A bank investment contract is an official document which is issued by a bank to a corporate investor, either an individual or a large company, which guarantees specific yield on a portfolio over a specific time period. The contract has a maturity of one to 10 years. It is generally regarded to be a comparatively safe form of investment and relies on the creditworthiness of the banks. However, it provides a low rate of return.
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Sample Bank Investment Contract:
This contract is effective as of the 8th September, 2011 and shall last for 5 years, which is the term of the contract, thereby the termination date being 8th September, 2016.
This agreement has been made between the parties with the following details:
Name: Riverview Industries
Address: 3216 Sunny Towers, Ohio
Contact number: 2168374653
Name of bank: People’s Bank of America
Address: 61 Street, 2103, Ohio
Contact number: 2169746273
Investment amount: $100,000
Fixed rate of interest: 10%
Duration: 5 years
The BANK and CLIENT hereby agree to enter into a contract where the BANK guarantees return of the CLIENT’S principal investment amount of $100,000.
In addition to returning the principal amount, the BANK will pay to the CLIENT a fixed rate of interest of 10% on the investment made by the CLIENT over a period of 5 years.
Both parties hereby agree to the terms in this contract, which shall become effective as of the commencement date shown above.
Signature: Jeff Wilke
Designation: Manager, Riverview Industries
Signature: Ronan Ronald
Designation: Manager, People’s Bank of America