Savings deposit is a time deposit, it allows Client to make additional instalments if he wants to.
To make Savings Deposit, you have to open a bank account in Tallinn Business Bank and conclude Contract for Savings Deposit in the form accepted by the bank.
Minimum investment for the first instalment is 200 EUR or its equivalent in foreign currency fixed by Tallinn Business Bank.
According to the agreement with the bank special, higher than standard, interest rates may be available for deposits over 1 000 000 EEK or its equivalent in foreign currency.
Additional installments within the time of deposit for amount over 7 EUR can be made in cash or by bank transfer. Number of installments is not limited.
Time of deposit varies from 3 months to 2 years ( 24 months )
Interests are calculated daily and on the basis of balance at savings account, starting with the first day of deposit and till the time when deposit expires. For additional installments bank uses annual interest rates stipulated in the Contract for Savings Deposit. Calculation of interests is based on the year of 365 calendar days.
On expiring of time of deposit, sum of deposit will be transferred to bank account of client in Tallinn Business Bank. On Clients request, interests accrued may be transferred into the Clients settlement account each month (only for deposit in EUR )within the whole period the Contract for Savings Deposit is in effect.
The Client can prolong deposit for the same period of time and for interests and terms, which are valid at the moment of prolongation.
The Client shall inform in writing Tallinn Business Bank at least 30 days in advance about cancellation of Contract for Savings Deposit. Interests previously paid out
are withheld on returning the amount of the deposit to the Client.
If deposit was cancelled prior to its term Bank has right not to pay interests accrued for the deposit.
Contract for Savings Deposit may be concluded in all branches of Tallinn Business Bank and in the Internetbank.