New saving options placing a time or accumulative deposit
Starting from 1 December of the current year Šiaulių Bankas has supplemented the rage of the offered deposits with two new types of time and accumulative deposits.
"Deposits, which have already become a common means of saving, allow accumulating funds and receiving a guaranteed stable interest. Even if they do not grow considerably it will still be additional money. In the light of the situation in the market when deposit interest tends to fall we suggest the population to fix the current deposit interest for a longer period of time by placing a time deposit for saving. For those who would like to grow their cash reserve regularly adding even small amounts to a deposit, should take advantage of a accumulative deposit for saving, which could be easily supplemented by means of standing orders", - said Deputy Chief Executive Officer of Šiaulių Bankas, Head of Business Development Division Daiva Kiburienė introducing the new types of deposits.
Maximum maturity for saving in a form of time deposit comprises five years. The longer is deposit maturity the higher interest rate will be applied alongside with a possibility to ensure that deposit interest will not fall despite the changing situation in the market. It is of benefit to clients, as in case of the sudden need for money the deposit agreement is terminated prior to its maturity a portion of accrued interest will still be paid out if a deposit has been with the bank for at least 9 months.
An accumulative deposit allows starting saving from a very small amount as minimal initial contribution is only 5 euros. This deposit can be supplemented on regular basis not limiting an amount of contribution. An important advantage of this deposit is a possibility to supplement a deposit account by means of concluding a standing order agreement. In this case supplementing shall be carried out at no cost. Therefore, putting aside though a small amount in a long run will result in saving a required amount of money.
Providing two new saving options Šiaulių Bankas hopes to assist its clients in achieving their goals and taking care of financial reserve for unexpected situations.
More detailed information on deposits and applicable interest is available on Šiaulių Bankas' site:
- „Time Deposit for Saving“
- „Accumulative Deposit for Saving“
Tel. for enquiry 1813, +370 37 301 337 (when calling from abroad). Also, we invite You to visit any customer service point of Šiaulių Bankas with regard to the matter.