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Special Purpose Savings Account

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The Special Purpose Savings Account is a deposit account for private individuals to accrue money for a special purpose and receive interest on the depsoited amount. The Special Purpose Savings Account is placed for a fixed period - from 3 months to 5 years, where each month the original amount is automatically increased by a fixed amount, making use of a Standing Order.

The interest earned is credited to the customer's Private Account or Salary Account at maturity. The maturity of a Special Purpose Savings Accounts cannot be extended.

Possibilities and advantages:

  • Receive fixed interest (the larger the amount of the deposit and the longer the maturity, the higher is the interest rate applied),
  • Deposit money in various currencies - LVL, USD or EUR,
  • Simultaneously accrue funds for several purposes,
  • Automatically incerase the deposit, using a Standing Order,
  • Receive the accrued principal and interest accrued at maturity.

Additional possibilities:

To open a Special Purpose Savings Account, you have to: