Savings Deposit

Savings deposit is a convenient and advantageous type of money saving to generate means for future traveling, studies, home improvements, larger purchases or any other particular goal. It is the best choice if you don't want to take up debt liabilities.

Saving money in the savings deposit is safe and easy. It is a good solution to achieve goals that require more money. Meanwhile, you can access the saved money at any time, if such necessity arises.

Benefits

  • Top up your account at any time with any amount depending on your abilities and preferences.
  • The saved money can be accessed at any time.
  • Withdrawal is free of charge, provided that the bank has been notified 7 days in advance.
  • Savings deposit can be opened also for a child.


To deposit funds on the savings deposit use the following:

  • Transfer via Netbank from your personal account to the savings deposit.
  • Standard payment via Netbank.
  • Deposit cash at any Customer Service Unit.


Top up your savings deposit by setting up a standing order. For example, on the 15th day a month amount of EUR 30 will be automatically transferred from your personal account to the savings deposit.

Standing order allows transfers of particular amount of the personal account balance to the savings deposit. For example, if on the last day of a month the account balance exceeds EUR 50, then the amount, which exceeds the EUR 50, will be automatically transferred to the savings deposit.


Guarantees

Safety of your deposits is guaranteed by the deposit guarantee scheme, which has been established pursuant to the Deposit Guarantee Law. In case of unavailability of deposits at a credit institution or credit union, your deposit in the amount of up to EUR 100,000 shall be compensated by the Deposit Guarantee Fund.


In addition to the maximum guaranteed compensation in the amount of EUR 100,000, a depositor is entitled to the guaranteed compensation in the amount of up to EUR 200,000 in accordance with the types of deposits and provisions specified in Section 4 of the Deposit Guarantee Law.

Depositor information.

General Terms and Conditions for Savings Deposit

Terms about Savings Deposit:
  • To open a savings deposit at Nordea, person must be at least 18 years old.
  • Savings deposit can be opened for a child. The child will have access to the saved funds upon reaching the age of majority.
  • Savings deposit can be opened with the following currency options: EUR and USD.


Open savings account:

To withdraw all or a part of the money saved in the savings deposit or to transfer it to another account the most convenient way is to make a transfer via Netbank, for instance, to the personal account.

To receive the money on your personal account without charge you must specify the payment execution date 7 days after the creation of the payment order. For example, if the payment order is made on 03 August, please specify that the day of execution is 10 August.

To access the funds on the savings deposit without charge you must notify the bank 7 days in advance by:

  • Calling the Contact Centre at +371 67 096 096.
  • Submitting an application at any Nordea Customer Service Unit.

Money withdrawals or transfers from the savings deposit without submission of an application as well as transfers via Netbank with execution date sooner than 7 days from making the payment order are subject to a commission fee according to the pricelist.

The total amount of funds deposited in the savings deposit bears interest, disbursed on the last day of each quarter.
The interest rate depends on the amount of funds located within the savings deposit.

Interest rates (valid from 01.12.2016.)
EUR 0.05%
USD 0.15%