Fixed-term deposit with additional interest linked to gold price index

Deposit distribution period: 01 August 2017 - 11 September 2017 (inclusive) 

Main terms and conditions

Deposit type

Fixed-term irrevocable



Deposit maturity

14 September 2020

Minimum deposit amount

1 000 EUR

Deposit currency




Fixed annual interest

0.6 %

Additional interest

For the entire deposit period, depending on additional interest payment conditions: 

from 4 % (from 1.26 %* annual interest) or;

8 % (from 2.52 %* annual interest)

Additional interest payment terms and conditions

4.0 per cent additional interest is payable if the financial asset value of the financial asset at the closing date is 10 per cent but no more than by 30 per cent higher than the financial asset value of that financial asset at the date of initial value determination.

8.0 per cent additional interest is payable if the financial asset value of the financial asset at the closing date is by 30 per cent higher than the financial asset value of that financial asset at the date of initial value determination.

Important!  If the value of the financial asset at the closing date is lower or it has increased by less than 10 per cent, compared with the date of the initial financial asset value determination of the financial asset, the additional interest will not be paid to the Depositor.

Financial asset

Index of gold price in euros: XAUEUR Curncy **

Financial assets initial valuation date 

11 September 2017 stock trading closing price

Financial assets final valuation date

11 September 2020 stock trading closing price

Interest payment method

At deposit maturity (14 September 2020) 

Deposit insurance 

Standard (deposit and fixed interest up to EUR 100 000 are covered by State Company Deposit and Investment Insurance under the conditions provided for in LR law on deposit and liabilities for investor insurance).  More at 

Deposit automatic renewal

Not available

Withdrawal of a part of the deposit


Is available for natural persons (i) in the case of the special circumstances included into the list of special circumstances available at and (ii) after withdrawal of a part of the deposit, the Deposit account shall contain the Minimum deposit amount.

Deposit termination prior to its maturity

Termination is possible only for natural persons  in the case of special circumstances.

 * The exact additional annual interest rate will depend on the date the deposit will be placed.
** The XAUEUR Currency Index is determined using the GOLDLNPM Index converted into EUR currency applying the Reuters (WM) rate.

Why additional interest is linked to Gold Index?

The additional interest of Deposit is tied to the gold price index, expressed in euros. Both stock, bonds and real estate markets have generated quite high returns over the last few years, and 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.

Given the uncertainties of the financial market, in order to protect the accumulated assets, market players begin 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 money volume in the market is extremely high, inflation expectations are rising), and protection is possible if prices on financial markets start falling. All these assumptions make it possible to expect a positive change in the price of gold.

What determines the changes in Gold Price?

The dynamics of the gold market is somewhat more complex than of the most other metals, as its use covers several areas: investment (including bank reserves), jewellery industry and the electronics industry. In terms of investment, the demand for gold is always boosted by insecurity in global financial markets, and inflation and interest rates also play a role. Also, the supply/demand balance is very much affected by the change in the level of gold reserves of central banks: by increasing or decreasing the amount of gold reserves available to the state, it is bought or sold on the market.

The jewellery industry takes on average about half of the demand for gold, and Asia's largest countries, China, India and others, are creating the highest demand for gold in this segment. Therefore, the economic development and livelihoods of these countries are of great importance for the demand for gold.

An important part of gold is also consumed in the electronics industry and in medicine. Like all other industries, the electronics industry is cyclical, so the general economic trend has an impact on the price of gold.

Since 2000, the average annual gold return in euros has reached almost 8 per cent.

Price-up factors Price-down factors
  • Lack of confidence in the stability of the economic and financial system, adjustment in stock markets
  • Growth in living standards in countries with the largest demand for gold (China, India, etc.)
  • Growth of geopolitical instability
  • Development of the electronics industry 
  • Rising inflation
  • Rising interest 
  • Reduction of national gold reserves
  • Growing euro strength.

How to place a fixed-term deposit with additional interest?

Please conclude a deposit agreement during period of distribution of the deposit with additional interest (till 11 Spetember 2017):

Natural persons  can conclude the agreement. While concluding the agreement You have to specify a required deposit amount and to have this amount in Your bank account on the fund reservation day. The agreement shall come into effect on this conclusion day and be effective till the date specified therein.

In case of any queries please submit a request and we will contact You.  Also, You may call by phone 1813 (calling from abroad +370 37 301 337 ).

Please note!

Following the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania deposits with Šiaulių Bankas AB are insured in the state company Deposit and Investment Insurance. See more