until the term fixed at the time of signing the term deposit contract.

At maturity, your capital, increased by the interest earned, is automatically transferred to your NOVA deposit account. The interest paid on the term account is subject to income tax and social security contributions for natural persons who are tax residents in France.

Partial withdrawals are not an authorized option for this term investment. Any request for early withdrawal is made on the entire amount placed and leads to the closure of the term account. This also implies the application of a penalty on the nominal annual gross interest rate. These penalties are clearly indicated in the contract(2) at the time you subscribe to it.