What Monthly Income is
A time deposit with a three- to twelve-month duration with a fixed interest rate; interest payment takes place at a monthly basis and is automatically credited to your account of choice (e.g. savings account).
Interest rates are determined by the deposit amount.
The deposit amount may vary between €5.000 and > €1.000.000.
Past due interest payment is available every month (due date is determined by the time deposit start date) with no extra cost
In case you perform an early withdrawal, you are subject to a penalty affecting the accrued interest, determined by the withdrawal amount and the days remaining until maturity; in any case, the original capital is not affected whatsoever.
In order to open an account at the Co-operative Bank of Chania, you will need the following documents:
ID or Passport
Recent income tax statement
Certificate of employment in case you are employed
A bill from a Public Utility Organization or any other document certifying your address
A current phone bill confirming your phone number.
Where applicable, you may be asked to provide further and/or different documents. Please visit or contact any Βranch of the Cooperative Bank of Chania.