Solidary Deposit

From 16 April to 16 May you may apply for a particularly beneficial offer and earn additional income by depositing money on Solidary Deposit, the income of which is pegged to the growth of Gross Domestic Product (GDP) of Latvia in 2012.

Solidary Deposit is a term deposit with a maturity period of one year. Income from the deposit depends on the rate of growth GDP of Latvia in the calendar year in which the deposit is made. The Solidarity Deposit gives you an opportunity to receive a guaranteed interest rate of 2% or the raised interest rate of 4% if GDP of Latvia grows by at least 2% in 2012.

Service advantages

Irrespective of the dynamics GDP of Latvia growth, you will receive a steady income from the deposit – guaranteed principal and interest profit at the basic interest rate.

You can earn also an additional profit if GDP of Latvia in 2012 demonstrates a growth of at least 2%.

When choosing complex, structured deposits, depositors profit depends on various foreign stock market indices and their performance, which is often very difficult to understand. With a Solidary Deposit you can earn profit along with the growth of GDP of Latvia: your earnings will depend on a specific, clearly realizable characteristic of Latvias national economy, the dynamics of which you can easily follow during the year in the public space - the media, reports of the Ministry of Economics of Latvia, and information released by the Central Statistical Bureau of Latvia.

Economic experts expect the growth of GDP in 2012 to be from 1.3 to 3%, compared to 2011. These projections are based on the economic recovery trends in Latvia, which began in 2010 and 2011, when after a long break some positive changes in GDP appeared and the volume of export increased significantly.

Solidary deposit service conditions

	Deposit period -12 months
Currency/Amount	Basic interest rate	Raised interest rate
EUR 100-1000000	2%	4%

Opening and servicing of a Solidary Deposit account, as well as opening of a Current account for servicing the Deposit is free of charge.

Private persons may receive a digital code card for work with the Internetbank Trast.Net for free.

If you apply for the deposit online beyond the Banks office hours, the Bank is entitled to execute the deposit on the next working day, keeping the deposit maturity date that you have specified (interest will be calculated for the actual time of deposit).

Your interest profit will be calculated from the next day after the money is credited to your deposit account. Interest will be calculated based on calendar days, assuming that a year has 365 days.

Interest profit will be calculated at your choice on a monthly basis or at maturity of the deposit. Every month you can earn guaranteed profit calculated at the basic interest rate; while the remaining amount in case the raised interest rate is applied you will get at maturity of the deposit.

If you want to withdraw the deposited money earlier and terminate the agreement, you must notify the Bank 30 calendar days in advance. Upon termination of a deposit, the Bank will apply to your deposit the interest rate which is applicable to current account deposits. In such a case, the amount of accrued and calculated interest will be recalculated.

If you terminate the deposit before its maturity and without observing the 30-day notice period, 2% of the deposit principal will be detained, the accrued interest will not be paid, but the previously paid interest will be deducted from the deposit principal.

How to apply for a Solidary Deposit?

If you are a customer of the bank, you only have to fill in Deposit agreement. You can do it easily at the bank or via the systems Trast.Net or Telephone bank (if you have a Code card, which generates your electronic signature).

 

If you are not a customer of the bank, along with Deposit agreement, we will conclude with you Current Account Opening and Servicing Agreement.