You can deposit your spare funds, starting from EUR 100 or 100 currency units in other currency, for a term of 1 week to 5 years with a fixed interest rate. Term deposit allows to keep and at the same time to increase your savings. As a result, you must invest a smaller amount than it would be necessary for the particular goal.
Choose the most appropriate type of the term deposit:
- Term deposit with interest paid on maturity. On maturity the entire invested amount together with the earned interest will be transferred to your personal account.
- Term deposit with periodic interest payment. Interest earned will be transferred to your personal account, for example, once every month, quarter, 6 months or annually.
If you have saved at least EUR 100 on your savings account then it is possible to deposit the saved amount or largest share of it in the term deposit.
If you already have a term deposit you can open new deposits with current interest rates.
- Option to deposit funds in EUR, USD, NOK, SEK, DKK, GBP, PLN and other currencies.
- Opportunity to choose the most appropriate term from 1 week to 5 years.
- Guaranteed fixed yield for any of the offered term deposits.
- Opportunity to spend the earned interest by choosing transfer of the interest to your personal account every month, quarter, 6 months or on maturity.
Term deposit 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.
Provided that the necessary regulatory approvals are obtained and the transfer of the Nordea Bank AB Latvia branch to a credit institution registered in Latvia takes place, deposits will further be protected by the Latvian Deposit Guarantee Scheme. The customer has the right to transfer his/her deposits and interest payments on them to another credit institution designated by the depositor within a period of three months from the date of entry into force of the transfer of the company without additional commission fees.
Nordea Bank AB Latvia Branch will publish detailed information in the media and in Bank's home page about the exact date of the Business transfer of the company as soon as it will be available.
General Terms and Conditions for Time Deposit accounts