Savings Account

Your finances can work and gain you extra profit, but it is not necessary to “freeze” your money for a definite period. Now you are free to choose – when to multiply and when to use your money.

Savings Account is no-term deposit that gives you the opportunity to take out or add more money at any time.

Advantages of the Savings Account

	Interest accumulated during the deposit period will assure your child’s education will be paid for
	You are not “freezing” your money as with a Term Deposit. Your money is working and if you need it you can take it out with no problems – and you will not lose any interest! It is very convenient if you are not sure about when you will need your money
	You can take your money out at any time by giving the bank one week’s notice. You can withdraw the whole amount at once or leave some money to continue working for you
	You can add to extra money any time you need to

How to open deposit?
Opening an Education deposit account is simple and fast.

	If you are already our Client, all you have to do is fill in a Term Deposit Agreement. You can send us the application through the Internet Banking system Trast.Net or arrange your deal with the help of the Phone Banking (if you are using a Code card for generating your electronic signature on the documents)
	If you are still planning to become our client, we are waiting for you! To make a deposit we will open Current Account and Deposit Account for you. Please, remember to take your ID document with you to verify your identity.

Administrative terms

	Opening an account is free of charge, as is administering these accounts
	You can make a deposit investment in Euros, Dollars or Lats. All other currencies are converted to one of these currencies according to the current bank exchange rate.
	Interest profit will be charged once a month to your Savings account or Current account according to your choice.
	The Bank does not charge any fees for paying out your money from the Current account, provided that the money was transferred from the Savings account.
	Withdrawing of funds from the Savings account has to be ordered 7 calendar days prior to the withdrawal. If you wish to receive your money before the end of a 7 –day notice period, you will pay an early withdrawal fee at a rate of 1% from the sum ordered for withdrawal.
	If a Client submits an Application for withdrawal of funds from the Savings Account to place them on a deposit proposed by the Bank with a maturity of at least one month, prior notice is not necessary and no commission fee is charged. If the Client does not submit a Deposit Application on the same banking day (during working hours) when the Application for withdrawal of funds from the Savings Account is handed in, a fee of 1% of the amount payable will be charged.