Updated on 5 December 2020
Established in 1993, Baltic International Bank is a family owned private bank specializing in private banking and wealth management. Baltic International Bank provides individual, tailor-made services, offering high-quality financial products and investment solutions based on the principles of environmental social governance.
Austria: This product is offered to Austrian residents only. When clicking on the product link you will be redirected to the product page in German.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Latvia: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 6 month to 1 years (12 months). The interest rates are within the range 0.01 - 0.01 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Latvia.
Average Deposit Rates. In March 2020, average annual deposit interest rate in local currency (Euro) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 0.43 %.
Country Deposit Rating. Latvia's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).
Deposit Guarantee. Time deposit accounts made with credit institutions in Latvia are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on time deposit accounts is not taxed in Latvia for both residents and non-residents.