FAQs about Online Festgeld | Austrian Anadi Bank

FAQs about Online Festgeld

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Anadi Online-Sparen: Häufige Fragen (FAQ)

Anadi Online Festgeld

We answer the most frequent asked questions about the Anadi Online Festgeld before they even emerge.


What actually is the Anadi Online Festgeld (time deposit) ? How is the interest calculated? Can I cancel during the validity period? How secure is my money? We give answers to these questions along with many more.
Anadi Online Festgeld Overview (pdf)


How do I open an Anadi Online Festgeld?

Prerequisites for opening an account:

  • Natural person
  • 18 years old
  • Resident person
  • Main residency in Austria
  • Applicable identification, valid photo ID
Anadi Online Festgeld, what is is?

Anadi Online Festgeld is a limited time investment of a one-off payment of minimum EUR 2,500.- and maximum EUR 500,000.- (per client and per time deposit action) with a fixed interest rate and an agreed upon period of validity. An upper limit of EUR 500,000.- applies per Customer and per time deposit action.

When will the time deposit investment be transferred?

Your Anadi Online Festgeld and the Festgeld settlement account will be activated as soon as we receive all forms and application filled out and completed, and we have reviewed and countersigned the documents. We will inform you of the activation by e-mail. Once your account has been activated, we will withdraw the amount from the reference account into your Festgeld settlement account. Afterwards, your money on the Festgeld settlement account will be transferred to your Anadi Online Festgeld.

Are payments and withdrawals onto and from the Anadi Online Festgeld possible during the validity period?

No. Payments and withdrawal transactions are not permitted during the validity period of your Anadi Online Festgeld.

Can an Anadi Online Festgeld be opened on behalf of a company or a club?

No. The Anadi Online Festgeld can only be opened by natural persons.

How is interest calculated on the Anadi Online Festgeld?

The interest on your investment is calculated according to the agreed upon validity period and agreed interest rate specified at time of account opening. Interest begins at the time when your investment capital is credited onto the Anadi Online Festgeld and ends on the last day of the agreed upon validity period. At the end of each completed year starting on the date investment capital was credited into the Anadi Online Festgeld, the Anadi Online Festgeld will close each respective past year with the attributed interest yield.

What is the Compound Interest Effect?

The compound interest effect is the result of accumulated interest on already existing capital from the past year which is then reinvested. In this way, the investment sum, as well as the interest return, increases. The value of the capital increases quicker. The higher the interest and the longer the validity period are, the more effective is the compound interest effect.

Compound Interest effect – example:
EUR 10,000.- are invested over a two year validity period. The interest rate is 2% per year minus capital gain tax. In this time period returns amount to about EUR 302.25 minus capital gain tax. The closing investment sum amounts to roughly EUR 10,302.25.

What are the prerequisites or requirements to open an Anadi Online Festgeld?

Requirements for opening an Anadi Online Festgeld consist of holding an account within the terms of the Anadi Online-Sparen as well as the completion of the “Agreement to participate in Internet Banking”. In the course of opening an Anadi Online Festgeld, an Anadi Online-Sparen (Festgeld settlement account) within and according to the terms of the Anadi Onlin Sparen will be opened which handles the your Anadi Online Festgeld.

All payment flows in connection with the Anadi Online Festgeld (for example initial booking, interest payments, as well as reimbursements at end of validity period) will take place and be handled through the fixed-deposit clearing account. The Fixed-Deposit clearing account must remain open for the length of time that the Anadi Online Festgeld are running. The Festgeld settlement account cannot be dissolved before the expiration of the validity period and before the balance of the running Anadi Online Festgeld is calculated.

During the opening of the online account, it is necessary to give a specified account from a bank other then Anadi, where an automatic single payment of the desired amount can be withdrawn and transferred into your Festgeld settlement account. Once the transfer has successfully been completed into your Festgeld settlement account, a single automatic transfer of the funds from your settlement account to your Anadi Online Festgeld will occur and the interest starts to run. In order for a successful withdrawal, the client must make sure that the reference account covers the amount that will be withdrawn.

We will inform you in the event of failure to withdraw due to insufficient funds. Please take note to provide sufficient funds within 14 days of issuing the order of the Anadi Online Festgeld for the transfer onto your Festgeld settlement account. Otherwise, the contract will not take place and the Anadi Online Festgeld will be erased. The account contract will only take effect with the return of the account contract and completion of the required legal identification or digital signature via internet banking.

How secure is my capital in the Anadi Online Festgeld?

What is covered by my deposit/investment insurance?
In principle, all balances on all interest-bearing and non-interest bearing accounts or saving accounts, such as checking accounts, retirement accounts, other current accounts, time deposits capital savings accounts or overnight saving accounts are eligible for reimbursement or refund.

Up to what amount is my balance secured?
Your balance (including interest) is secured up to a maximum amount of EUR 100,000.- per credit/financial institution and per person. This protection exists independently of the number of accounts and/or saving accounts of the concerned institution. The deposit insurance therefore applies per investor and per credit institution. Since the deposit insurance at every credit institution falls under its own banking license, it is insignificant if a credit institution belongs to the same credit institution group (the majority of higher ranking credit institutions based in Austria are significantly involved in other credit institutions) Money balances at any of these banks are insured per investor up to a maximum pay-out amount of EUR 100,000.- irrespective of each other.

What are limited-time covered deposits?
In certain cases, you may apply within 12 months of the start of your deposit insurance to request an increase in your deposit balance from the general maximum protected amount of EUR 100 000 to a maximum total of EUR 500,000.-. You must, however, prove that your deposit originates from real-estate transactions in connection to residential real-estate, or fulfills legally foreseen social purposes that are somehow tied to you due to life circumstances such as marriage, divorce, retirement, termination, dismissal, disability or death, or payment from insurance benefits or compensation benefits resulting from bodily harm on your person from criminal acts or false criminal prosecution. In all cases, the application request must be made within 12 months of the received deposit or from the point in time that the deposit can be legally transferred.

Is there a deductible or retention requirement?
No. There is no deductible or retention requirement for neither natural persons or for non-natural persons.                           

Is my earned Interest also insured?
Yes.  Also the interest on your deposit balance to be paid by your credit institution in the event of payment becoming due is included in the deposit insurance and will be factored in.

Can I claim compensation for my deposit balance for covered deposits as well as from securities transactions under the deposit/investment insurance?
No. Double compensation entitlement is not possible. Balances from all your accounts, that are either covered deposits, as well as investment from transactions in securities, are insured under deposit/investment insurance. If the criterion is fulfilled according to the terms stipulated by deposit/investment insurance and those by investor compensation, it may be possible to file a claim to each and independently from another; a consolidation of both is not possible.

Find more information about Investment insurance and investor compensation here (pdf).

With what starting amount can I open an Anadi Online Festgeld?

The Anadi Online Festgeld is a time deposit with a one-off single payment of minimum EUR 2,500.- and maximum EUR 500,000.- (per client and per online time deposit installment) at start of validity period with a fixed interest rate for an agreed upon period of validity.

What options do I have at the end of the validity period?

At the end of the validity period, your invested capital including interest minus capital gains tax is available to you on your Festgeld settlement account

  • You  can flexibly save further with the Anadi Online Sparen, where your money is at your disposal
  • Or you can withdraw and transfer your savings with an internet banking transfer to your reference account
Do you want to save longer? How can I prolong my Anadi Online Festgeld?

You can comfortably prolong part or all of your Anadi Online Festgeld up to 24 hours before the end of the validity period. You can find the menu option Prolongation under Anadi Online Festgeld in the Menu of your internet banking. Here you can choose the type of prolongation (one-off payment or automatic), the period of time and the amount to be deposited.  In the event of a prolongation, your time deposit will be calculated and the determined amount set by you will be invested. It is important that your Festgeld settlement account has the necessary amount for the investment at its disposal.

Can I cancel my time deposit earlier and during the validity period?

Reimbursements before the end of the validity period are not allowed. However, in the event that Anadi Bank agrees to an early reimbursement, regardless of a partial or a full reimbursement of a EUR amount, will be contractually subject to 0.05% interest per year minus capital gains tax for the period of time held.

What should I pay attention to in regards to the reference account?

The reference account you indicated on your application to open an online account must be cleared for payment transactions and cash flows. This means, it cannot be a savings account and there must not be any blocks or other barriers tied to the account.