Šiaulių bankas introduces a Child’s deposit


Šiaulių bankas has met the summer with a new product assigned for children - the bank introduced a Child’s deposit to its clients. Currently, the bank is paying one of the highest interest for this type of deposit

The Child’s deposit is money kept on the bank account opened on the behalf of an under-age child until he/she turns 18. The Child’s deposit may be placed in litas, euros or in US dollars by parents, adoptive parents or foster-parents. The deposit may be supplemented at any time by any amount - this could be done not only by parents, adoptive parents or foster-parents but also any adult who precisely knows the depositor’s name, surname and deposit account number.

The shortest maturity period of the Child’s deposit is one year (i.e. such deposit may no be placed for a person who is older than 17). A one-year time deposit interest plus 0.3 per cent of additional interest is paid for this deposit. The annual interest rate as well as additionally paid interest will be revised annually - each year on June 1st the bank shall establish a new interest rate, which shall exceed the interest rate applied to one-year time deposit at that time.

Introducing a Child’s deposit Šiaulių bankas starts a campaign: transferring funds into the Child’s deposit account from the account with Šiaulių bankas standing orders shall be executed free of charge for a one-year period. It is really convenient, as the bank shall automatically transfer the funds into the Child’s deposit account in periodicity determined by the client. The conditions of the special offer are valid until May 31st 2009.

Save for your children with love!