Savings Account

With the increasing wealth of our customers, an important component of preserving their earnings is not only high deposit interest rates, but the security of their deposits and the possibility of uninterrupted access at any time.

Baltikums Bank allows you to organise your funds to obtain additional earnings even in the short term, without the need to place them for a specific period of time.

A term less Savings Account opened with Baltikums Bank is intended for wealthy individuals and companies that want their available funds to bring additional income while remaining available for use.

Advantages of the Savings Account:

• Safety of funds – money is kept in the Bank, but remains easy to withdraw if necessary;
• Money always works for your benefit – the Bank accrues interest for the funds on your Savings Account;
• A market-driven interest rate is applied to the funds on the Savings Account;
• You are allowed to replenish the account at any time for any sum;
• You are allowed to withdraw funds without losing any accrued interest by giving 10 or 45 calendar days’ notice;
• The interest may be capitalized;
• Interest is calculated daily and transferred once per month to your Current Account or Savings Account at your discretion;
• Transfer of funds from a Savings Account to a Current Account by giving the Bank prior notice (the term of the notice depends on the type of Savings Sccount) free of charge ;
• A commission fee applies to transfer of funds from a Savings Account without a notice period – you do not lose the interest accrued.

Opening a Savings Account:

• If you have a Current Account with Baltikums Bank, you should completean Application for Opening and Maintenance of a Savings Account and send it to the Bank. The Application for Opening and Maintenance of a Savings Account can be signed either by hand or using the Digipass electronic signature calculator;
• If you are willing to become a customer of our Bank, you should complete:
  • All documents required for opening a Current Account;
  • The Application for Opening and Maintenance of a Savings Account;
  • The entire package of the prepared documents for both the Current Account and the Savings Account should be passed to the Bank.

Terms and conditions of the Savings Account:

• The minimum amount of funds to be placed on the Savings Account:
  • 25 000 LVL;
  • 50 000 EUR;
  • 50 000 USD;
• You are entitled to withdraw funds from the Savings Account fully, partly or down to the minimum amount specified in the Bank’s pricelist.

The Bank offers customers the following options for regular transfers from the Current Account to the Savings Account:

• Regular Non-Cash Money Transfers, a product that ensures automating crediting of the Savings Account from the customer’s Current Account according to preset parameters;
• Automatic Account Balance Maintenance, a product that ensures automatic maintenance of the balance on the Savings Account from the customer’s Current Account according to preset parameters.