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Tutorial: Golden premium deposits

What are Golden premium deposits?

Golden premium deposit is a lump sum monetary deposit managed in the Czech currency whose interest yield is premium. Golden premium deposits are intended for clients who wish to participate in the development of the price of gold without a risk that the amount invested may be lost. The product tenure is 3 years.

How do Golden premium deposits work?

The yield of Golden premium deposits will be calculated on the basis of monthly monitoring of the gold development. The underlying asset is the London afternoon fixing of the price of gold in USD. Gold profits and losses in the course of every month are reduced.
In each of the 36 monthly periods, profits and losses are only calculated within the currently monitored moth.
The recorded month-by-month values will be summed up during the deposit tenure. As soon as the running total of the monthly monitoring results reaches the predetermined value, the premium is locked at that level. Further development cannot reduce the locked yield, but the premium can continue to grow. The same rule for the yield locking will also apply to multiplies of the determined value.

Your benefits

For the calculation of the premium, losses resulting from a possible fall in the price of gold within one period will be reduced, and simultaneously they will be fully reflected in the favourable initial level for the following month.
As soon as the running total of the monthly monitoring results reaches the predetermined value, the premium is locked. Further development cannot reduce the locked yield, but the premium can continue to grow.

Your advantages

  • An option to reach the Premium Yield every month
  • The deposit guarantees 100 % of the means invested with a minimum yield of the predetermined value at maturity without regard to the market development
  • Yield locking
  • Legal insurance of deposits applies to premium deposits alike to term deposits.
  • The deposit is set up and managed free of charge.
  • All CZK premium deposits may be bought at ČS branches or through SERVIS 24.
  • Thanks to a fixed maturity date, other investments can be planned.

You should know

  • Golden premium deposits are liable to the same tax as term deposits, yields of natural persons are subject to 15%-withholding tax.
  • Golden premium deposits may be terminated ahead of schedule at branches of Česká spořitelna. In such a case, however, a penalty fee is charged due to additional bank costs. The fee is 3% of the withdrawn amount with Golden premium deposits.


Purchase conditions

  • To set up Golden premium deposit, you need to have an asset account of investment instruments with Česká spořitelna. Opening an asset account is free of charge, it can be done at any branch of Česká spořitelna, an investor - natural person will have to submit a valid identity card, a legal person will have to submit documents of corporate personality.
  • To set up Golden premium deposit, it is not necessary to have a money account at Česká spořitelna. Money for the payment of Zlatý prémiový vklad may be sent to the respective collecting account from any Czech Crown account.
  • For Golden premium deposit, a minimum investment is CZK 10,000.

Who can buy?

  • Citizens of the Czech Republic or foreign nationals over the age of 18 years (legal representative in the case of a minor)
  • Legal person, natural person–entrepreneur
  • Other entities established under the laws of the Czech Republic (foundations, movements, political parties)

How Golden premium deposits react to...

… growth of gold prices?
Any increase of gold prices is always good news for the premium amount. Moreover, the client can profit from the yield locking in case of a long-term increase of the gold price.

… drop in gold prices?
A drop in gold prices is not good for the yield amount, but for the premium calculation, losses from a possible drop within one period are reduced. Simultaneously, they will be fully reflected in the favourable initial level for the following moth.





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