Procedures and Services

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BRANCH BANDEC 8772

"Imías"

In accordance with the provisions of Decree Law No. 173 "On banks and non-bank financial institutions", the Banco de Crédito y Comercio (BANDEC) was established on November 12, 1997, pursuant to the provisions of Agreement No 3215 of the Executive Committee of the Council of Ministers of the Republic of Cuba.

On the other hand, it was also registered in the "General Registry of Banks and Non-Bank Financial Institutions", with No. 14, folios 26 and 27, December 22, 1998.

The municipality has a bank branch 8772, it is located at Calle 5 A, # 21, La Línea, in the town of Imías.

Corporate mobile …………………………………… 52122526

Landline Telephone ………………………………………… ..21880277

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It provides services aimed at: companies, individuals and other forms of non-state management. It has 1 paperwork office, located in the Casimba community, belonging to the Turquino Plan.

SCHEDULE

MONDAY TO FRIDAY

8:00 a.m. - 3:00 p.m.

SATURDAY

8:00 AM. - 11:00 AM.

Credits for constructive actions: financing for Cuban natural persons, destined to the purchase of construction materials in the commercial network and the payment of labor. They are granted in national currency, but allow provisions in CUC at the current exchange rate for purchases in stores. The modalities to be used will be simple credit and line of credit.

• Minimum amount to grant: 1 000.00 CUP
• Minimum monthly amount to pay: 50.00 CUP

Guarantee:

• The guarantees included in the current legislation are accepted.

Credits for the purchase of cooking equipment: financing for Cuban individuals, intended for the purchase of food cooking equipment in the commercial network. It is granted in national currency. The modality to be used will be the line of credit.

• Minimum amount to grant: 300.00 CUP
• Minimum monthly amount to pay: 30.00 CUP

Guarantee:

• For amounts less than 5,000 CUP a joint guarantor is accepted who can cover the monthly payments.
• Other guarantees included in current legislation are accepted.

Funds transfers: Banco de Crédito y Comercio transfers funds by order of its clients to other Bandec branches or other banks, for the benefit of the client or others, both in CUC and CUP. They can be imposed through cash deposits or from a customer account and will be processed by phone, ordinary or electronic mail or by remote banking, according to customer preferences. There are no amount limits.

Demand savings account: account intended to save Cuban and foreign natural persons, both in national currency and in USD, EURO and CUC currency. It can be opened by a single holder (individual) or by more than one. In the latter case they can be Indistinct (the holders can operate separately) or Joint (the joint presence of the holders is required to operate). They can be operated by savings book or magnetic card.

• Initial deposit: 50.00 CUP or 50.00 CUC

Interests:

• Annual rate of 0.5%.
• Accounts in EURO do not earn interest.
• Demand savings accounts accrue interest from 200.00 CUC, 200.00 USD and 400.00 CUP

Fund formation savings accounts: account for Cuban natural persons associated with a payment center linked to the branch where the account is opened. It consists of making monthly payroll discounts in amounts agreed with the client to increase a savings account. This type of account will only be individual, in CUP currency and can be operated with a savings book or a magnetic card.

• Initial deposit: 20.00 CUP at the branch and balance 0 when it opens at the workplace with prior coordination with the bank.

Interests:

An annual rate of 2.0% will be applied with a 2.0% discount if no withdrawals have been made in the previous 12 months.

Fixed-term deposits: account for Cuban and foreign individuals, both in national currency and in CUC and USD currency. It constitutes a commitment between the client and the bank to save within certain periods (3, 6, 12, 24, 36, 48 and 60 months). The extraction of the amount before the fixed term implies a penalty. They can be individual, indistinct or joint.

Initial deposit:

• National Currency (CUP): 100.00 CUP
• Freely convertible currency (CUC): 200.00 CUC

Interests:

• Interest will be paid once the term has expired, if the account is closed before the agreed term, interest will not be paid for the term not elapsed.
• If the client does not appear on the day of expiration, the account is extended for the same period and amount.

Certificates of Deposit: Deposit in installments addressed to Cuban and foreign natural persons, both in national currency and in freely convertible currency. A Certificate of Deposit is issued, which can be negotiated and transferred to another person before the deadline if you need liquidity without canceling the underlying deposit agreement. It constitutes a commitment between the client and the bank to save within certain periods (3, 6, 12, 24, 36, 48 and 60 months). They can be individual, indistinct or joint.

Initial deposit:

• National Currency (CUP): 100.00 CUP
• Freely Convertible Currency (CUC): 500.00 CUC

Interests:

• Interest will be paid once the term has expired.
• If the account is closed before the term, you will only be entitled to a percentage of the interest.
• If the client does not appear on the due date, the account is not automatically extended.

Fixed-term deposits with advance interest payment: term deposit directed at Cuban individuals in national currency. It constitutes a commitment between the client and the bank for savings within 72 months. It operates with a non-negotiable certificate of deposit. The client has the possibility to collect the interest in advance, after at least one year after the deposit has been formalized. They can be individual, indistinct or joint.

• Initial deposit: National Currency (CUP): 1 000.00 CUP

Interests:

• They will be paid once the deadline has been met or in advance, if the client requests it.
• If the account is closed before the term, the bank will deduct the interest paid in advance from the principal.
• If the client does not appear on the expiration day, it is extended for the same term and amount.

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Investment credits: are granted in national currency to individual farmers or usufructuaries in the modalities of simple credit (a single installment) or line of credit (several installments) with terms between 3 and 10 years.

Financing purposes:

• Promotion, renewal or sealing of permanent crops (except forestry). Maximum term between 4 and 10 years, depending on the crop.
• Forest plantations. Maximum term between 3 and 7 years.
• Land conditioning. Maximum term 5 years.
• Acquisition of machinery, equipment, resources and working animals. Maximum term between 5 and 10 years.
• Construction of drying rooms, curing houses, kalfrisas, fences and other rural buildings. Maximum term between 5 and 10 years.
• Acquisition of cattle for breeding and milk. Maximum term between 5 and 10 years.
• Capital repairs of tangible fixed assets. Maximum term between 5 and 10 years.

Requirements:

• Registration in the state register according to the form of production.
• Certification of legal land tenure.
• Insurance policy or application thereof.
• Operate a bank account at the branch of the request.
• Appointment and signature of the people authorized to contract and pay debts (if the case requires it).

Guarantee:

• Agricultural insurance
• Solidarity bondsmen
• Pledge of accounts
• Articles of property (jewelry)
• Motor vehicles
• Big cattle
• Tractors and combines
• Personal property mortgages (summer homes and waste lots)

Credits for working capital: will be granted in national currency to individual farmers and usufructuaries in the modalities of simple credit (a single delivery) or line of credit (several deliveries) for a maximum term of 18 months.

Financing purposes:

• Temporary crop production (production cycle less than 18 months).
• Permanent plantations (production cycle over 18 months).
• Livestock production.
• Self-consumption.
• Posture production.
• Protected, semi-protected, organoponic crops and intensive orchards.
• Marketing expenses.
• Benefits to selected productions.
• Fresh vegetables and condiments production.

Requirements:

• Registration in the state register according to the form of production.
• Certification of legal land tenure.
• Insurance policy or application thereof.
• Operate a bank account at the branch of the request.
• Appointment and signature of the people authorized to contract and pay debts (if the case requires it).

Guarantee:

• Agricultural insurance
• Solidarity bondsmen
• Pledge of accounts
• Articles of property (jewelry)
• Motor vehicles
• Big cattle
• Tractors and combines
• Personal property mortgages (summer homes and waste lots)