Savings account |
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Our savings account is a safe, convenient and affordable way to save your money. It is a great way to accumulate funds step by step for such expenses like the purchase of an apartment or a car, payment for children’s education and so on.
Parex banka offers you a savings account designed to help you reach your short- and long-term financial goals. You receive interest, you can easily add to the principal and have comfortable access to your money.
Details
- A current account will be opened simultaneously with your Savings account;
- Parex banka savings accounts are maintained in LVL, USD, EUR, GBP, SEK, EEK, JPY, AUD;
- There is no minimum amount for opening a savings account;
- You can add to your Savings account at any time, in cash or by bank transfer;
- Interest is calculated daily. Once a month (on the day you have chosen or on the last day of the month) the bank transfers the accrued interest to your current account or adds it to the principal for “interest on interest”;
- You may withdraw money from your savings account by notifying Parex banka seven days in advance. The amount indicated in your money withdrawal application will be transferred to your current account without any additional deductions;
- You may also withdraw cash from your savings account without notifying the bank in advance. However, in this case a withdrawal fee will be charged, according to the bank’s tariffs.
How much does it cost?
Opening a savings account — free.
Annual interest rates:
| LVL |
8.0% |
| USD |
4.5% |
| EUR |
5.7% |
| GBP |
5.0% |
| DKK |
5.4% |
| SEK |
5.6% |
| EEK |
6.0% |
| AUD |
6.0% |
| RUR |
5.0% |
Effective from 15.12.2008.
Cash withdrawal with seven day advance notification — free of penalty charges.
Cash withdrawal without prior notification — additional penalty charge of 10% of the amount withdrawn.
If you don’t need instant access to your money, with a term deposit account you can receive a higher interest rates.
To learn more about deposit opportunities, please contact our specialists in Riga or at Parex banka representative offices abroad (please see “Contact us” section for the locations).
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