In Swedbank, interest rates on time deposits have changed Photo: Shutterstock
Interest rates on time deposits at Swedbank have changed since January 1st. According to head of private banking Tarmo Ulla, increasing the interest rate for shorter periods reflects the current state of the economy and therefore offers customers even better opportunities to grow their money with short periods of savings.
New interest rates:
1 main3 months6 months9 months12 months18 months24 months2.25%4.5%4.2%4.2%4%3.25%3.25%
“With the rise in interest rates, the interest of customers in saving money has also increased significantly. For example, if in 2022 a total of 19,600 term deposits of private customers were signed at Swedbank, in 2023 this was almost 146,000 times. The volume of deposits has also increased by leaps and bounds: if in 2022 private customers deposited a total of 919 million euros, in 2023 a total of almost 3.1 billion euros were deposited in Swedbank in time deposits,” Ulla added.
It is also worth knowing that deposits are nationally guaranteed up to 100,000 euros. In Swedbank you can choose the duration of the term deposit retention period from two days to two years, depending on the currency. The minimum amount for opening a term deposit is 190 euros.
In addition to time deposits, it is possible to collect money and accrue interest with daily flexibility. For example, you can open a Rahakonuja account at Swedbank, which is essentially a modern checking account with no service fees and from which you can withdraw money at any time without delay. At the end of each day you can earn a fixed 2% interest on your fundraising account balance.
There is no minimum amount for fundraising. Depending on your plans and future needs, you can open different deposits with different amounts and terms. If necessary, the term deposit can be terminated before maturity, but in this case the bank does not pay interest for the time deposited. The deposit amount will be credited to your account immediately after stopping the deposit. There are no fines or service fees for canceling a deposit on Swedbank.
On the same topic
2024-01-02 09:05:00
swedbank-is-changing-interest-rates-on-time-deposits