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Deposits

Let your money make more money

  • A convenient and safe way of earning money from your spare funds
  • A possibility to choose the most suitable deposit solution
  • Earn up to 3.15% per year on your deposit
  • Find out about long-term investment opportunities here

The calculation is approximate. The exact amount depends on the terms of your Deposit agreement.

Want to learn investing? Start as little as EUR 1.

Learn more

A term deposit is a deposit for a fixed period of time at a fixed interest rate.

  • Minimum amount – 100 EUR
  • Duration – from 1 month to 1 year
  • Interest is paid out, at your option, on a monthly basis or at the end of the deposit period
  • Possibility to choose automatic extension of the agreement The deposit is extended for the same period (e.g. 3 months, 12 months) at the interest rate in force at the time of the extension. You can choose the renewal options – principal amount only (without interest) or principal amount and interest
  • The term deposit can be terminated before the maturity date free of charge, however no interest accrued will be paid out in such an event and any interest paid out earlier will be withheld The interest (including tax withholdings) previously paid out is deducted from the deposit amount before it is paid out. No tax withholdings will be refunded
  • The term deposit can be concluded from the age of 16
  • The term deposit can be set up in EUR, as well as USD, GBP, SEK and NOK
  • No amounts can be added to an existing term deposit
  • Several agreements with different amounts and durations can be concluded
  • The personal income tax on the interest payout is withheld automatically. You won’t need to pay the tax yourself or file any tax returns with the State Revenue Service (except when declaring annual income is required under the Law on Personal Tax)
  • If you enter into the agreement using funds in an investment account, no personal income tax will be withheld from the interest paid out at the time of payout. Tax on income is payable in accordance with the terms of the investment account

documentTerms of Deposit Agreement for Private Persons

documentBackground Information on the Protection of the State-guaranteed Deposits

Annual Interest rates

Service Price, EUR
Receiving
Setting up the contract Easy via Internet Banking Free of charge
Transfer/cash payment into term deposit on its opening date Free of charge
Using
Administration Free of charge Adding funds to the deposit is not possible.
Interest rates and minimum amounts See Interest rates

Interest rate is fixed for the entire deposit period.
Interest accrues on the deposit amount on a daily basis and is transferred to the principal account:
a) upon maturity;
b) on a monthly basis.

If the time period, for which the deposit is placed, differs from the standard durations specified in the price list, then an interest rate for the closest shorter period will be applied.

Closing
Early termination of the agreement Easier via Internet Banking Free of charge If the deposit is closed before maturity, then the depositor will not be paid the interest accrued, plus any interest paid out earlier will be withheld (including any withheld taxes). The withholdings will be made from the deposit amount before payout.
Payout of deposit in cash from current account See Cash transactions in branches For deposit contracts set up before 01.07.2013, cash payout in USD and EUR is free of charge for 1 calendar month after transfer of deposit amount to the customer’s current account.
Maturity
1 month 3 months 6 months 1 year
Contract Currency The minimum amount of deposit Annual rate
EUR 100 2.75% 3.15% 3.15% 3.15%
USD 100 1.50% 1.50% 1.75% 3.00%
GBP 100 0.50% 0.50% 0.90% 1.30%
SEK 1000 0.30% 0.30% 0.60% 1.00%
NOK 1000 0.30% 0.30% 0.60% 1.00%

Effective from 19.09.2024.

A maturity savings account is a deposit opened in the name of a minor (child) which is valid until the child reaches the age of majority.

  • Minimum amount for concluding the agreement – 10 EUR
  • You can add to your savings at any time, and you can also set up a regular payment
  • Interest rate is revised once a year on a date corresponding to the agreement conclusion date
  • Interest on the majority savings account is added to the principal amount of the savings once a year
  • Limited access – early withdrawal of savings is possible only with the permission of the Orphans Court
  • At the end of the period, the savings are transferred to the child's current account specified in the agreement

Conclusion of agreement

  • The majority savings account agreement can be concluded from the moment of the child’s birth to 16 years of age. From the age of 17, a term deposit agreement can be concluded as an alternative
  • The majority savings account agreement can be concluded by the parents or the appointed guardian at any branch of the bank. Documents required:
    - Guardian’s passport
    - Child's birth certificate with record of parents or appointed guardian and passport, if issued (compulsory from age 15)
    - A decision of the Orphans Court on the appointment of a guardian or a court ruling on the confirmation of the adoption, if the guardian has been appointed by a decision of the Orphans Court or the adopter has been confirmed by a court ruling
  • The majority savings account agreement can be set up in EUR, as well as USD, GBP, SEK and NOK

Termination of agreement

To close the majority savings account early, the child's guardian must submit an application to the bank for closure of the account and the decision of the Orphans Court on the termination of the deposit and the withdrawal of the amount. The decision of the Orphans Court must state the guardian entitled to receive the accrued funds.

Taxes

The personal income tax on the interest payout is withheld automatically. You won’t need to pay the tax yourself or file any tax returns with the State Revenue Service (except when declaring annual income is required under the Law on Personal Tax).

documentTerms of Deposit Agreement for Private Persons

documentBackground Information on the Protection of the State-guaranteed Deposits

Annual interest rates

Service Price, EUR
Receiving
Setting up the contract Free of charge
Payment / cash deposit into Majority Savings Account on its opening date Free of charge
Using
Administration Free of charge
Payment into Majority Savings Account See Payments Funds can be added to the Majority Savings Account without restrictions.
Cash deposit into Majority Savings Account See Cash transactions in branches Funds can be added to the Majority Savings Account without restrictions.
Interest rate and minimal amount See Interest rates Interest rate is revised once a year, interest accrues on each day’s Majority Savings Account balance and is added to the savings every year on the date corresponding to the agreement start date.
Closing
Early termination of the agreement Free of charge Early termination of the agreement is subject to prior permission by the orphan's court.
Paying out the deposit in cash See Cash transactions in branches
Contract Currency The minimum amount of deposit Rate
EUR 10 2.50%
USD 10 2.50%
SEK 100 1.00%
NOK 100 1.00%
GBP 10 1.30%

Effective from 15.09.2023.

Saving is the key to your financial sustainability

People with savings are more financially resilient to shocks as unemployment, natural disasters, and unplanned expenses like medical bills or a new rooftop. Being mindful about your consumption may not only reduce your impact on environment but also help you save more.

  1. Set specific saving goals, e.g. safety pillow, vacation, new laptop, etc. This will help monitor progress and assign meaning to saving habits.
  2. Save small amounts routinely to increase your savings. Have at least 3 months of your expenses saved to ensure you can overcome any unexpected challenges.
  3. Save money by choosing products that will last longer. Evaluate the cost per use of each product and choose your purchases wisely.
Saving becomes a habit for many people. Join them and build your financial sustainability. 7 out of 10 Latvians say they recently started saving more on daily basis. Swedbank survey, 2020.

Save instead of wasting

People throw away 20% of food and 43% of clothes they have purchased every year. See how much money you could potentially save if you only consumed as much as you needed.

Monthly spendings

Potential monthly savings

  • 0EUR
  • 0EUR
  • 0EUR

Based on European Environment Agency.

A convenient way of diversifying and sustainably investing spare money, starting from 1 EUR.

Build up savings for your child's future now, so you can have peace of mind and your child – their own capital.

You will automatically top up your savings with a small amount every time you pay by card.

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