SAFE deposit account – earn up to 20% per annum with LiteFinance

SAFE account benefits

• Deposit account in US dollars
• Floating rate, up to 20%
• Interest rate depends on your trading volume
• Daily interest payments
• No minimum or maximum deposit limits
• Withdrawals at any time

How does a SAFE account work?

• The client tops up their SAFE account in the Client Profile area using a transfer from their trading accounts or any available payment system.
• The client trades every day or copies trades in their trading account with LiteFinance
• The interest rate is subject to the trading volume the client accomplishes in their trading accounts
• The interest on the money held in a SAFE account is calculated and paid every day

How is the floating interest rate calculated?

Deposit interest depends on the client's trading volume accomplished in their trading accounts.

The maximum interest rate is 20%.

Floating Interest Rate (FIR,% per annum) is calculated daily according to the formula:

K is the company's participation factor set at 10.1

L is the number of lots traded and completed in the past 30 days in the client's trading accounts

T is the current deposit in a SAFE account increased by 5%

The client receives interest daily, based on the calculated annual rate. Daily interest is calculated as follows:

Balance – SAFE account minimum balance on the previous day, for which a daily payment is calculated.

How is deposit interest calculated?

To earn higher interest, the client needs to trade actively. The more lots the client trades, the higher their floating interest rate is.

SAFE account service terms

1. SAFE accounts can be provided only to the clients from: Nigeria, Tanzania
2. A SAFE account is a non-trading savings account that yields interest on a deposit.
3. LiteFinance's Client can have only one SAFE account.
4. Only fully verified clients can open a SAFE account in the MetaTrader section of the Client Profile at LiteFinance.
5. SAFE accounts can be opened only in USD
6. SAFE accounts can be topped up using any method available in the Client Profile with LiteFinance or through a transfer from the Client’s trading accounts.

   6.1 The minimum amount the Client can deposit via the payment systems is determined by the payment systems in the Client Profile.

   6.2 The minimum amount the Client can deposit via a transfer from their trading accounts is not limited.

   6.3 LiteFinance pays back the deposit fees of the payment systems used to top up a SAFE account in a separate transaction.

7. The Client can withdraw funds from a SAFE account at any time without limits. All withdrawals must be made through the payment system used to make a deposit, according to our AML policy.

   7.1 The minimum amount the Client can withdraw via the payment systems is determined by the payment systems in the Client Profile.

   7.2 The Client's minimum amount to withdraw via a transfer to their trading accounts is 1 cent.

   7.3 The company does not pay back the payment systems' withdrawal fees when the Client makes a withdrawal.

8. Daily interest is paid on a SAFE account deposit based on an annual floating interest rate.
9. The interest rate is calculated every day at 00:00 (trading server time) and is based on the deposit amount and trading volume that the Client has accomplished in their trading accounts.

   9.1 The following formula is used to calculate the annual floating interest rate (FIR,%):

   FIR% = (K × L) / T, where

   K is the company's participation factor set at 10.1

   L is the number of lots traded and completed in the past 30 days in the client's trading accounts

   T is the current deposit in a SAFE account increased by 5%

   9.2 The maximum floating interest rate cannot exceed 20%. If the FIR calculated exceeds 20%, the maximum rate of 20% will be applied.

   9.3 Interest payments for the previous day (DailySUM) are made at the beginning of every new day according to the formula:

   DailySUM = ((Balance × FIR%)/100) / 360, where

   Balance – SAFE account minimum balance on the previous day, for which a daily payment is calculated.

   9.4 The interest of less than 1 cent will not be paid.

   9.5 LiteFinance has a right to change the FIR% calculation formula or revise the maximum FIR at any time, making a mandatory notification to the Client in the Company news section. Such changes come into force upon publication and apply to the next interest calculation.

10. SAFE accounts (savings accounts with floating interest rates) are provided as an additional service under the loyalty program at LiteFinance's discretion. The company has a right to terminate the service or refuse it to any Client without providing a reason.
11. LiteFinance has a right to deduct the interest paid into a savings account, including with the use of an initial deposit or the money held in the Client's trading accounts, in the following cases:
    • The Client has failed to comply with the SAFE account service terms or the terms of the company's regulatory documents;
    • The Client has used fraudulent schemes to earn interest dishonestly, increase the rate, or bypass the SAFE account service rules.
12. All controversial issues will be solved according to the rules set out on this page and in LiteFinance's regulatory documents. If these rules or LiteFinance's regulatory documents do not cover a controversial issue, the LiteFinance company will make a decision at its sole discretion.
13. Applying for a SAFE account with a floating rate, the Client accepts all the terms of use and the company's regulatory documents and fully assumes the responsibility arising from their failure to comply with these terms.
14. LiteFinance reserves the right to amend the terms of opening and using SAFE accounts (savings accounts with floating interest rates) at any time, making a mandatory notification to the Client in the section Company news. Such amendments come into force upon publication.