Switch to mobile version. Top

Term Deposit

Term Deposit

  • A possibility to deposit your free funds conveniently
  • Term deposit for a certain term with a fixed interest rate

Term of the deposit

From 1 month up to 1 year. A shorter term may be chosen for deposits exceeding 35,000 EUR (or equivalent in a different currency).

Automatic extension of deposit term Deposit term can be extended automatically. You can choose to either transfer the accrued interest to your current account prior to extension of the term or add it to your deposit.

Interest rate calculation

Interest rate is fixed for the whole term of deposit. In case of automatic extension of deposit term, rate specified by the bank in the Price list, effective on the date of extension of the term is applied.

Disbursement of deposit and interest

You will receive the amount of deposit and the accrued interest at the end of deposit period.

Minimum amount and currency of deposit

Starting from 100 EUR, 200 USD. We offer deposits in other currencies for amounts starting with equivalent of 35,000 EUR.

Interest rate

For deposits in EUR and USD according to the bank’s Price list.

For deposits exceeding 35,000 EUR and equivalent amounts in other currencies the interest rate is determined individually and depends on the price of funds in the money market. Automatic extension of the term is not available to the deposits with the individual rate.

Find out more about other options for savings:

According to the law "On Personal Income Tax", all private individual income from the capital (including the interest income gained from the term deposit) is taxed. Thus, we wish to explain the process of tax collection.

According to the law “On Personal Income Tax”, the state applies a tax of 10% from the profit interest received from the term deposit. The tax is applied only to the profit received, not to the whole amount of the deposit.

The law states that tax on deposit interest shall be paid on the day when the income is received, respectively at the moment when interest income is disbursed (since 1 January 2010). The responsible body for collecting the tax is the one paying out the income. You may plan making or receipt of your deposit; SEB bank will automatically withhold the tax (will pay it for you) at the moment of disbursement of interest, once per quarter as specified by the Agreement.

Read more about the capital tax

Deposit Guarantee Law of the Republic of Latvia stipulates guaranteed compensation to the amount of the deposit (but not exceeding 100,000 EUR) per depositor, if the deposit is not available. Additional compensation up to 200,000 EUR is possible for the following deposits of the private person within the period of three months from the date when the initial deposit was made:

  1. Income from transactions from the real estate owned by the person and intended for residence;
  2. Social benefits, compensations and deposits intended for other social purposes as determined by the regulatory enactments paid to the person;
  3. Compensation for criminal damage or wrongful conviction of the person according to the procedure stipulated by the regulatory enactments.

If the depositor has several guaranteed deposits, they are added up and considered as one guaranteed deposit.

The guaranteed compensation is paid only to those depositors whose claim has been recognised by the liquidator or administrator. Unavailability of deposit occurs upon judgement of the court regarding insolvency of the credit institution and initiation of bankruptcy proceedings. The guaranteed compensation is not paid for certain statutory customer deposits, such as deposits of financial institutions, persons associated with the credit institution, their relatives, etc.

Basic information about state guaranteed deposit protection
Deposit Guarantee Law

Bank's interest rates per year for storing funds in Term Deposit1

Term - 12 months

Minimum deposit amount 100 EUR, 200 USD

SEB banka offers even higher interest rates for deposits in Internet bank!

  EUR USD
At the Bank's branch In Internet bank At the Bank's branch In Internet bank
Payment of interest at the end of the term 0,00% 0,00% 0,31% 0,41%

Effective as of 18.06.2015 

Services Fees

Funds transfer from Current Account to Deposit Account

In accordance of the General Price list section "Payments"

Commission for premature termination of the Term deposit agreement2

With a 30-day prior written notice to SEB bank 3% of the amount 

 


 

1 Upon both parties' agreement, it is possible to extend deposits for other terms and/or other currencies. The minimum deposit amount and interest rate is set for each transaction separately.

2 The commission is applied when the agreement is terminated before expiry, irrespective of whether the customer wants to receive the deposited funds in cash or as a transfer. If the agreement is terminated before expiry, the customer does not receive the accrued interest.

S|E|B

Uzmanību! Jūsu pārlūkprogramma neatbilst SEB mājas lapas prasībām, lūdzu, atjaunojiet to vai izmantojiet citu ierīci lapas aplūkošanai.

Attention! Your web browser does not correspond to the requirements needed to visit SEB website. Please change web browser or device that you use for browsing the site.

Внимание! Ваш браузер не отвечает требованиям, необходимым для посещения сайта SEB. Просим поменять браузер или устройство, при помощи которого вы производите поиск в браузере.