Maturity savings account

The Maturity savings account is a deposit account for private individuals to save up funds for a child. The account is opened in the child's name, but in relations with the Bank the child until the age of 18 is represented by his/her parents or custodians.

The Maturity savings account is money deposit for a fixed period of time from the child’s birth until him/her turning 18. The amuonts placed in a Maturity savings account may be increased without any limitations and earn interest income. The interest earned is added to the principal on an annual basis.

Access to this Account by any third parties is restricted, with only the account holder being entitled to use the accrued funds upon having reached the age of 18.

Possibilities:

• Save money for the child's future,
• Restrict third persons' access to the funds deposited,
• Enjoy variable interest (higher interest rates compared to the ordinary Savings Account),
• Make deposits in various currencies - LVL, USD or EUR,
• Increase the deposit at any of the Swedbank's branches, by paying in cash or by transfer, or by Standing Order, as well as by using electronic payment system - Internet Bank or Telephone Bank,
• Hold several Coming of Age Savings Accounts simultaneously.

Additional possibilities:

• Upon opening of a Maturity savings account, a Private Account or Salary Account for the custodian may be opened free of charge

To open a Maturity savings account, you have to:

• Sign a Deposit Agreement with the Bank in any branch