Šiaulių bankas increases interest for deposits in litas and euros


Since today Šiaulių bankas increases its interest for time deposits, time deposits with variable interest rate and accumulative deposits in litas and euros.

Since now the depositors shall receive 6 per cent for one-year time deposits in litas while 5.5 per cent shall be paid for deposits in euros. Interest for deposits placed in US dollars remains stable and reaches 5.3 per cent for a 12-month time deposit.

Interest paid for almost all types of time deposits in litas increases by 0.3 percentage points while interest for deposits in euros has grown even by 0.5 percentage points. The bank is working flexibly taking into consideration its clients’ needs and, therefore, may offer even more favourable interest for its loyal clientele.

“Šiaulių bankas always offers one of the biggest interest for deposits in the market guaranteeing its clients attractive and stable income. Seeking to make favorable conditions to inhabitants to increase their savings, the bank shall remain to such a policy in future as well”, - said the Chairman of the Board of Šiaulių bankas Algirdas Butkus.

Time deposits with variable interest rate are also growing at Šiaulių bankas. The bank has increased amounts of fixed premiums of these deposits depending on the deposit term. Moreover, each year a new interest rate is set to the time deposits with variable interest rate, which more favourable than one dominating in the market. At the moment the interest for a deposit placed for five-year period reaches 6.5 per cent for the first year of the deposit with the bank.

The interest paid for all types of time deposits may be taken monthly - in accordance with the client’s request submitted to the bank it may be transferred either to a payment card account or to the bank account.
The higher interest at the bank is also applied to those who place their time deposits via the Internet using the bank’s e-banking service system “SB linija”. During the Christmas Deposit Campaign (until January 31st 2008) 0.2 per cent higher annual interest shall be paid for deposits placed via the Internet than it is announced on the bank’s interest table. In this case the depositors will receive 6.2 per cent of annual interest for one-year time deposit.

You may also receive higher time deposit interest by acquiring “Visa Electron” or “Maestro” payment card. In this case by 0.2 per cent higher annual interest in comparison to one, which is valid at that time in the bank, is also paid. The interest paid for the time deposits with payment card may be also taken monthly - it is transferred to a payment card account.

Starting this week Šiaulių bankas changes not only the interest rate but also shortens the shortest deposit maturity period. 10-day maturity period used to be the shortest maturity term for deposits, however, the bank has reduced it even more up to 7 days. Therefore, the clients, having “unemployed” money, may place a deposit for a week and receive the interest very fast. 4 per cent of interest is paid by the bank for a deposit in litas placed for one week.