Updated on 3 July 2020
Medicinos Bankas was founded in 1992. Medicinos Bankas provides retail and corporate banking products and services to private persons and business customers with the focus micro-, small- and medium-sized companies.
European Merchant UAB is part of Akce Group and was set up to expand the range of services the group offers. Akre Group also controls Ozan Limited an electronic money institution licensed in the UK, currently providing payment and payment-related services. European Merchant UAB intends to focus on providing retail banking products and services, in particular accepting resident deposits, lending to households and businesses, providing payment services.
Germany: This product is offered to German 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 However the money deposited to such account cannot be withdrawn for a specified period of time (term).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 Lithuania: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 6 month to 3 years (36 months). The interest rates are within the range 0.05 - 0.50 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Lithuania.
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 0.10 %.
Country Deposit Rating. Lithuania'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 Lithuania are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. When the interest is paid, this tax is automatically withhold from the time deposit account by the bank.