Term Deposit

Term deposit is a simple and safe method of saving with fixed interest on the amount. Term deposits are typically accepted in euros (EUR) and US dollars (USD). Other currencies are also accepted by separate agreement.

What we can do for you?

Call us at +371 67 959 599 or contact your manager.
Let us know your needs, together we will find best solution.

More about Term deposits

  • General conditions for deposits in EUR and USD

    General conditions for deposits in EUR and USD

    • Term deposits are accepted in euros (EUR) and US dollars (USD)
    • Minimum Term deposit amount is EUR 1 500 or USD 1 500
    • The Term deposit agreement may be signed for a period from 30 days to 60 months for euro, and for a period from 30 days to 60 months for US dollar
    • Interest on the Term deposit is paid either on a monthly basis or upon maturity
    • For the term of the agreement, the amount in the deposit account is constant
    • Interest on a earlier terminated deposit agreement is not payable. If the interest has already been paid, they are deducted from the deposit amount. In addition, the refinancing costs borned by the bank must be covered, if term deposit exceeds EUR 50,000 or the equivalent amount in another currency.
    • The deposits held in Danske Bank are guaranteed with Guarantee Fund for Depositors and Investors Act of the Kingdom of Denmark

  • Interest rates for EUR and USD

    Interest rates for EUR and USD

    After the expiry of the term

     

    Contract term
    Annual interest, %
    Months
    USD
    EUR
    1
    0,01
    -
    2
    0,05
    -
    3
    0,15
    -
    4
    0,15
    -
    5
    0,20
    -
    6
    0,25
    -
    7
    0,25
    -
    8
    0,25
    -
    9
    0,30
    -
    10
    0,35
    -
    11
    0,40
    -
    12-15
    0,45
    -
    16-19
    0,50
    -
    20-23
    0,55
    -
    24-35
    0,60
    0,01
    36-59
    1,00
    0,10
    60
    1,25
    0,25

     

     

     

    Each month

    Contract term
    Annual interest, %
    Months
    USD
    EUR
    1
    -
    -
    2
    0,00
    -
    3
    0,05
    -
    4
    0,05
    -
    5
    0,10
    -
    6
    0,15
    -
    7
    0,15
    -
    8
    0,15
    -
    9
    0,20
    -
    10
    0,25
    -
    11
    0,30
    -
    12-15
    0,35
    -
    16-19
    0,40
    -
    20-23
    0,45
    -
    24-35
    0,50
    -
    36-59
    0,90
    -
    60
    1,15
    0,15

  • Deposits with agreed interest rate in other currencies

    Deposits with agreed interest rate in other currencies

    Following currencies are accepted:

    •  Danish Krone (DKK)
    • Australia Dollars (AUD)
    • Russia Rubles (RUB)
    • Canada Dollars (CAD)
    • Norway Kroner (NOK)
    • Japan Yen (JPY)
    • New Zealand dollar (NZD)
    • Czech Republic Koruny (CZK)
    • Poland Zlotych (PLN)
    • other


    General conditions for Term deposits in other currencies:

    • Minimum deposit amount – EUR 30 000
    • Minimum deposit period – 1 day, maximum – under separate agreement
    • The interest rate depends on the terms and conditions of the deposit made. You can find out the interest rate by calling us on the number + 371 67 959 599 or contacting your designated manager or by visiting a customer service branch.

System of insurance of deposits and liabilities to investors

  • System of insurance of deposits and liabilities to investors

    All deposits and assets intended for purchasing financial instruments and held at Danske Bank A/S Latvia Branch are subject to compulsory insurance in The Guarantee Fund for Depositors and Investors (Danish Kingdom).

     


  • What is the Guarantee Fund for Depositors and Investors?
    The Guarantee Fund for Depositors and Investors (hereinafter – the fund) means the body established by the act of Parliament of the Kingdom of Denmark. Within certain limits, the fund reimburses losses incurred by clients of Danish banks, mortgage banks or investment companies, where a bank, a mortgage bank or an investment company is subject to compulsorily dissolution. This protection also applies to all clients of Danske Bank A/S Latvia Branch (hereinafter – the bank) (private individuals and legal entities).
  • How much is reimbursed by the fund?
    Funds
    The fund can pay compensation of up to EUR 100,000 for deposits or funds in the client's bank account in any currency.

    Securities
    The fund also compensates the loss incurred by an investor if the investor's securities managed, or administered by the bank, or held in an investor securities account are not returned by the bank. The amount of compensation is EUR 20,000 per investor.
  • How is the compensation calculated?
    Funds
    The amount of loans and other financial obligations to the bank is deducted from the total sum of cash deposits held by the client at the bank and the balance held in his/her bank accounts. The client is paid a positive balance of funds up to EUR 100,000.

    Securities
    Generally, suspension of the bank's payments or compulsorily dissolution has no effect on securities, because even in such cases investors usually recover their securities.
    However, sometimes, securities cannot be returned to the investor. In such cases, the fund reimburses the loss because securities were not recovered in the amount of up to EUR 20,000 per investor less any debts to the bank. However, the compensation cannot exceed the market value of outstanding securities.
  • How can I apply for compensation?
    Not later than five business days after commencement of reconstruction or bankruptcy proceedings, the Guarantee Fund will send you a statement of your total balance together with guidelines on how to proceed (the guidelines will also be available at the fund's website).

    When you have received the statement, your new bank will help you file a claim with the Guarantee Fund. The Guarantee Fund will pay the deposits to your new bank within seven business days.

    You can contact the Guarantee Fund at this address:

    Garantiformuen (Danish Deposit Guarantee Scheme)
    Sankt Annæ Plads 13, 2. tv.
    DK-1250 København K
    Tel. (+45) 33 14 62 45
    E-mail: gii@gii.dk
    Home page: www.gii.dk

    If you have not received the payment within seven business days, we recommend that you contact the Guarantee Fund as you may need to observe a deadline for claiming payment.
  • Additional information about the Danish Deposit Guarantee Scheme
    Garantiformuen (Danish Deposit Guarantee Scheme)
    Sankt Annæ Plads 13, 2. tv.
    DK-1250 København K
    Tel. (+45) 33 14 62 45
    E-mail: gii@gii.dk
    Home page: www.gii.dk

    Danish Act that regulates guaranteeing of deposits and securities

    An English translation of the Danish Act that regulates the guaranteeing of deposits and securities can be found on the website of the Danish Financial Supervisory Authority that can be accessed at www.finanstilsynet.dk or www.dfsa.dk.

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