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 Nordea 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

Savings account and deposits made to it is covered by the Swedish deposit guarantee scheme in accordance with an assessment made by the Swedish National Debt Office.

Each client (taking into account restrictions mentioned below) is entitled to repayment up to an aggregated amount of 100,000 euro. Payment will be made by the Latvian Deposit Guarantee fund on behalf of the Swedish National Debt Office. The Swedish National Debt Office will disburse payment to the Latvian Deposit Guarantee fund within seven days from the date when the bank was declared bankrupt or the Swedish Financial Supervisory Authority decided that the guarantee should enter into force.

Additional repayment can be claimed under certain circumstances, for example in connection with the sale of private housing, dismissal, insurance compensation in an aggregate total amount of 5 million Swedish Kronor.

The following categories of depositors are not covered by the deposit guarantee: credit institutions, investment firms, insurance undertakings, re-insurance undertakings, mutual benefit or aid societies,  financial institutions according to the Swedish Banking and Financing Business Act (SFS 2004:297), investment funds and alternative investment funds, pension and retirement funds, pension and retirement foundations, and county councils, municipalities and government authorities. Assets of investment funds and pension funds are kept separately from custodian bank’s property, thus they are protected from the possible insolvency of the bank.
Depositor information.

General Terms and Conditions for Savings Deposit Opens new window

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%