Term Deposit Auctions

To participate in a term deposit auction all it takes is being a Banco Best Customer. On the page "Active auctions", at the "Auctions" area, you can find all auctions available at the moment. By selecting one of them you can see the progress of the auction in real time and place your bid. All you have to do is indicate your current account, interest rate and the amount of the deposit you wish. After the conclusion of the auction, a contact will be made communicating acceptance or rejection of bids made.

All bids made in auctions can be seen in "Transaction history/Auctions". All pending bids can be changed or cancelled. As soon as the auction is closed, bids are no longer considered pending and can no longer be modified.

You can place as many bids as you wish, as long as each one is placed at a different rate and that the total of bids will not surpass the maximum amount allowed per Customer. On fixed-rate auctions you can only place one bid, respecting minimum and maximum amounts fixed.

There are two kinds of auctions:

• Standard Auctions:
  All the auctions characteristics are known, bidding is placed by indicating your current account, interest rate and amount.
• Fixed Interest Rate Auctions:
  There is only one possible interest rate (guaranteed rate). You only have to give the bid amount and, if the total amount of the bid is over the total amount of the auction, there will be an allotment to give each participant an amount proportional to the bid.

After the conclusion of the auction, you will receive a comunication with the auction result.

Auction term deposits can be consulted at the same pages of any other term deposit.