Deposits

What types of deposits can be placed with Šiaulių Bankas?

Šiaulių Bankas offers the following list of the deposits for your option:

  • Time deposit
  • Time deposit PLIUS
  • Time deposit with additional interest (during the distribution period)
  • Accumulative deposit for savings
  • Child's deposit.

Are deposits held in the bank insured?

The customer deposits held with Šiaulių Bankas are insured in the state enterprise Deposit and Investment Insurance in accordance with the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania of 20 June 2002, and the law amending, supplementing articles 2, 4, 5, 7, 9, 10, 13, 18, 20, 21, 26 and the Annex and recognition of article 28 as no longer valid (Gazette., 2009, No. 93-3969).

Insurance company: state enterprise Deposit and Investment Insurance.

Insurance object

Deposits of private and corporate customers in euros, US dollars and national currencies of the countries of the European Economic Area (national currencies of the European Union member states, Icelandic crowns (ISK), Norwegian krone (NOK) and Swiss francs (CHF)).

Deposits must be insured in the insurance company by the banks, credit unions, companies and foreign banks or companies having established branches in the Republic of Lithuania in which deposits are held or liabilities to investors are not insured (not compensated) or otherwise not secured under the legislation of the foreign state having jurisdiction over the bank or the company which has founded the branch.

Debt securities issued by the policyholder (certificates of deposit) and liabilities related to its accepted and ordinary bills, mortgage bonds issued under the law on mortgage bonds and mortgage lending, as well as deposits or liabilities of the following entities:

  1. The Bank of Lithuania
  2. Insurance company
  3. Credit institutions
  4. Financial brokerage firms
  5. Insurance companies operating under the law on insurance
  6. Pension funds
  7. Management companies
  8. Companies engaged in leasing (financial leasing)
  9. Collective investment undertakings

are not subject to insurance.

Amount of insurance

The amount of the depositor's money held at the bank, in the Bank's branch under bank deposit and/or bank account contracts and the amount of other money to which the depositor has the claim rights arising from the obligation of the bank to perform transactions with the depositor's money or to provide investment services (including interest calculated).

Insurance benefit limitations

Insurance benefits are not paid:

  1. To depositors whose deposits are recognized, by court judgment, as obtained in an illegitimate manner
  2. To depositors whose deposits are contractually or otherwise (except inheritance) transferred after the date of the insured event
  3. To heads of administration of a bank, a credit union or a company, to members of the supervisory board (council) and management board of branch of a bank, a credit union or a company; to persons having at least 5 per cent of the share capital of the bank or persons with at least 50 per cent of the capital in the companies holding at least 5 per cent of the bank's share capital; to persons conducting an independent audit of a bank, a credit union or a company; to children, adoptees, spouses, registered partners, parents and adoptive parents of the persons specified in this clause
  4. For the deposits held in anonymous and encrypted accounts
  5. For the deposits for which the policyholder has set an interest rate that more than twice exceeds the interest rate set in the same credit institution for adequate deposits.

Depositors, for whom lawfulness of the deposit funds acquisition has been addressed to law enforcement authorities or courts, but a decision has not yet been made, payment of insurance indemnities is suspended until the decision becomes effective.

More information on deposit insurance for depositors can be found on the website of Indėlių ir investicijų draudimas VI.

How to enter into deposit contract?

The deposit contract can be entered into:

  • By coming to the nearest branch of Šiaulių Bankas
  • By logging into SB Linija you can enter into time deposit or time deposit PLIUS contract.

What are the benefits of entering into deposit contract via SB Linija?

Via the SB Linija, you can conveniently and quickly manage your deposit:

  • If you want to place a deposit, you do not need to go to the bank
  • For a time deposit of 1 year or longer, an interest of 0.10 per cent is applied
  • You can control the extension of the deposit contract yourself if the terms of the deposit contract provide such an option
  • You can terminate your deposit contract at any time via the SB Linija if the terms the deposit contract provide such an option.

Is it possible to terminate deposit contracts already concluded with the bank?

In many cases you can. Before termination of the contract, we invite you to familiarize yourself with the terms of termination of deposits specified in your deposit contract.

Important. Individuals may terminate the PLIUS time deposit only under special circumstances upon arrival to any branch of Šiaulių Bankas.

What interest rate is set by automatically extending the deposit?

In the case of extension of the contract, the bank applies the bank-approved interest rates for such type of deposit at the date of the contract renewal.

Is it possible to open up a joint deposit for several people and give them access to this deposit?

At the request of several clients, a joint deposit may be made in Šiaulių Bankas. The deposit in such common account is accessible to all the depositors together or each of them separately, this is foreseen when signing the deposit contract.