Šiaulių bankas offers the depositors a non-traditional savings solution with the opportunity to earn more

2017-08-01

Šiaulių bankas again offers a non-traditional saving solution, the fixed term deposit with additional interest linked to the change in the price of gold. This time, deposit holders can earn as much as 9.8 per cent interest for the entire deposit term: from 1.8 per cent fixed interest and even 8 per cent additional interest.

”Šiaulių bankas offers already the third fixed term deposit of such kind with additional interest. The first two distributions showed that customers were interested in non-standard saving methods. The deposit with additional interest has characteristic advantages of fixed term deposits: the clear duration of the deposit, the fixed annual interest paid at the end of the term. It is a safe saving instrument, which is subject to deposit insurance and is also an opportunity to earn additional interest in the case of favorable financial market situation without risking the value of savings,” said Daiva Šorienė, Deputy Head of the Business Development Department of Šiaulių bankas.

Additional interest is associated with the gold price index, expressed in euros. Both stock, bonds and real estate markets have generated quite high returns over the last few years, so people are increasingly cautious about the current potential of these markets, due to the sharp rise in prices and high investor assets in these markets.

”With the uncertainty in the financial market, in order to protect the accumulated assets, market players are beginning to look for alternative investments, one of which is gold. Gold is often referred to as the best protection against depreciation of money (currently, the volume of money in the market is extremely high, inflation expectations are rising) and it can also be the protection if prices on financial markets start to fall. All of these assumptions allow us to expect a positive change in the price of gold,” said Viktorija Juskif-Grigaitė, Director of Savings and Investment Department of Šiaulių bankas.

8 per cent additional interest will be paid to depositors if the value of the gold price index on the date specified in the deposit contract increases by 30 per cent. In the event that the gold price index increases by 10 per cent but no more than 30 per cent (including), depositors will receive 4 per cent of additional interest. Otherwise, depositors will be paid out the total amount of their deposit and fixed interest over the entire deposit period.

Last year, Šiaulių bankas issued two additional interest-bearing deposit emissions. Deposit interest was linked to: shares in oil companies and food raw material price indices. In the deposit market, Šiauliu bankas is in the fourth position among the banks operating in Lithuania.

The campaign is carried out from 01 August 2017 to 11 September 2017. You can take advantage of the campaign conditions from  the customer service points of Šiaulių bankas and via SB Linija.

For more see –„Fixed- term deposit with additional interest” campaign. Telephone for enquiry 1813 (calling from abroad +370 37 301 337).