Short-term Deposit

You may invest your excess money in a short-term deposit and negotiate on an individual, acceptable interest rate online via the internetbank Trast.Net, matching the rate in a specialized chat.

A Short-term deposit is a deposit placed for a period of 1 day to 1 month with a fixed interest rate and payment of interest profit at maturity of the deposit.

You can open a short-term deposit either by arriving in persona at the Bank and filing in a Term Deposit Agreement or by processing your application in an easy and convenient way - through the remote banking systems: internetbank Trast.Net or Telephone bank (using the Code Crad to produce your electronic signature).

Agreeing on individual interest rate

In order to agree on an individual short-term deposit rate, when filling in the application for acceptance of your deposit, you will need to indicate all the data necessary for execution of the transaction:

account number,

currency and amount (from 1000 LVL or an equivalent of this amount in other currency),

deposit type - „By agreement”,

starting and ending dates (term cannot exceed 1 month),

interest payment frequency (only at maturity),

to confirm your approval of the Term Deposit Agreement, Price list and General Transactions Regulations.

Having provided all the parameters, choose the command “Negotiate” in your order and you will get a reply from a bank representative. You may either negotiate with the dealer or offer your preferable interest rate. To make a deal both parties have to agree on the terms of transaction. After a mutual agreement you have to send a transaction order to the bank and the transaction will be made based on the agreed terms. Negotiating on individual interest rates is available during the business hours of the bank from 9:00 a.m. to 5:00 p.m.

Short –term deposit opening conditions

A Short-term deposit is a deposit for a short but definite term (from 1 day to 1 month) with a fixed interest rate.

If the Clients application for placing a deposit is submitted to the Bank outside regular business hours of the Bank via remote payment means, the Bank has the rignt to deposit Clients funds (provided that they are sufficient in the Clients account) on the next Banking day. The maturity date of the deposit specified by the Client remains unchanged. Interest is calculated for the actual deposit period (as from the actual date of depositing).

	Interest profit is paid to the Customer at maturity.
	In the event the Customer terminates a short-term deposit, the Bank will withhold 2% of the deposit principal and the Customer will not receive accrued interest profit.